Hi Laurie-

I waited to see if anyone with specific examples of this replied and it
appears there aren't any.

My gut reaction is until there is legislation requiring a longer retention
period, unless your organization sees a benefit to business needs to have
this to defend against claims or other actions, I would continue to follow
the established retention periods.  If during an audit or other action
records are requested that have met their assigned/regulated required
retention, you are not expected to produce them... and if you do, it could
call into question the application of your retention schedule on other records.

As we have discussed here many times, business needs are taken into account
when an organization establishes their retention schedule. That said,
many/most organizations add a notation into the schedule when they elect to
extend a retention period beyond any legal, statutory or regulated
requirements to indicate why they are retaining them longer and how long
they are retaining them.

Sometimes these decisions carry an element of 'risk' with them, in that the
records are discoverable in the event of a legal action because you still
have them, and they would be subject to litigation holds as well.  For that
reason, decisions of this type should involve legal, risk, finance, or other
aspects of the organization to determine if potential benefits outweigh the
costs and risks. 

Larry
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