How often does everyone review/update the LO Comp policy? Is there an actual citation stating a timeframe? Ours hasn't be reviewed or updated since 2013. Which to me seems like this would be one that gets updated on an annual basis unless I'm drinking too much silly stuff... Any thoughts

I would suggest reviewing it when you update it for regulatory changes or changes in your LO Compensation. If it hasn't been looked at since 2013 you are probably due. If it doesn't reflect your actual practices the policy isn't very useful.

The policy doesn't even hint at what we are actually practicing which is why I am trying to get this on the plate for review. But as with anything with compliance am running into a little resistance.

Once a year here. Before budget time - we start the budget process in September, for the following year. All adds to staff and their compensation needs to be ironed out ahead of that - or risk having your adds to staff whacked during the budgeting process!