Source and target replication - setting different retention policy

Running 6.3

I have a source and target configured at two separate locations with replication. I want to be able to split my recovery points to that my hourly, daily backups are stored on the source, but then my weekly, monthly, yearly are kept at the target. Having trouble wrapping my head around this...Is this how it would be done?
Source Policy:
Keep all recovery points for 3 days.
…and then keep one recovery point per hour for 3 days
…and then keep one recovery point per day for 4 days
…and then keep one recovery point per week for 1 weeks
…and then keep one recovery point per month for 0 months
…and then keep one recovery point per month for 0 year
Target Policy:
Keep all recovery points for 3 days.
…and then keep one recovery point per hour for 3 days
…and then keep one recovery point per day for 4 days
…and then keep one recovery point per week for 3 weeks
…and then keep one recovery point per month for 2 months
…and then keep one recovery point per month for 1 year

Thanks

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