An official website of the Tennessee Secretary of State.
Core Data
RDA Number
1151
Effective Date
Record Series Abstract
Records consist of membership files for participants in the state's 401(k) plan, 457(b) plan, and/or Optional Retirement Program (ORP). Documents include, but are not limited to: participation agreements, notification letters, contribution records, hardship or unforeseeable emergency requests, cancellation forms, and any additional correspondence. Record series also includes quarterly statements generated by the third party plan administrator for all participants.
Record Series Active
Yes
Cut Off at End of
Other
If Other, Explain
Termination of the contract between the state and a third party plan administrator.
Total Retention Years
7
Total Retention Months
0
Retention End Action
Destroy
Disposition Notes
All records are held by a third party administrator. Records are retained by the plan administrator for 7 years following the termination of the contract. Upon the contract's termination and the award of a new contract, data is transferred electronically from the old administrator to the new administrator. Active participants are transferred and inactive destroyed after seven years.
Worksheet
Record Location
Andrew Jackson Building, 13th floor
File Arrangement
alpha and numeric
Media Format Stored
Electronic
Date Range
to
Agency
Allotment Code
309
Annual Accumulation
N/A
Current Volume
N/A
Record Value
Administrative
Fiscal
Audit Requirements
State
Information Shared Outside the State
No
Essential Record
Yes - Original
Essential Record Stored
essential record stored electronically and held by third party plan administrator; Treasury department has access to the database
Essential Record Media Type
Electronic
Confidential
No
Confidential Legal Citation
TCA 8-25-109 (Deferred compensation plan act -- confidentiality of records); TCA 8-25-307 (Profit sharing or salary reduction plans -- confidentiality of records); TCA 10-7-504 (Confidential records -- exceptions)
Does this Record Series Contain Sensitive Information?
No
Agency Retention
7 years
Records Center Retention Period
N/A
Retention Legal Citation
N/A
Electronic Records Plan Inventory
System Name
System meets or exceeds STS requirements. Information not publicly listed due to security reasons.
Hardware Description
System Hardware meets or exceeds STS requirements. Information not publicly listed due to security reasons.
Software Description
System Software meets or exceeds STS requirements. Information not publicly listed due to security reasons.
Backup Procedures
System Backup Procedures meet or exceed STS requirements. Information not publicly listed due to security reasons.
Disaster Recovery
System Disaster Recovery meets or exceeds STS requirements. Information not publicly listed due to security reasons.
Data Migration Description
System Data Migration meets or exceeds STS requirements. Information not publicly listed due to security reasons.
RDA Comments
Records Management Division (RMD)
02-26-2015
No recommended changes.
Tennessee State Library and Archives
02-27-2015
No recommended changes.
Comptroller Audit Review
02-27-2015
We have reviewed RDA 1151 from an audit standpoint. We concur with the recommended retention and disposition specifications.
Agency Records Officer
03-02-2015
Agency concurs.
RMD Director
03-04-2015
RDA 1151 is a request to revise an RDA. The retention period will change from 99 years (permanent)to seven years and destroy after a contract change. This is to reflect the legal requirements of what is retained in the system. Records of participants no longer in the plan do not have to be retained after seven years. Format will be electronic. Recommend approval of RDA 1151.
Public Records Commission
03-30-2015
RDA 1151 approved by the PRC.