New cybersecurity developments and observations, including those relating to U.S. Department of Labor review of cybersecurity issues, warrant prompt consideration by plan fiduciaries, including those plans covered by HIPAA.  The following update includes recommendations to help ERISA retirement and health and welfare plan sponsors and responsible fiduciaries protect benefit plans and participants against cybersecurity risks

The multiemployer pension plan system is facing a funding crisis with over 100 plans projected to become insolvent in the next 10 to 20 years. This rate of plan insolvency was projected to cause the collapse of the Pension Benefit Guaranty Corporation’s (PBGC’s) multiemployer benefit insurance fund. Insolvency of both underfunded multiemployer pension plans and