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Retention Schedule refers to a records management document that specifies requirements for storing, categorizing and disposing various documents and records within an organization. It explains employees how they should keep, treat, and dispose their records and documents in their workplaces. It can be designed as a timeline that includes special events for managing papers and requirements for managing the document retention process.
In some organizations, retention schedules are called record disposition schedules or record control schedules. Retention schedules help personnel to keep their documents and records organized, up-to-date and revised. A typical schedule of record retention includes the following components:
- Timeline that describes the length of time each record or paper will be retained as active.
- Requirements that specify document retention rules (legal, fiscal, historical).
- Labels or special marks that help categorize papers by some attributes including date and title.
- Disposition that describes where each document or record will be stored and when it should be either archived or destructed.
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