Field Description - Ret-ME MSR Life Insurance Code

The Ret-ME MSR Life Insurance Code (also referred to as the Group Life Insurance Code) controls how Check Entry calculates the withholding amounts for Maine State Retirement Basic Insurance, Supplemental Insurance, and Dependent Insurance.  The code relates to the insurance plan chosen by the employee.

Tips:

• The second digit of any codes beginning with F or S represents a multiplication factor for the insurance withholding calculations.  For more information, see the Understanding the Maine Public Employees Retirement System (MainePERS) topic.

• Payroll only calculates fringes for specific Life Insurance Codes, based on the first character of the code:

• B, S, F, or H:  Basic life insurance fringes

• S or F:  Supplemental life insurance fringes

• F or H:  Dependent life insurance fringes

• For detailed instructions for the MainePERS fields, refer to the appropriate MainePERS Payroll Reporting Manual.

The following list includes valid MSRS codes for the three insurance withholding amounts:

• B - Basic Insurance Only

• F1A - Basic, Supplemental 1 & Dependent Plan A

• F2A - Basic, Supplemental 2 & Dependent Plan A

• F3A - Basic, Supplemental 3 & Dependent Plan A

• F1B - Basic, Supplemental 1 & Dependent Plan B

• F2B - Basic, Supplemental 2 & Dependent Plan B

• F3B - Basic, Supplemental 3 & Dependent Plan B

• HA - Basic & Dependent Plan A

• HB - Basic & Dependent Plan B

• S1 - Basic & Supplemental 1

• S2 - Basic & Supplemental 2

• S3 - Basic & Supplemental 3

Where-Maintained:  Employee Master Maintenance - Employee Retirement Fields Area

Format:  up to 3 characters