A retirement services group is trying to help member companies do more to protect 401(k) plans and pension funds against attackers.
The group, the Spark Institute, is joining with the Financial Services Information Sharing and Analysis Center (FS-ISAC) to set up a Retirement Industry Council.
The Spark Institute, which is based in Simsbury, Connecticut, represents the players in the retirement services industry, including insurers, mutual fund companies, banks, retirement plan administrators, trade clearing firms and benefits consultants. It already has a 37-member Data Security Oversight Board.
FS-ISAC, which is based in Reston, Virginia, serves about 7,000 companies in the financial services sector, including many banks and credit unions.
About 300 FS-ISAC 300 members belong to the FS-ISAC Securities Industry Risk Group, or SIRG.