Increasingly, employers who provide their employees with a retirement plan are relying on 401(k) and similar defined contribution
plans instead of defined benefit plans. As a result, participants are paying more of the cost of managing their pension plans,
which can take a substantial toll on their retirement savings.
With cybersecurity a top priority in 2017 for the financial services industry, CUNA’s compliance staff explored what credit unions should do in the event of a data breach at the institution or its service provider.