“Jania.”  She’s one of those people in the ERISA world who only needs a first name mentioned and everyone knows who you are talking about. With over 25 years of experience in the retirement plan industry, Jania is a passionate and knowledgeable fiduciary leader dedicated to helping employers with fiduciary governance while also focusing on their employees' financial wellness goals. She has served as a Past President of the National Association of Plan Advisors (NAPA), providing leadership to the Plan Advisory industry to which she has devoted the past few decades.

Jania is also a keynote speaker and writer who enjoys educating and engaging audiences on topics such as fiduciary governance, employee engagement, and behavioral finance. Her mission is to help working Americans feel less stressed and happier.

In this episode, Eric and Jania Stout discuss:

• Developing a cybersecurity policy 
• Strong passwords and two-factor authentication 
• Monitoring cybersecurity practices 
• Educating one’s self on cybersecurity

Key Takeaways:

• Advisors should help plan sponsors develop a cybersecurity policy or process that includes regular review of record keeper cybersecurity practices and benchmarking against industry standards.
• Advisors should work with plan sponsors to ensure participants have set up strong passwords and enabled two-factor authentication to protect their accounts.
• Reviewing record keeper SOC 1 and SOC 2 reports is an important part of monitoring cybersecurity practices.
• Advisors should educate themselves on the DOL's cybersecurity guidance and ensure plan sponsors are aware of and implementing the recommended practices.

“Read what the DOL suggests - understand what the DOL expects of a plan sponsor, because you're their advisor, so you need to know this as well as the plan sponsor, and then educate the plan sponsor, and then quantify the risk.” - Jania Stout

Connect with Jania Stout:

LinkedIn: https://www.linkedin.com/in/401kconsultant/ 

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

LinkedIn: https://www.linkedin.com/in/401kguy/ 

The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change

It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.

The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.