Field Description - Ret-ME Earnable Compensation

The Ret-ME Earnable Compensation, which is associated with a Plan Code, is the amount of the employee wages used to calculate the Employer Contribution in the MainePERS Consolidated Plan.

Formulas:

• Earnable Compensation = Local or State Funded Earnings + Federally Funded Earnings

• Employer Contribution = Employer Retirement Rate for Fringe X Earnable Compensation

Tip:  For more information about the MSRS, see the Understanding the Maine Public Employees Retirement System (MainePERS) topic.

Where-Calculated:  Build Monthly Work File - Consolidated Summary Page