How long should records be retained related to the 401(k) plan?

[austin3515]

How long should records be retained related to the 401(k) Plan?

I'm not asking about the reporting stuff, which I know is 6 years, but the information used to calculate contribuions:

1) Payroll records

2) Employee Election Forms

3) Quarterly valuation reports

4) You get the idea.

Thanks,

[Guest F1fan]

You should review ERISA section 209(a), and corresponding proposed DOL regulation 2530.209-3. The regulation notes that records should be kept “as long as any possibility exists that they might be relevant to a determination of benefit entitlements.” Without specifically commenting on the items you listed, it seems that some records would need to be permanently retained.