According to this resource from Energy.gov, records (and supporting documents) relating to payroll on prevailing wage projects should be retained for at least 3 years after project's overall completion. Of course, it's probably a good idea to retain some version of these records well beyond that date in case of an issue down the line - and it should be easy to retain digital copies of those documents beyond the 3-year window.
For more information regarding prevailing wages, this resource has good basic information: How Do Prevailing Wage Laws Work in Construction? For more information on how to comply with those requirements, it might be helpful to seek out a federal prevailing wage compliance consultant or firm.
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