Messaging News - June 2008 - (Page 13)

they be kept in “reasonable order and in a safe and accessible place, and in such manner as they may be readily inspected or examined (for example, the recordkeeping system should be capable of indexing, retaining, preserving, retrieving and reproducing the electronic records).” Records necessary to determine benefits to employees must be kept permanently. Welfare and pension records should be kept five years, and supporting documents for ERISA filing should be kept six years. Equal Pay Act of 1963 In addition to having the same compliance as the Fair Labor Standard Act, an employer must preserve for two years records that relate “to the payment of wages, wage rates, job evaluations, job descriptions,” and an assortment of related records. FMLA also requires records be kept pertaining to employee leave taken under the FMLA, as well as any records regarding leave disputes. Federal Acquisition Regulations (FAR) Subpart 4.7 Contractors Records Retention Information, such as books, documents, accounting procedures, and other data, including emails, must be kept for three years after final payment under the contract. Federal Withholding Under the Federal Insurance Contribution Act (FICA), the Federal Unemployment Tax (FUTA) and Federal Income Tax Withholding regulations, records pertaining to federal taxes must be kept for at least four years. This includes identity and wage information. National Labor Relations Act (NLRA) Any collective bargaining agreements, including correspondence with the union, must be kept for seven years from conclusion of contract. Occupational Safety and Health Act (OSHA) Generally, information should be kept for five years after the end of the year in which the information pertains (such as an accident, illness, etc.) Records for serious adverse reactions must be kept up to 30 years. Sarbanes-Oxley Act of 2002 Generally, public companies should save business records, including email and other ESI, for five years, although the Act specifies various retention periods for different types of records. RECORDS RETENTION REqUIREMENTS Fair Labor Standards Act (FLSA) The length of time to save records under the FLSA depends on the type of records. Here’s a general breakdown: • Under the regulations, companies must keep “basic employment and earning records,” as well as wage rate tables and assortment of other related material for two years. The employer must keep payroll records, certificates, agreements, plans and notices for three years. Health Insurance Portability and Accountability Act (HIPAA) of 1996 Employers should retain various records, such policies and procedures, patient privacy data, certificates of coverage and other coverage information, for six years. Records must be kept for two years after a patient’s death. Immigration Reform and Control Act of 1986 (IRCA) Employers should keep for three years after date of hire (or one year after termination) information about employee’s identification and work authorization. Labor-Management Reporting & Disclosure Act of 1959 Records, including back up and supporting documents, required by the Secretary of Labor must be kept for at least five years. SEC Rule 17a-3, a-4 Broker-dealers must retain comprehensive records, including emails, of securities transactions for at least six years. For the first two years they must preserve the documents in a reasonably accessible place. Title VII of the Civil Rights Act of 1964 Any information about race or ethnicity of employees should be kept permanently and separately. Other information relating to personnel decisions, including requests for reasonable accommodation and application forms must be kept for one year. TMP Source: Dell MessageOne • Family Medical Leave Act (FMLA) Generally, records must be kept for three years. This includes basic payroll documents, names of employees, addresses and occupations, hours worked and total compensation, among other related information. Keep in mind the messagingnews.com 13 http://www.messagingnews.com

Table of Contents Feed for the Digital Edition of Messaging News - June 2008

Messaging News - June 2008 Editor’s Note Short Takes Classification & Retention Spam: Bigger, Faster, and More Dangerous Bad Behavior and Today’s Reputation Analysis The Changing Locus of Collaboration Serving Up Managed and Hosted Messaging Solutions “On Message” with Ben Gross SCAP Standard Benefits Both Government and Commercial Space Making the Case Learn More

Messaging News - June 2008

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.