AutoArchive feature is missing

My mailbox is getting full and I wanted to archive some of my older emails with AutoArchive. However, it looks like I don’t have this feature available in Outlook at all.

A search revealed that update KB2412171 for Outlook 2007 might be to blame here, but I don’t have that installed as I use Outlook 2010.

How can I get the AutoArchive feature in Outlook?