When you create a server plan and select a backup destination, you can choose to enable extended retention rules in addition to specifying a retention period.
Extended retention rules allow you to keep specific full (or synthetic full) backups for an additional period of time.
Extended retention rules allow you to define three additional "extended" retention periods for full (or synthetic full) backups. For example:
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You may want to retain your weekly full backups for 30 days.
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You may want to retain your monthly full backup for 90 days.
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You may want to retain your yearly full backup for 365 days.