| Topic: | Plan Administration |
| Subtopic: | Records Retention Policy |
| Date: | 6/6/2011 |
| Status: | Active |
Ensure the reasonable and good faith retention of all records created by or under the control of the Fund, whether paper or electronic, that are necessary or advisable to retain for:
- business operations,
- historical value,
- accounting, audit, tax and financial purposes,
- compliance with applicable law,
- possible future use in litigation involving the audit or other matter.
Other records, which are not necessary to retain for these reasons, shall be destroyed in accordance with the guidelines set forth in this policy. All other information that is not a record should be discarded after it has fulfilled its purpose to avoid the unnecessary expense and effort that would be required to preserve it.
A legal hold shall be issued when it becomes necessary to preserve a record or other information otherwise scheduled for ordinary and appropriate destruction in accordance with this policy.
Electronic records must be managed following the same precepts and conditions as hard copy (paper) records at IMRF.
The IMRF Records Retention Plan, may be found on IMRF’s Intranet under Office Services.