401(k) Record-Keepers Take Additional Security Options
Equifax, recently revealed that from May to July 2017, computer hackers lifted the information of about 143 million Americans stored in the company’s database. Data exposed includes names, addresses, birthdays, phone numbers, Social Security numbers, driver’s license numbers, among other information.
Record-keepers already have appropriate measures in place to protect plan assets and they are now offering additional security services that individuals can take to secure 401(k) assets.
For example, Vanguard Group has offered clients additional security services such as establishing voice verification, adding email alerts on all account activity, and restricting access to recognized computers and mobile devices only.
In general, individuals who believe they may have been affected by the Equifax breach should take the following steps:
- Establish an alternate customer identifier if you are currently using your Social Security as the user ID.
- Update security questions and answers.
- Regularly monitor accounts.
- Promptly report any concerns to the record-keeper.
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