ERISA Cybersecurity Compliance: SEC Proposed Rule May Provide Metrics for Evaluating Certain SEC-Regulated Plan Service Providers

In 2021, the US Department of Labor issued cybersecurity guidance that sets out its views on what processes fiduciaries of benefit plans regulated by the Employee Retirement Income Security Act of 1974, as amended (ERISA) should follow to protect plan assets and information from cybersecurity risks.