NMU's Compliance Database - Northern Michigan University

The University must preserve records as required by law.  

For two years: Basic employment and earnings records, wage rate tables, records of additions to or additions to or deductions from wages paid, and all records used in determining original, operating and maintenance costs, and depreciation and interest charges.

§ 516.6 Records to be preserved 2 years.

(a) Supplementary basic records: Each employer required to maintain records under this part shall preserve for a period of at least 2 years.

(1)Basic employment and earnings records. From the date of last entry, all basic time and earning cards or sheets on which are entered the daily starting and stopping time of individualemployees, or of separate work forces, or the amounts of work accomplished by individualemployees on a daily, weekly, or pay period basis (for example, units produced) when those amounts determine in whole or in part the pay period earnings or wages of those employees.

(2)Wage rate tables. From their last effective date, all tables or schedules of the employer which provide the piece rates or other rates used in computing straight-time earnings, wages, or salary, or overtime pay computation.

For three years:

§ 516.5 Records to be preserved 3 years.

Each employer shall preserve for at least 3 years:

(a)Payroll records. From the last date of entry, all payroll or other records containing theemployee information and data required under any of the applicable sections of this part, and

(b)Certificates, agreements, plans, notices, etc. From their last effective date, all written:

(1) Collective bargaining agreements relied upon for the exclusion of certain costs under section 3(m) of the Act,

(2) Collective bargaining agreements, under section 7(b)(1) or 7(b)(2) of the Act, and any amendments or additions thereto,

(3) Plans, trusts, employment contracts, and collective bargaining agreements under section 7(e) of the Act,

(4) Individual contracts or collective bargaining agreements under section 7(f) of the Act. Where such contracts or agreements are not in writing, a written memorandum summarizing the terms of each such contract or agreement,

(5) Written agreements or memoranda summarizing the terms of oral agreements or understandings under section 7(g) or 7(j) of the Act, and

(6) Certificates and notices listed or named in any applicable section of this part.