Articles

How You Can Help Secure Retirement Plan Data

Sep 30, 2021

Newport understands how important data security is to your business and ours. October is “Cybersecurity Awareness Month,” a good opportunity to share some of the resources we have available that can help you protect your retirement plan data.

Department of Labor Best Practices

The Department of Labor (DOL) recently outlined cybersecurity best practices for retirement plan recordkeepers and providers. Because of our continued focus on safeguarding data, we are in alignment with these best practices. Find out how Newport meets and exceeds them here, and watch an on-demand replay of our recent webinar on this topic.

Participant Security Profile Audit

For our retirement plan clients, Newport provides a “Participant Security Profile Audit.” It shows which of your plan participants have not completed their online account security profile—an easy but important step in helping to safeguard data. Contact your Newport representative to find out more about this report.

Other Steps You Can Take

Here’s some steps you can take to help protect your retirement plan data:

 
  • Use secure file transfer
  • Encourage participants to regularly log into their account
  • Encourage participants to change their password often
  • Encourage participants to use more complex “pass phrases” instead of pass words
  • Provide Newport with participant email addresses to allow direct communication
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Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services.
Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser and wholly owned subsidiary of Newport Group, Inc.
Securities are offered through Newport Group Securities, Inc., a dually registered investment advisor and broker dealer, member FINRA and affiliate of Newport Group, Inc. Securities in California are offered under the Newport Securities Insurance Services. See BrokerCheck for more information. Other insurance products may be offered by Newport Group, Inc.
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Newport Trust Company, is a New Hampshire state chartered trust company and wholly owned subsidiary of Newport Group, Inc. Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans.