Retirement Table Maintenance (RET%nn)

Tips:

You can maintain multiple retirement tables during this maintenance.
Each Retirement Code must have an associated retirement table (RET%nn), where nn represents the Retirement Code.
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: Create a table for Retirement Code 5 for retirees.
nn = Withdrawn (where nn is not 0 or 5): Establish a Retirement Code for employees who have withdrawn from the retirement plan. To handle W-2 processing properly, create the corresponding table and enter 0.00 (zeros) in all of the fields.

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 more information, see the Understanding the Maine Public Employees Retirement System (MainePERS) and Understanding Fringe Benefits topics.
For detailed instructions for the MainePERS fields, refer to the appropriate Maine Public Employee Retirement (MainePERS) System Payroll Reporting Manual.
For more information about working with data in fields, see the Data Entry Guidelines.

Click Payroll from the Menu Bar.
Click Miscellaneous File Maintenance.
Click Table FM.
Click Numeric Tables.
Click Retirement Table (RET%nn).

Tip: Or, use the keyboard shortcut: [ALT] [p] [m] [n] [i].

CAUTION: To avoid losing data, you must save new or changed records.

To display the record to be changed, enter the Retirement Code and click Retrieve or press [ENTER].
Keyboard shortcut: [ALT + t]
To position the pointer to the information that you want to change, press [TAB] or click the field using the mouse.
Enter the data changes.
To complete the edit process, click Save , or press [ENTER].
Keyboard shortcut: [ALT + s]

Note: To maintain data integrity, you can not delete any retirement tables.

Retirement Table Maintenance (Maine) Window Example:

Caution: You can not delete any retirement table that you create.

To create a new retirement table for Maine:

Open Retirement Table Maintenance.
In the Retirement Code field, enter the Retirement Code for the new table and click Retrieve , or press [ENTER].
Keyboard shortcut: [ALT + t].

Tip: To indicate that you are building a new retirement table, New displays near the Retirement Code. Default entries display and the first field is highlighted to let you know you can begin entering information.

Retirement Table Maintenance (RET%nn) Prompts for Maine Tip: To see more information about a field, click the hyperlink for the field name.
Retirement Code	To specify the table you want to maintain, enter a two-digit Retirement Code. (format varies) Required Example: The table automatically changes single-digit codes into 2-digit codes. For Retirement Code 1, enter 1or01. The retirement table becomes RET%01. Note: Special 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: Create a table for Retirement Code 5 for retirees. nn = Withdrawn (where nn is not 0 or 5): Establish a Retirement Code for employees who have withdrawn from the retirement plan. To handle W-2 processing properly, create the corresponding table and enter 0.00 (zeros) in all of the fields.
	To update the changed information, click Save or press [ENTER]. Keyboard shortcut: [ALT + s]
	CAUTION To avoid losing data, you must save changed records.
	Search is not active for this program.
	To display an existing table, specify the Retirement Code and click Retrieve, or press [ENTER]. Keyboard shortcut: [ALT + t]
Title	Enter the Table Title, which is an abbreviated name for the table. (up to 14 characters)
Description	Enter the Table Description, which is the full name of the table. (up to 79 characters)
Retirement Contributions
Retirement Rate	Enter the Retirement Rate, which is the percentage used to calculate the employee's portion of the retirement contribution for the deduction. (6.2 numeric) Example: If the rate is 6.5%, enter 6.50. Tips: For Retirement Code 5 (RET%05), enter the retiree rate. For the Withdrawn Retirement Code, enter 0.00. Also Called: Ret-ME Retirement Rate for Ded
Life Insurance Premiums
Ded Rate - Basic Insurance Rate	Enter the Basic Insurance Rate, which is used to calculate the employee's portion of the basic life insurance premium for the deduction. (6.2 numeric) Example: If the rate is 0.8, enter .80. The rate is divided by 1000 during the calculations. Tips: For Retirement Code 5 (RET%05), enter the retiree rate. For the Withdrawn Retirement Code, enter 0.00. Also Called: Ret-ME Basic Ins Rate for Ded
Benefit Rate - Basic Insurance Rate	Enter the Basic Insurance Rate, which is used to calculate the employer's portion of the basic life insurance premium for the fringe benefit. (6.2 numeric) Example: If the rate is 0.8, enter .80. The rate is divided by 1000 during the calculations. Tips: For Retirement Code 5 (RET%05), enter the retiree rate. For the Withdrawn Retirement Code, enter 0.00. Also Called: Ret-ME Basic Ins Rate for Fringe
Ded Rate - Supp Insurance Rate	Please leave blank. Notes: The deduction rates for supplemental insurance are age-based and are maintained during the Retirement Supplemental Insurance Rate Table. The deduction rate for supplemental insurance is used to calculate the employee's portion of the supplemental life insurance premium for the deduction. To open the Retirement Supplemental Life Insurance Rate Table, click the Supplemental Insurance Rate field label. Also Called: Ret-ME Supplemental Ins Rate for Ded
Benefit Rate - Supp Insurance Rate	Please leave blank. Notes: The benefit rates for supplemental insurance are age-based and are maintained during the Retirement Supplemental Insurance Rate Table. The benefit rate for supplemental insurance is used to calculate the employer paid portion of the supplemental life insurance premium. To open the Retirement Supplemental Life Insurance Rate Table, click the Supplemental Insurance Rate field label. Also Called: Ret-ME Supplemental Ins Rate for Employer Paid
Ded Rate - Dependent Ins Amount Per Pay Pd	Enter the Dependent Insurance Amount Per Pay Period, which is the flat amount per pay period for the employee's portion of the dependent life insurance premium for the deduction. (6.2 numeric) Example: If the amount per pay period is $0.74 to cover all dependents, enter .74. Tips: For Retirement Code 5 (RET%05), enter the retiree rate. For the Withdrawn Retirement Code, enter 0.00. Also Called: Ret-ME Dependent Ins Amt Per Pd for Ded
Benefit Rate - Dependent Ins Amount Per Pay Pd	Enter the Dependent Insurance Amount Per Pay Pd, which is the amount per pay period for the employer's portion of the dependent life insurance premium amount. (6.2 numeric) Example: If the amount per pay period is $0.74, enter .74. Tips: For Retirement Code 5 (RET%05), enter the retiree rate. For the Withdrawn Retirement Code, enter 0.00. Also Called: Ret-ME Dependent Ins Amt Per Pd for Employer Paid
Basic Insur Exemption Amt & Base	Enter the Basic Insurance Exemption Amount, which is subtracted from the MSR Annual Salary to create a trigger point for deducting the employee's portion of the basic life insurance premium. (6.2 numeric) Example: If the employee's annual salary is 25,000, and he or she should start paying for basic insurance when his or her annual earnings amount reaches $15,000, then enter an exemption amount of 10000.00. Note: NDS suggests that you enter the exemption amount rounded to the nearest thousand. Tips: For Retirement Code 5 (RET%05), enter the retiree amount. For the Withdrawn Retirement Code, enter 0.00. Also Called: Ret-ME Basic Ins Ex Amount for Ded
Basic Insur Amt & Base	Enter the Basic Insurance Base for the employer paid portion, which is an annual salary cap used to limit the employer's portion of the basic life insurance premium amount. (6.2 numeric) Example: If the employer stops paying the fringe benefit when the employee's earnings amount reaches 10,000, then enter a base amount of 10000.00. Note: NDS suggests that you enter the base amount rounded to the nearest thousand. Tips: For Retirement Code 5 (RET%05), enter the retiree amount. For the Withdrawn Retirement Code, enter 0.00. Also Called: Ret-ME Basic Ins Base for Benefit Rate
Supplemental Insur Exemption Multi/Amt & Base	Enter the Supplemental Insurance Exemption Multiplier or Amount, which is used to calculate the starting point for when the employee's portion of the supplemental life insurance premium deduction is triggered to begin. (6.2 numeric) Tips: Unlike the basic exemption which is always a flat amount, the supplemental exemption can contain either a multiplier value or a flat exemption amount. If the value is 0.01 through 0.99, then it is used as a multiplier. Example: If the multiplier is 3 (3 times the annual salary), enter .03. If the value is 1.00 or greater, it is consider a flat dollar amount. Example: If the flat amount is $10,000.00, enter 10000.00. Note: NDS suggest that you enter the flat dollar amount rounded to the nearest thousand. For Retirement Code 5 (RET%05), enter the retiree multiplier or amount. For the Withdrawn Retirement Code, enter 0.00. Also Called: Ret-ME Supplemental Ins Ex Multi/Amount for Ded
Supplemental Insur Exemption Multi/Amt & Base	Enter the Supplemental Insurance Exemption Limit, which is an annual salary cap to limit the employer's portion of the supplemental life insurance premium. (6.2 numeric) Example: If the employer stops paying the premium amount when the employee's earnings amount reaches 10,000, then enter a base amount of 10000.00. Note: NDS Suggests that you enter the base amount rounded to the nearest thousand. Tips: For Retirement Code 5 (RET%05), enter the retiree amount. For the Withdrawn Retirement Code, enter 0.00. Also Called: Ret-ME Supplemental Ins Base for Employer Paid

