Is anyone aware of what rules there are, if any, concerning what documents and records must be retained by a TPA firm and in what format? I am specifically concerned with trading confirmations and participant and plan level statements. I would like to store these documents in electronic format such as CD ROM. I dont see any reaon why if the SEC says these documents can be stored electronically that the DOL would have a problem.

DOL published proposed regs at 64 Fed. Reg. 4505 (1/28/99). IRS Rev. Proc. 97-22 is also on point. Both permit electronic recordkeeping, but subject to numerous conditions.

I have a question for 33fan. Do those regulations apply to TPAs or just to employers?