Federal Record Retention Requirements Applicable to Group Benefits

As the year ends, employers should review both federal and state retention guidelines for their employment-related records pertaining to group benefits. Maintaining the confidentiality of employee-related records is of utmost importance. Employee files must be treated with strict confidentiality and stored securely. Access to these records should be limited to individuals with a legitimate need to know or as mandated by law. Preserving the confidentiality of employee-related records aligns closely with decisions regarding the location, method, and duration of record retention.

The chart below outlines federal guidelines for retaining employee files and other employment-related records pertaining to group benefits. Individual states may have additional requirements not covered here, so employers need to examine state employment laws related to recordkeeping and retention. Some of the listed requirements are applicable to a broad range of employers, while others specifically pertain to government contractors and subcontractors. Employers should carefully assess the laws to understand their coverage and corresponding responsibilities.

_{SOURCE: United Benefit Advisors (UBA)}