Could you give specifics on which meter, what range and what device was used to calibrate it? Obviously if the difference between last year and this time is mostly drift, your fears are justified. Also, if you measure 110ppm and the limit is 120ppm, then you would need to have a TUR >10 to not adjust, otherwise you are in the grey zone. I'm assuming your 120ppm is the all-factors annual limit, not something else. As for when you adjust, part of the equation is the uncertainty of the calibration equipment. For normal use equipment, if you have a TUR >10, you might as well always adjust unless you have some specific reason not to.