Employee Retirement Fields Area Prompts

Tip:  To see more information about a field, click the hyperlink for the field name.

WARNING:  To avoid losing your data, you must click Save at the main Employee Master Maintenance window after you close this window.

Retirement Code

Enter the Retirement Code.  (2.0 - 0 through 99)

Tips:

• Each Retirement Code must have an associated retirement table defined during Retirement Table Maintenance (RET%nn).

• Reserved Retirement Codes:

• 0 = No Retirement:  Retirement Code 0 (zero) is reserved for No Retirement or Maine State Insurance.

• 5 = Retired:  Use Retirement Code 5 for retirees.

• nn = Withdrawn (where nn is not 0 or 5):  Establish a specific Retirement Code for employees who have withdrawn from the retirement plan.

Life Insurance Code

Enter the MSR Life Insurance Code, which controls the calculation of the life insurance deductions.  The code is determined by the insurance plan chosen by the employee.  (up to 3 characters)

Personnel Status Code

Enter the Personnel Status Code (also referred to as the employee status code), which indicates the employee's job status.  (2.0 numeric)

Note:  This field must not be blank for the employee to be included in the Monthly Retirement Report.

Position Class Code

Enter the Position Classification Code, which indicates the employee's job role.  (up to 5 characters)

Note:  This field must not be blank for the employee to be included in the Monthly Retirement Report.

Pay Rate Code

The Pay Rate Code establishes whether the value in Expected Hrs/Dys per Pay Pd is expressed in hours or days.  Click one of the following Pay Rate Codes in the drop-down list:  (H/D/C)

7.5% Retirement Member

Note:  This field is not in use.  Always de-select the box.

Annual Salary

Enter the employee's expected annual salary for calculating the basic, supplemental, and dependent insurances.  (7.0 numeric)

Tip:  You can manually maintain this field for each employee.  Or, to save time you can run the Set Annual Salary program on April 1st to update the employees from the amounts saved at Year End by the Save Retirement Earnings YTD routine.

% Local/State Funded

Enter the percent of the employee's pay that is funded by the state or local government.  (3.1 numeric)

Note:  The sum of the Local/State and Federally Funded percents must equal 100.0%.

% Federal Funded

Enter the percent of the employee's pay that is funded by the federal government.  (3.1 numeric)

Note:  The sum of the Local/State and Federally Funded percents must equal 100.0%.

Expected Hrs/Dys per Week

Enter the number of full-time hours or days per pay period expected for the employee's job position.  (2.2 numeric)

Note:  The Pay Rate Code determines whether this value contains hours or days.

Expected Weeks per Year

Enter the number of pay periods in a year expected for a full-time employee in this job position.  (2.0 numeric)

Report Remark

Enter the MSR Report Remark Code to print on the Monthly Retirement Report.  (up to 4 characters)

Note:  If participating in a Retirement Consolidation Plan, the first two characters of the code must be the same as the Plan Code.

Retirement Payback

Enter the retirement dollar amount deducted each pay period for the employee.  (3.2 numeric)

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