Donna,
Hope this helps. This is how I defined this in a recent situation.
The retention period is the number of years a record must be kept before its final disposition. Unless circumvented by a legal hold, the retention period begins with the triggering event. The retention triggering event is a marked event such as termination of employment, the end of a fiscal year, matter closure, etc.. The Records Retention Schedule indicates the triggering event for each record type.
Calculating Retention Disposition Eligibility for Administrative Records
Add the retention period to the triggering event (TE) plus one day.
Example 1: TE = Termination of Employment, with a 15 year retention
Termination of Employment = July 28, 1995 + 15 + 1 day
July 29, 2010, the date the record is retention disposition eligible.
Example2: TE = Fiscal Year, with a 10 year retention
Fiscal Year = 2002/2003 + 10 + 1
January 1, 2014, the date the record is retention disposition eligible.
In summary, the triggering event sets the beginning of the retention period. The end of the retention period is when the record is disposition eligible (destruction/permanent retention, return to a client, etc.).
Food for thought:
Think about trying to find a book without a title. Finding an email is faster when you use good subject lines.
Barbara Embick, CRM | Nelson Mullins Riley & Scarborough LLP |
1320 Main St. Columbia, SC 29201 [log in to unmask]
(p) 803.255.9749| (f) 803-255-9052
-----Original Message-----
From: Records Management Program [mailto:[log in to unmask]] On Behalf Of Donna Malzone
Sent: Wednesday, August 25, 2010 9:09 AM
To: [log in to unmask]
Subject: [RM] Records Retention Schedule and the term ACT+
Hi Everyone,
Our department records coordinators would like me to be able to simplify
the term ACT+, which are those records that need to be retain an
additional period of time once the "Active Event" has expired or the
Start Point for the retention begins. The terms that are being
considered are Trigger or Disposition.
I am struggling to articulate this into simplified terms.
Any insight would be extremely helpful.
Thank you,
Donna Malzone
Donna M. Malzone l Records Manager
ProMutual Group
101 Arch Street
Boston, MA 02110
work: 617 428-9821
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