Data Retention Policy
Updated: June 2022  

This Data Retention Policy (“Policy”) represents The Learning Consortium, LLC (“TLC”) policy regarding retention and disposal of documents, records and data. Corporate documents, records and data of TLC and its clients are important assets, and include essentially all records you produce as an executive, employee or an applicable third party working for TLC, as well as those you may receive from a client, whether paper or electronic.

As used in this policy, “data” includes all written, electronic (e-mail or otherwise), or graphic matter, however produced or reproduced, whether draft or final, original or reproduction, including, but not limited to, writings, drawings, graphs, charts, photographs, phone records, and other compilations from which information can be obtained, or translated, if necessary, through detection devices into reasonably usable form. This policy applies to TLC data and client data regardless of where it is stored, including personal computers, laptops, cloud-based platforms, etc.

PURPOSE OF POLICY

The purposes of this Policy are for TLC to establish a schedule of data and document retention and destruction procedure that preserves necessary records and promotes the proper treatment of records of TLC. Specifically, this Policy is in place to ensure that necessary data of TLC and its clients are adequately protected and maintained and to ensure that data that is no longer needed by TLC or is of no value is discarded in the proper manner and at the proper time.

The law requires TLC to maintain certain types of data, usually for a specific period of time. It is vital that data is retained as provided for in this Policy.

RETENTION OF PERSONAL INFORMATION

 TLC shall retain personal information, as defined by applicable law, for only the amount of time necessary to serve the data’s specific purpose, as detailed below, or as required by law. TLC shall dispose of personal information within a reasonable amount of time, after it is no longer needed for business purposes by erasing electronic media or disposing of paper records so that the information cannot be read or reconstructed.

TLC shall comply with any contractual obligations as it pertains to the retention and destruction of personal and/or other data.

RETENTION OF OTHER DATA

Records and other data should not be kept if they are no longer needed for the operation of TLC’s activities or required by law. Unnecessary records should be eliminated from the files.

From time to time, TLC may establish retention or destruction policies or schedules for specific categories of records in order to ensure legal compliance, and also to accomplish other objectives, such as preserving intellectual property and cost management. Several categories of documents that warrant special consideration are identified below. While minimum retention periods are established, the retention of the documents identified below and of documents not included in the identified categories should be determined primarily by the application of the general guidelines set forth above affecting document retention, as well as the exception for litigation relevant documents and any other pertinent factors.

EXCEPTION FOR LITIGATION RELEVANT DOCUMENTS

TLC expects all executives and employees to comply fully with any published records retention or destruction policies and schedules, provided that all officers, directors, and employees should note the following general exception to any stated destruction schedule: If you believe, or TLC informs you, that certain records of TLC are relevant to litigation, or potential litigation (i.e., a dispute that could result in litigation), then you must preserve such records until it is determined that the records are no longer needed. This exception supersedes any previously or subsequently established destruction schedule for any such records. 

MINIMUM RETENTION PERIODS FOR SPECIFIC CATEGORIES

  1. Organizational Records. Organizational records include, but are not limited to: TLC’s Certificate of Organization and the Operating Agreement. Organizational Records should be maintained indefinitely.

  2. Tax Records. Tax records should be retained for at least seven (7) years from the date of filing the applicable return.

  3. Employment Records/Personnel Records. State and federal statutes require TLC to keep certain recruitment, employment and personnel information. TLC should also keep personnel files that reflect performance reviews and any complaints brought against TLC or individual employees under applicable state and federal statutes. TLC should also keep in the employee’s personnel file all final memoranda and correspondence reflecting performance reviews and actions taken by or against personnel. Employment applications should be retained for three (3) years. Retirement and pension records should be kept permanently. Other employment and personnel records should be retained for seven (7) years.

  4. Press Releases/Public Filings. TLC should retain permanent copies of all press releases and publicly filed documents under the theory that TLC should have its own copy to test the accuracy of any document a member of the public can theoretically produce against TLC.

  5. Legal Files. Legal counsel should be consulted to determine the retention period of particular documents, but legal documents should generally be maintained for a period of ten (10) years.

  6. Marketing and Sales Documents. TLC should keep final copies of marketing and sales documents for the same period of time it keeps other corporate files, generally three (3) years. An exception to the three-year policy may be sales invoices, contracts, leases, licenses, and other legal documentation. These documents should be kept for at least six (6) years beyond the life of the agreement.

  7. Development/Intellectual Property and Trade Secrets. Development documents are often subject to intellectual property protection in their final form (e.g., patents, trademarks and copyrights). The documents detailing the development process are often also of value to TLC and are protected as a trade secret where TLC:

    i.         derives independent economic value from the secrecy of the information; and

    ii.         has taken affirmative steps to keep the information confidential.

    TLC should keep all documents designated as containing trade secret information for at least the life of the trade secret.

  8. Client Data. TLC should keep Client Data, other than Derived Data, only for so long as necessary or as prescribed in the Client agreement. TLC shall delete all Client Data, other than Derived Data and Personal Information, within three (3) years of cessation of the client relationship unless required contractually or by law to keep such information.

  9. Derived Data. TLC shall keep all analytic data that is derived from individual program participants. TLC shall also keep data that is derived from individual program participants, including but not limited to: individual name, email address, phone number, and employment, if such data is developed independently of Client Data. For example, if individual participants subscribe to other TLC services, TLC shall maintain such subscription information for so long as necessary but in any event at least three (3) years beyond the last interaction with the individual participant or until the individual participant opts-out of all TLC services.

  10. Data Subject Requests: TLC shall delete data as requested by individuals, if required under applicable law. If such individuals have rights to delete, access, rectify, or stop processing of personal information, TLC shall comply with such requests as prescribed by applicable law.

  11. Contracts. Final, execution copies of all contracts entered into by TLC should be retained. TLC should retain copies of the final contracts for at least six (6) years beyond the life of the agreement, and longer in the case of publicly filed contracts. TLC should retain revised versions or working versions of contracts for three (3) years beyond the life of the contract. TLC should maintain all other business records associated with the contract for a three (3) years beyond the life of the contract.

  12. Correspondence. Unless correspondence falls under another category listed elsewhere in this policy, correspondence should be maintained for so long as necessary for our business purposes but, at a minimum, should be maintained for three (3) years.

  13. Banking and Accounting. Accounts payable ledgers and schedules should be kept for seven (7) years. Bank reconciliations, bank statements, deposit slips and checks (unless for important payments and purchases) should be kept for three (3) years. Any inventories of products, materials, and supplies and any invoices should be kept for seven (7) years.

  14. Insurance. Expired insurance policies, insurance records, accident reports, claims, etc. should be kept permanently.

  15. Audit Records. External audit reports should be kept permanently. Internal audit reports should be kept for three (3) years.

p.             Determination of Security Incident/Security Incident Register. Written determinations and evaluations regarding TLC’S security incidents shall be maintained for at least six (6) years.

DESTRUCTION

Once this Policy dictates that data should no longer be kept or maintained, the Records must be disposed of in a manner reasonably calculated to render them unrecoverable and incapable of reconstruction.