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Security and cyber-security blog posts
Consolidation is Vital to Reducing 401(k) Cybersecurity Risk
Retirement Clearinghouse EVP & Chief Operating Officer Ricki Ingalls takes to RCH’s Consolidation Corner blog to make the case for 401(k) account consolidation as a means to reduce cybersecurity risks for the 401(k) system. Appealing to common sense, Ingalls notes that “fraud starts small” and that consolidation of small balance 401(k) accounts achieved via auto portability can effectively minimize the cyber “attack surface” these excess accounts represent. Ingalls continues by describing the robust cybersecurity features that have been incorporated into auto portability.
A Happy Ending for Consenting 401(k) Participants
Writing in the Consolidation Corner blog, RCH’s Tom Hawkins examines the “happy endings” possible for 401(k) participants who give their consent for moving their balances forward to their current-employer’s plan. In the piece, Hawkins reveals new data collected from a large plan sponsor who’s implemented auto portability’s key technology components, but requires affirmative consent from participants in order to consolidate their balances. The data shows resounding success in obtaining participant consent, which augurs well for the future of auto portability and for consolidation of larger balances.
Cybersecurity is Augmented by Auto Portability
In his latest column in Consolidation Corner, RCH President & CEO Spencer Williams examines the positive effect that auto portability could have on minimizing the cybersecurity threat to America's retirement system. As Williams observes, the scope and scale of cyber-attacks are escalating, and the retirement system is mobilizing to increase protections. Fortunately, says Williams, the same solution designed to address the industry's proliferation of small, stranded accounts -- auto portability -- can augment cybersecurity efforts through consolidation processes that utilize best security practices, leaving participants and their savings more secure.
Benefits Professionals: Avoid Becoming ‘Collateral Damage’ in a Cyberattack
To readers aware of the ongoing, intense media focus on cyberattacks, it should come as no surprise that multiple studies show that the frequency and sophistication of cyberattacks is increasing, rising dramatically in 2017.
The Crucial Role of the CSIRT
Born out of crisis, the modern Computer Security Incident
Response Team, or CSIRT (pronounced ‘see-sert’) is responsible for coordinating
the response to an organization’s computer security incidents.
‘May Day, May Day’: Locate your plan’s lost & missing participants before it’s too late
Protect yourself by embracing auto portability.
Cybersecurity Meets Retirement Security
Everyone, it seems, is concerned about cybersecurity these days, and with good reason. Each week seems to bring a new round of headlines, making it clear that identity theft and criminal cyber activity have become persistent features of our lives.
Don't forget about your service provider's internal security
With attention-grabbing headlines about major security breaches occurring almost daily, plan sponsors need to be assured that their service providers are on guard 24-7, protecting sensitive information and intellectual property, wherever it may reside.