Workers Compensation Fund Division. Accounting16600--Actuarial studies
AGENCY: Workers Compensation Fund Division. Accounting
TITLE: Actuarial studies
DESCRIPTION: These records are used to determine what liabilities are dedicated to open claims and what portion of the fund's reserves need to be set aside to meet those claims for the coming year. It is also used to help determine premiums and dividends. Includes statistical worksheets of current year's payments to claims and past years' claim payments, annual reports which include narratives on how the findings were determined, and charts and graphs on claim expenditures for current year and past years.
RETENTION AND DISPOSITION AUTHORIZATION
These records are in Archives' permanent custody.
Paper: Retain in Office for 3 years and then destroy.
Computer data files: Retain in Office until no longer administratively valuable and then transfer to magnetic tape.
Computer magnetic storage media: Retain in Tape Library for 72 years and then erase.
Paper: For records beginning in 1925 through 1925. Retain in State Archives permanently with authority to weed.
This retention is based on a conversation with the division's actuary Alan Kaur who feels that the longer the data is preserved the more value it has for future computing.