Can the IEP be "archived" so that you can keep last year's IEP and make a new one too?

Yes.

1. Click on the “Validate” button on the IEP menu, make any necessary changes, and then click the “Finalize” button.
2. A copy of the IEP will be put in the “History” tab.
3. From the Forms Menu, click on the “History” tab to view forms that have been put into history for that student.