Field Description - Ret-ME Dependent Ins Amt Per Pd for Ded

The Ret-ME Dependent Ins Amt Per Pd for Ded is the amount per pay period for the employee's portion of the dependent life insurance premium for the MainePERS deduction.

Example:  If the amount per pay period is $0.42, enter .42.

Tips:

• Enter the amount that covers all of the dependents.  The calculations do not take into account the employee's Number of Federal Dependents or Number of State Dependents.

• Usually the pay period is one week, as defined in the Ret-ME MSR Expected Pay Pds per Year field.

• Reserved Retirement Codes:

• 0 = No Retirement:  Retirement Code 0 (zero) is reserved for No Retirement or Maine State Insurance.  You can not create a table for Retirement Code 0.

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

• nn = Withdrawn (where nn is not 0 or 5):  There should be a user-defined Retirement Code for employees who have withdrawn from the retirement plan.  Enter 0.00 (zeros) in this field to handle W-2 processing properly.

• Payroll handles deductions for retirement separately from other payroll deductions.  Generally, you do not need to maintain the retirement deductions during Employee Master Scheduled Deductions Maintenance.
  Exception:  If you use the Vendor Invoices and Checks Feature to pay retirement benefits, you must set up deductions and the associated fringe benefits.  For more information, see MSR Deductions Table Maintenance (MSR DEDS).

• For information about the calculations that use this field, see the Understanding the Maine Public Employees Retirement System (MainePERS) topic.

Where-Maintained:  Retirement Table Maintenance (RET%nn)

Format:  6.2 numeric