Cybersecurity for ERISA Plan Sponsors & Fiduciaries: What In-House Counsel Need to Know (On Demand)
Recorded On: 09/14/2023
- Registration Closed
In April 2021, the U.S. Department of Labor issued cybersecurity best practices for benefit plan fiduciaries. Since then, DOL is actively enforcing cybersecurity in its investigations of both retirement plans and health and welfare plans â especially those that have experienced a data breach. The recent MOVEit cyber incident demonstrates that just one vendor's software defect can result in lawsuits and can affect hundreds of plan sponsors, millions of plan participants, and investment funds in the trillion-dollar range. In Walsh v. Alight Solutions, the Seventh Circuit ruled that DOL has authority to issue subpoenas in the course of its cybersecurity investigations. In this session, we will discuss the latest cybersecurity related litigation and focus on practical steps you can take to mitigate the cyber risks posed by your own ecosystem of benefit plan fiduciaries and service providers.
Bill Schiefelbein
Managing Partner
Boutwell Fay
Bill Schiefelbein is the Program Administrator for the Association of Corporate Counsel’s Data Steward Program. The Data Steward Program gives benefit plan sponsors, fiduciaries and third-party service providers a push-button tool for assessing data security, consistent with and exceeding the DOL Cybersecurity Best Practices. Bill received his J.D. from the University of Michigan Law School, and has over 30 years of experience as a Chief Information Officer, COO and consultant in cybersecurity and electronic discovery.
Sherrie Boutwell
Managing Partner
Boutwell Fay
Sherrie Boutwell is Managing Partner of the Boutwell Fay firm, which specializes in employee benefits and ERISA in a federal practice in all 50 states. With an emphasis on retirement and deferred compensation plans, Sherrie advises and counsels a broad range of clients including employers, employees, plan fiduciaries, financial institutions, government agencies and trade associations, on a wide array of employee benefits matters. Sherrie has represented clients before the Internal Revenue Service, the United States Department of Labor, the Pension Benefit Guaranty Corporation, arbitrators from the American Arbitration Association and the United States District Court.
