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Records Retention

rainbowrainbow 12 Posts
in Benefits & Leave Vote Up0Vote Down
What is the required lenth of time to keep benefit records? (Insurance enrollments, renewels, options choices)
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  • 2 Comments sorted by Votes Date Added
  • Down_the_MiddleDown_the_Middle 771 Posts
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    I think the answer is three (3) years, but go to [url]www.shrm.org[/url] and click on the "whitepapers" for a pretty good summary of this topic.
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  • Scott RuthScott Ruth 65 Posts
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    Generally, ERISA requires that benefit plan records for a particular year be kept for 6 years from the date the plan's Form 5500 is due for that year. However, if the records are necessary to determine a person's benefits under a plan, such as beneficiary designations or pay records needed to determine pension benefits, they should be kept longer -- I would say 6 years from the 5500 filing date for the year they are last needed or potentially needed.


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