Benefits Notes |

Employee benefits are an important part of every employees' total compensation package. The continuously evolving landscape in the areas of health care reform, retirement plan design, and executive compensation makes it difficult for employee benefits professionals to keep up with relevant developments. The employee benefits attorneys at Stinson Leonard Street provide human resources professionals, plan fiduciaries, actuaries, accountants, and others in the industry with practical and cost-effective assistance as they navigate through the complex laws, regulations and guidance that govern employee benefits plans. This blog highlights key developments in the employee benefits field and items of interest to our clients. Our Bloggers →

Benefits Notes Post

Privacy and Security Issues Affecting Employee Benefit Plans

By Angela Bohmann | March 22, 2012 in Retirement Plans

The Department of Labor recently posted the report of the ERISA Advisory Council on Privacy and Security Issues Affecting Employee Benefit Plans. The report contains some good due diligence questions for plan sponsors to ask their service providers about privacy and security of personal identifiable information (PII), especially for retirement plans. While banks and other financial institutions are bound by certain federal laws to protect PII (e.g., under the Gramm Leach Bliley Act), TPAs not associated with financial institutions may not be subject to comprehensive regulations in this area.

 Plan sponsors looking for general information and some resources on this topic may find the report of interest.