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Can We Destroy the Paper Records for Our ERISA Plans and Retain Our Records in Electronic Form?
Thomson Reuters / EBIA
Oct. 29, 2020 "While requirements vary somewhat from agency to agency and some special rules may apply, those imposed by the DOL for the use of electronic recordkeeping [include]: ... [1] The electronic records must be maintained in reasonable order in a safe and accessible place, and in a manner in which they can be easily inspected, examined, and reproduced.... [2] The electronic recordkeeping system must have reasonable controls to ensure the confidentiality, integrity, accuracy, authenticity, and reliability of the electronic records, and adequate records of the management practices for the electronic system must be established and implemented." |
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