Records Retention Policy
PURPOSE
The purpose of this policy is to establish efficient records management procedures pursuant
to Government Code Section 31537.
APPLICATION
The retention rules set out in Sections III and IV below apply to “records” created or received
by the SCERS Board and/or staff. Whether a document constitutes a “record” is addressed
in Section II below.
If an item is not a “record” as defined below, the Board and/or staff may retain or dispose of
the non-record at his or her discretion, in accordance with the document’s relevance and
usefulness to business needs.
On occasion, the Chief Executive Officer or General Counsel may issue a Litigation Hold
Notice. A Litigation Hold Notice requests that the Board and/or staff identify and preserve
certain documents (both electronic and physical) for litigation purposes. Such a Litigation
Hold Notice supersedes the retention schedules set out in this policy.
POLICY
I. Whether a Document Is a Record
Whether a document constitutes a “record” is not susceptible to a single definitive and objective formula. Unavoidably, the determination calls for some personal judgment and sensitivity to circumstances and the important issues of the day. In determining whether a document is a record, the following considerations apply:
- Physical Form: A record is not limited to any particular physical form. A record can be, among other things, a paper document, an electronic file, audio recordings on CD’s and cassette tapes, video recordings on VHS tapes and DVD’s, microfiche, meeting minutes, social media, databases, maps, and photographs.
- Public Business: A record pertains to the conduct of the public’s business and was prepared, owned, used, or received by SCERS during the course of business. Purely personal papers or correspondence that pertain to an individual’s private affairs are generally not records.
- Enduring Value: Records are documents that have some enduring legal, fiscal, administrative, or historical value. Thus, documents embodying Board decisions, SCERS policies, and other aspects of SCERS governance are generally records. Similarly, documents embodying SCERS’ participation in legal, financial, and investment transactions are generally records. On the other hand, documents that constitute only informal or transitory communications are generally not records.
- Claims/Waivers of Rights: Relatedly, documents containing significant concessions, admissions, or waivers of rights by members, nonmember spouses/beneficiaries, vendors, service providers, and other counterparties have ongoing legal value and should be considered records. Similarly, documents by which such persons create, claim, or assert rights also have ongoing legal value and should be considered records.
- Formality and Finality: Records tend to be the final and official version of documents. Thus, working papers, rough drafts, informal notes and calculations, and other materials created for personal reference or convenience are generally not records.
All of the documents identified in Appendix A are examples of records.
II. Records Created or Received in Physical Form Only
Historically, much of SCERS’ records existed only in physical, “hard” form (e.g. paper documents and files, microfiche, video cassette tapes, etc.) Physical records should be digitized (i.e., converted into an electronic file) and then retained or purged in accordance with the schedule set out in Appendix A.
Where Appendix A directs that physical records be retained, and multiple physical specimens of the same document exist (e.g., multiple copies of the same member handbook), only one physical specimen needs to be retained.
There is no need to scan physical records if a digital counterpart already exists. For example, investment consultant reports are usually provided to SCERS in both physical and electronic form. In that instance, there is no need to scan the physical version.
If a physical document constitutes a record, but that record is not specifically addressed in Appendix A, such record should be scanned, and the electronic image file maintained permanently. The Chief Executive Officer or General Counsel should then be consulted about the disposition of physical document.
III. Records Created or Received in Electronic Form Only
As SCERS moves towards a paperless regime, many of the records it creates and/or receives – including records identified in Appendix A — will exist in electronic form only. Such electronic records should be retained permanently and stored in an organized and accessible manner.
IV. Delegation of Authority
The Board hereby delegates authority to the Chief Executive Officer to modify any retention periods set out in Appendix A to the extent consistent with law. However, the Chief Executive Officer shall report any modifications to the Board at the Board meeting following such decision to modify.
