To add to what Peter mentioned, it also does not account for any
particular organization's needs; geographic location and regulations;
systems; workflow, etc.

Here are the retention policy factors, and those researched and
evaluated retention factors which decide the retention period for any
record series:

Administrative (actual reference value) 
Fiscal (if any; accountancy; internal audit)
Regulatory  (if any; published federal, state, local regulations on
retaining info)
Legal  (if any; general counsel's advice, if any; considerations for
statutes of limitations, legal and regulatory climate; legal oversight)
Historic  (if any; archival information; many industries and government
entities have a typical 1 - 3% of info. is historic in nature)

The retention policy of any information, for any record series, will
(should be) be the LONGEST of the above researched and evaluated
retention factors.

The next time somebody posts to this forum a question asking "how long
do you keep XXX records?"; just forward this note.

Best regards, Steve
Steven D. Whitaker, CRM
Records Systems Manager; City of Reno

>>> [log in to unmask] 10/2/2008 8:24 AM >>>
On Thu, Oct 2, 2008 at 11:01 AM, Jones, Virginia <[log in to unmask]>
wrote:

>   I imagine this is how the "all records must be kept seven
> years" myth was started.
>

which is why I hate seeing the distribution of "recommended records
retention periods" by accountants, storage vendors and attorneys. The
periods cited do not provide a link to where the number came from.

-- 
Peter Kurilecz CRM CA
[log in to unmask] 
Richmond, Va
<snip>

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