Pension board approves cybersecurity reviews for three Edgewater plans after price talks

The City of Edgewater General Employees Pension Board voted to approve a cybersecurity assessment program for the city’s three pension plans, accepting a vendor price of $7,000 per plan after negotiations.

A FoxPoint representative explained the program as an online vendor assessment reviewed by cybersecurity experts who issue a green/yellow/red score and an executive summary tied to Department of Labor cybersecurity guidance. "Green... means it's acceptable," the presenter said, describing how FoxPoint flags remediation items for trustees and consults with vendors on fixes.

Trustees pressed for cost clarity because police and fire plans had already completed assessments. One trustee pointed to existing city spending, noting that earlier approvals represented roughly $20,000 in city funds and that adding the general-plan review would increase the city’s total expenditure on the effort. After follow-up with the vendor and Foster & Foster staff, a trustee made a motion to accept the updated $7,000 price and the board approved it by voice vote.

The board also agreed to have the vendor present detailed results to trustees, and to use retained counsel to draft any follow-up letters or compliance requests that any vendor’s assessment requires. The motion was recorded as approved by voice; trustees directed staff to finalize contracts and schedule vendor presentations.