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Panel Proposals

Ongoing ESOP Operations

What Every ESOP Sponsor, Fiduciary, and Service Provider Needs to Know and Do About Cybersecurity

Tuesday, April 15, 2025
9:00 AM – 10:00 AM MST
Location: 254
CE: 1
CE Type: CLE, CPE, SHRM
Education Level: Intermediate
What do sponsors, fiduciaries, and service providers of employee benefit plans including ESOPs need to know about cybersecurity, and what should they be doing to address cybersecurity? We do not have any ERISA cybersecurity regulations to follow, but the U.S. Department of Labor Employee Benefits Security Administration (EBSA) has placed subregulatory cybersecurity guidance for benefit plans (including ESOPs) on its website, and it is conducting cybersecurity investigations of plans. In this session, we will discuss what the guidance provides; what we are seeing in EBSA investigations, and what plan sponsors, plan fiduciaries, and plan service providers should be doing to address cybersecurity. We will also discuss some of what one ESOP service provider, Blue Ridge, is doing to help its clients address cybersecurity concerns. br>NCEO Newsletter Article: Protecting Your Company from Cyber Threats
NCEO ResourceThe Download

Learning Objectives:

  1. Upon completion, participants will understand cybersecurity risk to employee benefit plans, including ESOPs, and limited guidance available to date regarding protecting against cybersecurity risk.
  2. Upon completion, participants will know what U.S. Department of Labor Employee Benefits Security Administration (EBSA) investigators will be looking for from plan sponsors, plan fiduciaries, and plan service providers in investigations.
  3. Upon completion, participant will have the start of an action plan for developing cybersecurity best practices, to take back and implement.