Retirement plan administration has advanced in recent decades with the rise of the Internet and other digital technologies. However, that has made retirement plans a target for cyber criminals. Armed with stolen personal data, hackers now see trillions of American retirement dollars as a new favorite target. The retirement industry has had to strengthen its defense against cyberattacks and, as a natural extension of this effort, the due diligence practices of plan sponsor fiduciaries have entered the spotlight. The U.S. Department of Labor released new cybersecurity guidance for plan sponsors in April and is already making it a priority topic of audits as DOL underscores the “obligation to ensure proper mitigation of cybersecurity risks.” The DOL guidance includes: Tips for hiring a service provider with sound cybersecurity practices: These tips include asking about the service provider’s security standards, evaluating any historical breaches or litigation and seeking favorable contra...

As we move into summer, many will want to exercise outdoors to stay active and get some fresh air. That’s great news, as experts recommend at least 150 minutes of moderate aerobic activity each week. Working out in hot and humid weather can put extra stress on your body; however, there are simple precautions you can take to protect yourself. Avoid the hottest part of the day. Wear light-colored clothing.  Apply sunscreen.  Stay hydrated with water. Replenish your electrolytes.  Listen to your body. Download the Live Well Work Well June Newsletter for more details on how to safely exercise outside during the summer. As always, talk to your doctor before you start a new exercise regimen. For more information on healthcare and employee benefits changes, contact HANYS Benefit Services by email or by calling (800) 388-1963. This is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2021 Zywave, Inc. All rights reserved