Document jVNGXp3pqmMebx9zVV4421e9

S:T*N Date: To: Copy: From: Subject November 7, 1984 Howard Thom . ICD/Milwaukee Katherine M. Wall Records Retention Interr .1 Correspondence Enclosed please find a copy of the records retention policy which I believe will respond to the questions you have raised. 4/Mo KMW: ltaf Enclosure 6627E 'irm E30-23 lBe 12 831 SC-EEI-1440 RECORDS RETENTION-SPECIAL AND COMMON CATEGORIES GENERAL CORRESPONDENCE The length of time during which general correspondence,-including internal memoranda, notes to file, etc., must be retained depends on the subject matter, purpose, and use of the material. The Record Categories listed below should be reviewed for the length of time these records should be retained. RECORO CATEGORY Records not requiring reference or follow-up Records that require future action Chronological Files EXAMPLES Inter-departmental notices and/or memoranda such as vacation replacements, holiday staffing and informational copies where the "office of record" copy is on file elsewhere. Form letters or memoranda ex pressing appreciation, con gratulations, regrets, etc. Appointment books, steno note books, telephone and other message slips. Reminder notices or correspon dence which completes a trans action and there will be no future reference. Short term items 30 days to 6 months. Correspondence of limited value, if destroyed would not cause an inconvenience. Intermediate term correspondence to which internal reference or follow-up might be required, but decreases in value after a definite period. EXAMPLE: Reference check, credit inquiry, etc. Correspondence filed by date. RETENTION PERIOD Retain no longer that 1 year. Retain no longer than 1 year. Retain no longer than 1 year. Retain no longer than 6 months. Retain only as long as needed, but ' not longer than 6 months. Retain no longer than 2 years. ' Retain for the current year plus previous year. REu,<DS RETENTION-SPECIAL AND COMMON CATEGORIES RECORDS COMMON TO HOST DEPARTMENTS The following are records found in many departments. These copies should not be retained for a long period, since the Office of Record copy is available. Where there is no Office of Record, the retention period is only a guideline, as the importance of these records may vary among departments. RECORD CATEGORY OFFICE OF RECORD Annual Reports - Eaton Corp. Secy. Annual Reports - other companies None Articles & Press Clippings (outside) None Annual shareholder meetings, source books, other matters . Corp. Secy. Associations, societies, clubs (committee participation, ' newsletters, etc.) None Automobile & Aircraft (company) Transportation Budget records, capital & repair, selling & expense (all progress reports, capital appropriations, etc.) Accounting Chronological Files None Competitive files (copies of annual reports, clippings, reports and surveys, D&B reports None Consultants, vendors and other service firms (brochures, catalogs, operational correspondence as a client) None MAXIMUM RETENTION PERIOD 1 Yr. 1 Yr. 3 Yrs. 1 Yr. 3 Yrs. 1 Yr. 3 Yrs. 1 Yr. 3 Yrs. 3 Yrs. RECOr ` RETENT ION-SPECIAL ANU CUfOTJM itwmca .CORDS COMMON TO MOST DEPARTMENTS RECORD CATEGORY OFFICE OF RECORD Employee records (job applications, resumes, employee benefits, payroll savings plan, stock options, profit sharing, insurance, education, relocation Human Resources/ Insurance Expense Records/Reports Accounting Financial Information (financial statements, operating reports, etc.) Accounting Management Reports (monthly performance review, * cost records, etc.) Accounting Meetings & Conferences (management meetings: staff, professional, technical, others) None Office Administration Files (supply requisitions, telephone requests, mail receipts) None Press Releases, Management Bulletins Communications Speeches - Senior Management - Other Communications All Oepts. Vacation Records Accounting .Vouchers & Bills (office copies) Accounting MAXIMUM RETENTION PERIOD 1 Yr. 1 Yr. 1 Yr. 1 Yr. 3 Yrs. 1 Yr. 1 Yr. 2 Yrs. maximum 2 Yrs. maximum 1 Yr. 1 Yr. RECORDS RETENTION-SPECIAL AND COMMON CATEGORIES CORRESPONDENCE WHICH RELATES TO OTHER RECORDS Correspondence relating to or that becomes a part of another record, assumes the same retention period as the record to which it helps modify or adds further interpretation. RECORD CATEGORY EXAMPLES RETENTION PERIOD Correspondence which modifies, adds to or interprets another record Correspondence which discusses, defines, amends or supplements a legal instrument such as agreements, contracts, leases. Retain for same time period as prin cipal record. Correspondence relating to such Retain for same items as patents, orders, permits, time period as bills of lading, etc. principal record. Correspondence relating to negotiations with distributors and customers such as price variations, terminations, etc. Retain for same time period as. principal record. Correspondence relating to drawings, surveys, appraisals, etc., of plant or equipment. Retain for same time period as principal , record. Correspondence relating to . Company Policy in verifying Corporate position or enforcing Corporate rights. Retain for period of Policy. Correspondence relating to policy concerning affirmative action, anti-trust compliance, employee safety and environmental protection. Retain for 5 years after Policy is superseded or cancelled. RECORDS RETENTION - SPECIAL AND COMMON CATEGORIES MISCELLANEOUS REPORTS Miscellaneous Reports include analyses, surveys, studies and similar records. These reports vary widely depending upon the kind and subject content; therefore, only general guidelines can be provided for these records. Record Category Examples Retention Period Claims, Investigations, Litigation Reports relating to action by or against the company. Retain for 5 years after settlement Compliance to Governmental Regulations , Consent Decrees and Legal Compliance Certifications. Retain for legally required period Reports Requiring Reference of Follow-Up Reports which update prior information and only current information is required. Retain current copy only . Reports Not Requiring Future Action Performance Analysis and other internal departmental reports for information that is of timely value. Dispose of after 6 months