<The retention requirements placed on information being stored at
the time they were generated or received STAY WITH the information until
they reach that point.  You don't reschedule records during their
lifecycle,
which is why you don't discard past copies of your retention schedule or
the
reference materials used to establish them in the first place until all
impacted records have met their assigned retention!  Sure, you may
establish
new and different periods for new materials, or you may extend or
suspend
destruction due to business needs or legal matters, but you don't
otherwise
change them.>

I have to respectfully disagree with Larry.  His statement is not true.
At least, I've not practiced life cycle (continuum, whatever) management
of records this way for 40 years.  The information takes on a value at a
point in time.  If that value changes due to legal, fiscal, or
administrative needs changes during the existence of the record, the
retention value for that records series may change.  Once the retention
value changes, the new retention is applied to the record series -
including any existing records of that series.  Certainly, if a
retention value is extended, you do not destroy existing records in that
series sooner than the new retention value.  The same is true if the
retention value is shortened.  Even formerly designated "permanent"
records are not kept permanently if the retention value is shortened
unless they have already been accessioned by an archive, where they take
on a new value persona.

Ginny Jones
(Virginia A. Jones, CRM, FAI)
Records Manager
Information Technology Division
Newport News Dept. of Public Utilities
Newport News, VA
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