www.pstif.org/minutes_jan_08.html -
[Cached Version]
Published on: 1/23/2008
Last Visited: 7/5/2008
Carol R. Eighmey, Executive Director
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Ms. Eighmey then commented briefly on other bills of interest described in the Trustees' notebooks, including the appropriations bills that authorize spending from the PSTIF.
Record Retention Schedule Ms. Eighmey explained that the PSTIF, as a state agency, is allowed to store files in the State Archives, which is managed by the Missouri Secretary of State.In order to do this, however, she said a record retention schedule for the Board's various types of files must first be submitted to and approved by the State Records Commission.Ms. Eighmey referenced the draft schedule in the Trustees' notebooks and asked Trustees for comments on how long the Fund's underwriting and claims files should be retained.
Some Trustees opined the records should be kept indefinitely.Others asked whether the records can be scanned and stored digitally.Ms. Eighmey noted that about ¼ of the documents being received by Williams & Company Consulting for insurance renewals are being submitted in electronic form, and that Williams has recently initiated some scanning and electronic document storage procedures for their claims staff; she noted Williams' focus is on scanning and storing new documents, and commented that the Board's 15 years of historical records also are creating a storage challenge.
Trustees suggested Ms. Eighmey undertake some research to determine what would be involved in scanning the PSTIF's historical records, noting that costs to scan documents would be offset, to some degree, by the savings in storing paper records for many years.