
By this point, most people in the employee benefits space have heard about the MOVEit and Retirement Clearing House (RCH) cyber incidents, which could directly impact employers’ benefit plans. The MOVEit file transfer application is used by a number of vendors, including those that locate missing plan participants or find information regarding deceased plan participants (e.g., PBI Research Services). RCH is often used by retirement plans to facilitate benefit transfers, including for IRA rollovers. Other plan vendors/subcontractors may also use the MOVEit software application or subcontract with RCH for their plan services. Actual and potential victims have included state and federal government agencies as well as companies across a variety of industries (and their benefit plans) who were using MOVEit or RCH, or who engaged with service providers who used these tools.
Continue Reading Multiple Cyber Incidents Impact Employee Benefit Plans and Participants