As we approach the 4th quarter many companies will start to make room for yet another year’s worth of documents and records related to their workforce. Federal laws, such as the Federal Insurance Contributions Act (FICA), the Fair Labor Standards Act (FLSA) and the Equal Pay Act (EPA), impose recordkeeping requirements for which employers must comply.
The following table has been designed as a quick reference for employers, summarizing numerous recordkeeping and retention requirements, indicating the longest retention period established by federal law.
State law requirements are not addressed in this table. To determine the time period for which records should be retained, it is important to reference applicable state laws in addition to federal laws. State laws may include recordkeeping requirements that operate in addition to or in conjunction with federal requirements.
Joanna Morrow is an employer consultant and advocate who has worked in the employee benefits industry for over two decades. She works diligently to help employers overcome obstacles in their business by sharing her expertise in Human Resources, Benefits & Compensation, Process Mapping, Risk Management and ERISA/DOL/IRS compliance. She is a licensed life and health insurance professional in the State of Arizona and is an active member of the National Association of Health Underwriters (NAHU). Joanna is a senior partner at Arizona Benefit Consultants in Phoenix.