RESPONSIBILITIES
Executive Owner: General Counsel
POLICY HISTORY
| Date | Description |
| 08-16-2023 | Board approved amended policy |
| 11-20-2019 | Board adopted policy, superseding and rescinding SCERS Policy No. 006 (Board Meetings Audio Recordings Policy) |
APPENDIX A
| Document | Retention | Citation (if any) |
| Governance Records | ||
| Board meeting agendas, minutes, orders, and resolutions | Scan and retain resultant electronic files permanently; retain physical records permanently after scanning | |
| Audio and video recordings of Board meetings | Digitize recordings and retain resultant electronic files permanently; purge cassette tapes, VHS tapes, CD’s, DVD’s, etc. | |
| Bylaws and regulations (former and current) | Scan and retain resultant electronic files permanently; retain physical records permanently after scanning | |
| Board-approved policies (former and current) | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| Accounting / Vendor Records | ||
| Auditor report | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| Actuarial report | Scan and retain resultant electronic files permanently; retain physical records permanently after scanning | |
| Comprehensive annual financial reports | Scan and retain resultant electronic files permanently; retain physical records permanently after scanning | |
| Accounting entries | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| Transaction code documents | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| Warrants, vouchers, claims, checks, deposit orders, deposit receipts | Scan and retain resultant electronic files permanently; retain physical records for five years after scanning | Gov. Code §§ 26907, 26907.2 |
| Contracts | Scan and retain resultant electronic files permanently; retain physical records until four years after termination of contract | Code Civ. Proc. § 337 |
| Contract deliverables, reports, or similar records demonstrating performance | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| Purchasing records, purchase requisitions | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| RFP and RFP-related documents (other than those pertaining to the awarded vendor) | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| Annual budget | Scan and retain resultant electronic files permanently; retain physical records permanently after scanning | |
| Budget records | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| Employee Records | ||
| Interview materials (resumes, notes, other materials generated in connection with a candidate interview) |
Do not scan; purge physical records three years after interview | Gov. Code § 12960 (statute of limitations) |
| Written performance evaluations, reprimands re: non-exempt employees | Scan and provide electronic files to County Department of Personnel Services; purge physical records after scanning | |
| Member Records | ||
| Active / retired / deferred / terminated member files | Scan and retain resultant electronic files permanently; purge physical records after scanning except as indicted below | |
| Disability retirement applications; administrative hearing and litigation records | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| Member’s Affidavits – Form 6019 containing non-member spouse signature; Election of retirement allowance containing non-member spouse signature; Distribution request – Refund of Member-Paid Contributions & Interest containing non-member spouse signature | Scan and retain electronic files permanently; retain physical records until end of all payment obligations to member, spouse, or beneficiary | |
| Court Judgments / Domestic Relations Orders | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| Agreements for purchase of permissive service credit (pre-membership employment, prior public service, unpaid medical leave of absence, post termination, redeposit, etc.) | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| Declarations / Indemnification signed by members concerning disposition of retirement assets in connection with a divorce or other community property interest; Waivers of interests signed by nonmember spouses concerning same | Scan and retain resultant electronic files permanently; retain physical records until end of all payment obligations to member, spouse, or beneficiary | |
| Power of attorney | Scan and retain resultant electronic files permanently; retain physical records until end of all payment obligations to member, spouse, or beneficiary | |
| Investment Records | ||
| Investment contracts | Scan and retain resultant electronic files permanently; preserve physical records for four years after termination of contract | Code Civ. Proc. §§ 337, 343 (statute of limitations) |
| Proxy voting records | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| Investment consultant reports | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| Investment manager annual reports | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| Investment manager quarterly reports | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| Records relating real estate investments from 2019 or earlier |
2014 and earlier: Do not scan; purge physical records |
|
| Records relating real estate investments from 2020 forward | Scan and retain resultant electronic files permanently; retain physical records until further notice from real estate counsel | |
| Miscellaneous Records | ||
| Member handbooks (former and current) | Scan and retain resultant electronic files permanently; retain physical records permanently after scanning | |
| General correspondence | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| 1099’s | 2011 and earlier: Do not scan; purge physical records 2012 forward: Scan and retain resultant electronic files permanently; purge physical records after scanning |
|
| Spreadsheet of 1099 records | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
| Pension payroll 1099 records | Scan and retain resultant electronic files permanently; purge physical records after scanning | |
SCERS Policy No. 038