Which of the following documents has a two-year retention period?

The correct answer regarding the document with a two-year retention period is based on the guidelines provided by the Fair Labor Standards Act (FLSA) and related regulations. Work time schedules are considered essential records for payroll and labor compliance and are necessary to verify that employees are compensated in accordance with their working hours. According to the regulations, work time schedules should be retained for a minimum of two years after they are created.

Understanding the retention requirements for various documents is crucial for compliant payroll administration. Other options have different retention requirements according to regulations:

• The employee's occupation does not fall under specific retention periods outlined for payroll documentation.

• Hospital workers' agreements to 8/80 plans may be tied to collective bargaining agreements but typically do not have a defined two-year retention period in the same way that work time schedules do.

• Form I-9, which is used to verify an employee’s eligibility to work in the U.S., has a retention requirement of three years after the date of hire or one year after termination, whichever is longer.

Recognizing these distinctions helps ensure proper compliance with legal obligations in payroll management.