Texas Retirement Plan Uses Third Party Experts to Detect Data Breach
The Employees Retirement System of Texas (ERS) recently fell victim to a cyber attack resulting in a data breach and the exposure of 1.25 million retirement plan records. A flaw in its online portal was…
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60% of Hacked Small to Medium Businesses Fail Within 6 Months
Small and medium businesses often (incorrectly) think they’re too small for cyber attackers to attempt to hack. Only 31% of small businesses take active measures to protect against cyber attacks and breaches. But more than…
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Small Retirement Plans Seeing Increasing Fiduciary Breach Lawsuits
An excessive fee suit against a retirement plan holding $9 million in assets for 114 participants is being seen as the dawning of a new era in retirement plan fiduciary breach lawsuits. The suit, Damberg…
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Plan Fiduciaries Must Make “Prudent” Investments to Avoid Liability
Employee benefit plan fiduciaries have an obligation to make prudent investments to avoid a breach of fiduciary duty. Fiduciaries are personally liable for those damages the imprudent investments caused to plan participants. This is one of the…
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Plan Fiduciaries Must Evaluate Plan Fees
Plan fiduciaries have a lot of obstacles to avoid during plan administration to avoid fiduciary breaches, but the most common breach of fiduciary duty is for a plan that has unreasonable fees and expenses. This…
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Phishing Attacks Trick Your Employees Into Giving Hackers Access
How could there be a danger in clicking a link in an email that appears to be from your coworker down the hall? Clicking that link can provide a hacker access to your company’s system,…
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Many Small Businesses Can’t Afford Data Breaches
Equifax recently came to a settlement agreement regarding its 2017 data breach that affected nearly 150 million Americans. Those who had their personal information exposed in the breach are eligible to file a claim, with…
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Equifax Data Breach Could Cost Company Thousands Per Person
With over 145 million people affected, the 2017 Equifax data breach was one of the largest and most far reaching of all time. Now, with Equifax’s settlement agreement being finalized, those affected by the breach…
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New York to Receive $19 Million in Equifax Data Breach Settlement
New York State officials announced that the State of New York will receive just over $19 million from Equifax’s settlement after its 2017 data breach exposed the data of nearly 150 million people. Nearly 8.5…
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