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A former podcast from Lockton’s ERISA Compliance Consulting team 

You’ve reached the home of ERISA is a Friend of Mine, an informal and informational podcast series that Lockton’s ERISA Compliance Consulting team produced from 2019 to 2022. Scroll down to view and listen to any of the podcast episodes. NOTE: These podcasts have not been updated since their publication dates.

For the latest information and content on ERISA and other employee benefits issues, click below to visit Lockton’s Compliance Consulting webpage, and to learn more about our services and Lockton People Solutions.


Nov 1, 2021

One of the most vexing aspects of benefit plan sponsorship and administration is hanging on to old records like enrollment forms, claim denials, plan documents, SPDs, ACA filings, etc. So when it comes to record retention, how long is long enough?

Ed and Scott welcome to the show their colleague, attorney Suzanne Bach, formerly of the Labor Department’s national office, to explain the rules, and best practices, around plan-related document retention. Join them as they explain:

  • Why the answer to “What if I can’t find it?” in response to federal enforcement agents’ request for plan records is going to be “You lose.”
  • How does the record retention period differ depending on the law requiring the document and depending on how the request is couched?
  • Why isn’t “quadruplely” a word? Or is it? (It is in Ed’s world!)
  • Why does a clear record retention policy actually help – not handcuff – plan sponsors?

As a companion piece to this episode, check out the nifty record retention grid prepared by the show’s guest, Suzanne Bach, J.D.