When evaluating their defined contribution plans, plan sponsors understandably look at standard benchmarks such as rate of participation, average deferral percentage, and average account balance. However, given the highly mobile nature of today’s American workforce, sponsors should also consider tracking the average percentage of retirement savings that participants retain during their job tenure, and when they leave to join another employer.
Consolidation Corner Blog
Consolidation Corner is the Retirement Clearinghouse (RCH) blog, and features the latest articles and bylines from our executives, addressing important retirement savings portability topics.
All companies that manage personal consumer data, regardless of where they are based or what industry they are part of, are right to be concerned about cybersecurity. The scope and scale of cyberattacks continue to increase around the world, as last year’s breach compromising 50 million Facebook users demonstrated.
To readers aware of the ongoing, intense media focus on cyberattacks, it should come as no surprise that multiple studies show that the frequency and sophistication of cyberattacks is increasing, rising dramatically in 2017.
Born out of crisis, the modern Computer Security Incident Response Team, or CSIRT (pronounced ‘see-sert’) is responsible for coordinating the response to an organization’s computer security incidents.
With cybersecurity threats everywhere, CSIRTs play an indispensable role in the retirement industry, and in the future, should become a vital component for facilitating industry-wide collaboration in the face of cyberattacks
Everyone, it seems, is concerned about cybersecurity these days, and with good reason. Each week seems to bring a new round of headlines, making it clear that identity theft and criminal cyber activity have become persistent features of our lives.
The victims of cyber-crime can be wide-ranging, including governments, industry sectors, corporations of all sizes and individuals. The sources of cyber threats are equally diverse, originating from rogue nation-states, crime cartels, “lone wolf” hackers and even disgruntled employees.
With attention-grabbing headlines about major security breaches occurring almost daily, plan sponsors need to be assured that their service providers are on guard 24-7, protecting sensitive information and intellectual property, wherever it may reside.