Final Answer:
ADEA requires employer to retain records of an employee's name, address, date of birth, occupation, pay rate and compensation for Three years. Thus the correct option is (B).
Step-by-step explanation:
The Age Discrimination in Employment Act (ADEA) mandates that employers retain records of an employee's name, address, date of birth, occupation, pay rate, and compensation for a period of three years. This retention period is crucial for ensuring compliance with the ADEA regulations and facilitates the enforcement of anti-discrimination measures within the workplace.
The three-year timeframe aligns with the general recordkeeping requirements set forth by the ADEA, emphasizing the significance of maintaining accurate and accessible records related to employees' personal and compensation details. This duration strikes a balance between allowing organizations to manage their records efficiently and providing a reasonable timeframe for regulatory oversight.
The retention period serves multiple purposes, including facilitating investigations into potential age discrimination cases, ensuring transparency in compensation practices, and promoting accountability in employment matters. Adhering to the three-year recordkeeping requirement not only fulfills legal obligations but also contributes to a fair and equitable work environment by enabling authorities to review relevant information when needed. Employers should implement robust recordkeeping systems to manage and retain the specified employee information for the prescribed duration, thereby demonstrating their commitment to upholding the principles of the ADEA.