Developing a Records Retention Schedule The Basics & A Case Study Debra Robinson, CRM October 16, 2003
The Basics l Why do organizations need a Retention Schedule? – – – To identify the organizations “Official Policy” for retention and disposal of information assets To achieve economic benefits To achieve legal benefits
The Basics - What l l l A retention schedule states the length of time that records must be retained and is based on the idea that all records have a “life cycle” The Life Cycle is the useful span of time that a records should be retained Remember…the Records Retention Schedule is only one component of an organization’s records management program
Retention Schedule The Development Process l l l Obtain Management Support Assign Primary Responsibility Include Other Participants Conduct a Records Inventory Classify Records to “Records Series”
Retention Schedule The Development Process, cont. l l l Conduct Legal Research Determine the Retention Values Design and Prepare the Retention Schedule Distribute for Review and Approval Publish, Communicate and Implement Take Steps to Ensure Ongoing Success
Management Support l Success is dependent on the amount of support received from the top – – When the initial push comes from the top, this support already exists and can be harnessed to obtain the resources needed When initiated by records management, the benefits may need to be “sold” to those at the top
Assign Responsibility l l l The Records Manager Use of Existing Personnel Consultants
Include Other Participants l Establish a team comprised of representatives from major functions/departments in the organization – l Legal, Internal Auditing, Finance, Tax, Human Resources, Regulatory, etc. Team members should be knowledgeable of the records and their operational needs as used by their function
The Records Inventory l l l Consider a preliminary file purge Survey the organization’s records to obtain a complete and accurate account Survey ALL media types Document the inventory on a form designed specifically to facilitate obtaining and organizing the information needed Interview department contacts
Classify Records to Records Series l Use the Records Inventory to group related records into Records Series or Classification Subjects for evaluation of retention requirements
Legal Research l l l There are over 4, 700 federal statutes and tens of thousands of state statutes Some statues are applicable to businesses or governmental agencies in general Most requirements apply to specific classes of records maintained by certain types of business engaged in providing specific types of products or services
Legal Research – Planning l l Consult with your organization’s legal council to discuss the scope of research required Statutes applicable to most organizations include ones related to: – – – Business Incorporation Labor and employment practices Tax administration
Legal Research – Planning l Other areas of research to consider: – – Products or services performed that may be subject to recordkeeping requirements Geographic locations of business activities What federal, state or other government agencies regulate activities of the organization Litigation history of the organization and related concerns
Legal Research - Issues l The following are the types of results that may be found in the legal research process – – – No recordkeeping requirement is found A requirement is found requiring a specific retention period A requirement is found containing a requirement to “maintain” the record with no specific time period identified
Legal Research - Issues – – – l l A statute of limitation is found A limitation of assessment period is found Case Law Many requirements are vague and difficult to interpret Two or more requirements are found with different retention requirements
Legal Research - Sources l Researching Federal Requirements – – – Laws and regulations are contained in the United States Code, United States Code Annotated or United States Code Service, Lawyer’s Edition Regulations are contained in the Code of Federal Regulations and the Federal Register Office of the Federal Register’s Guide to Retention Requirements
Legal Research - Sources l Federal Requirements On-line – – l http: //www. washlaw. edu/searchlaw. html#Federal%20 Statutes http: //www. gpoaccess. gov/nara/index. html http: //uscode. house. gov/usc. htm http: //cfr. law. cornell. edu/cfr/ Some Suggested Search Terms – – – Records Recordkeeping Limitations of Action Maintain Keep
Legal Research - Sources l Researching California Requirements – – l California Code of Regulations 29 Codes Covering Various Areas Contact State Agencies for Copies of Rules and Regulations
Legal Research - Sources l California Requirements On-line – – – l California Municipal and County Codes and Ordinances – l http: //www. leginfo. ca. gov/ http: //california. lp. findlaw. com http: //www. netlawlibraries. com/ http: //california. lp. findlaw. com/ca 01_codes/municode. html Use the Same Search Terms as for Federal Research
