Field Description - Ret-ME MSR Annual Salary

The Ret-ME MSR Annual Salary is the expected annual earnings for the employee.  This value is used to calculate the basic, supplemental, and dependent withholding amounts for life insurance premiums.

Also Called:  Life Insurance Level

Tips:

• 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.

• The amount in the field is rounded to the nearest thousand in the calculation routines.

• For detailed instructions for the MSR fields, refer to the appropriate Maine Public Employees Retirement System (MainePERS) Payroll Reporting Manual.

• For more information, see the Understanding the Maine Public Employees Retirement System (MainePERS) topic.

Where-Maintained:  Employee Master Maintenance - Employee Retirement Fields Area, Set Annual Salary

Format:  7.0 numeric