Legal Research - Sources l Other Sources for Retention Requirements: – Legal Requirements for Business Records: The Electronic Edition, Edited by Donald S. Skupsky, JD, CRM; Information Requirements Clearinghouse http: //www. irch. com – Retention 6. 1, Zasio Enterprises http: //www. zasio. com/ – Guide to Professional Resources – ARMA International http: //www. arma. org/bookstore/default. cfm
Legal Research - Documentation Reproduce the Full Text of all legal requirements l Note the applicable statue or regulatory citation(s) for each records series or classification l
Determine the Retention Values l Determine Records Values – – l Operational/Administrative Legal Fiscal/Tax Historical Records Appraisal – – Primary Value Secondary Value
Determine the Retention Values l Cost/Benefit Considerations Note: Don’t assume that because a person has stated that there is a specific requirement for retention that it must be so. Obtain justification. l Make Retention Decisions
Determine the Retention Values Optimum Distribution of Retention Periods RETENTION RANGE Less than 1 year % OF TOTAL RECORDS 2 -5 1 to 3 years 10 -20 4 to 5 years 20 -30 6 to 7 years 20 -30 8 to 10 years 10 -20 11 to 20 years 5 -10 Indefinite 2 -5
Design and Prepare the Retention Schedule l Determine the Retention Schedule Format – – – Description of Record Department Owner Retention Period Active Period (Maintained within the Department) Ø Inactive Storage Ø Total Retention Period Ø – – Media Vital Records Identification
Distribute for Review and Approval l l Final Draft Reviewed and Approved by the Retention Schedule Development Team Reviewed by the Legal Department Route for Approval to Managers and Executives in Key Positions within the Organization Maintain Records of the Approval
Publish, Communicate and Implement l l l Utilize the Organization’s Normal Process for Publishing the Retention Schedule as Would Occur for Other Important Policies Develop a Communication Plan to Ensure that Everyone is Made Aware of their Recordkeeping Responsibilities Plan How it will be Implemented throughout the Organization
Take Steps to Ensure Ongoing Success l l Make Sure the Retention Schedule Is Legally Acceptable by Making Sure it is Adhered to Throughout the Organization Promote Recordkeeping Activities Provide Training to the Organization Develop Procedures
Case Study The 1998 Process Used In GTE (Eight Months of my Life)
Team Established l A Cross-Organizational Project Team was Chosen – – – Legal Regulatory Finance Tax Human Resources – – – GTE Directories GTE Wireless GTE Supply GTE Telops GTE Service Corporation
Team Goals Developed l l Keep it Short and Simple Adhere to Actual Legal and/or Regulatory Requirements Linking Responsibility for Compliance at a High Level in the Organization Policy Development Criteria
Legal Research l 2, 758 Federal and/or State Legal Requirements, Statute of Limitation Periods or Regulatory Requirements were Identified, Documented and Categorized
Legal Research - Example SUBJECT CLASSIFICATION - Check Requisitions, Invoices LEGAL OR REGULATORY CITATION RECORDKEEPING REQUIREMENT US 17 CFR 257. 2 -14(e) US 49 CFR 1220. 6 -C 4(b) AL NARUC 59 f IL 83 ICC 705 53(f) NC NCGS 105 -113 -58 NC NCGS 105 -164. 22 SC SCCA 12 -35 -1250 US 26 CFR 1. 162 -17 US 48 CFR 4. 705 -1(c) VA VRR 300 -01 -2 Maintain 4 Y 4 Y - Accounts Payable Ledgers US 17 CFR 257. 2 -11 - Property Tax US 26 CFR 1. 274 -5 T CA CC 1506 KS KSA 79 -201 -f TX Rule 3. 281 ACTION 6 Y 3 Y 3 Y - Expense Reports STATUTE OF LIMITATION - Donations Settlement Maintain
Skipping a Records Inventory! l l l GTE had 120, 000 Employees Local Phone Service in 28 States Wireless Service in 17 States 8 International Operations 8 Retention Schedules
Comparison of Existing Retention Schedules l l Spreadsheet Developed to Compare 8 Existing Retention Schedules Used by Various Operating Units 1, 814 Record Titles/Subjects Were Compared
Comparison of Existing Retention Schedules - Example SUBJECT CLASSIFICATION Accounts Payable Analysis Batch Log Capital Project Interface Detail Report Construction Bills Direct Deposit Records Distribution Drafts Paid Distribution Summaries Intercarrier Payables Listing Royalty Files Wire Transfer Requests L-901 DIRECT GOVT HR/PAY SVC CORP CT 3 3 3 6 SUPPLY CY 5 TELOPS WIRELESS CY 6 3 3 6 7 CT 3 3 7 3 2 CT 3 CY 3 10 PROPOSED
Retention Periods Recommended l l l Consolidation of Record Subjects Consensus on Utilizing the “ 3 -Year Rule” Identified the Longest Recordkeeping Requirement Considered Risk Taking Team Consensus on Proposals Development of Cross-Reference Listing
Proposed Retention Schedule Routed to SME’s l l Initial Team Recommendations for the Proposed Retention Schedule were Routed to Subject Matter Experts to Obtain Feedback Used to Further Adjust Proposed Retention Periods, Add Classifications, etc.
Distribute for Review and Approval l Task Team Members were Responsible for Disseminating the Proposal to the Proper Individuals within their Organization for Approval Modifications Made and Resubmitted Final Sign-Off was Obtained
Published, Communicated and Implemented l l l Corporate Procedures were Utilized to Publish the New Retention Schedule and Records Management Policy Public Affairs was Charged with Communicating Records Management was Charged with Implementation
Questions?
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