Massachusetts Retirement Table Maintenance Window Example:

Caution: You can not delete any retirement table that you create.

To create a new retirement table for Massachusetts:

Open Retirement Table Maintenance.
In the Table ID field, enter the Retirement Code for the new table and click Retrieve , or press [ENTER].
Keyboard shortcut: [ALT + t].

Tip: To indicate that you are building a new retirement table, New displays near the Table ID. Default entries display and the first field is highlighted to let you know you can begin entering information.

Retirement Table Maintenance (RET%nn) Prompts for Massachusetts Tip: To see more information about a field, click the hyperlink for the field name.
Table ID	To specify the table you want to maintain, enter a two-digit Retirement Code. (format varies) Required Example: The table automatically changes single-digit codes into 2-digit codes. For Retirement Code 1, enter 1or01. The retirement Table ID becomes RET%01. Note: Special Retirement Codes... 0 = No Retirement: Retirement Code 0 (zero) is reserved for No Retirement. You can not create a table for Retirement Code 0. 5 = Retired: Create a table for Retirement Code 5 for retirees. nn = Withdrawn (where nn is not 0 or 5): Establish a Retirement Code for employees who have withdrawn from the retirement plan. To handle W-2 processing properly, create the corresponding table and enter 0.00 (zeros) in all of the fields.
	To update the changed information, click Save or press [ENTER]. Keyboard shortcut: [ALT + s]
	CAUTION To avoid losing data, you must save changed records.
	Search is not active for this program.
	To display an existing table, specify the Table ID and click Retrieve, or press [ENTER]. Keyboard shortcut: [ALT + t]
Title	Enter the Table Title, which is an abbreviated name for the table. (up to 14 characters)
Description	Enter the Table Description, which is the full name of the table. (up to 79 characters)
Base Ret Rate	Enter the Regular Retirement Rate. (6.2 numeric)
30+ Ret Rate	Enter the 30+ Retirement Rate. (6.2 numeric)
Retirement Base	Enter the Retirement Base amount. (6.2 numeric)

New Hampshire Retirement Table Maintenance Window Example:

Caution: You can not delete any retirement table that you create.

To create a new retirement table for New Hampshire:

Open Retirement Table Maintenance.
In the Table ID field, enter the Retirement Code for the new table and click Retrieve , or press [ENTER].
Keyboard shortcut: [ALT + t].

Retirement Table Maintenance (RET%nn) Prompts for New Hampshire Tip: To see more information about a field, click the hyperlink for the field name.
Table ID	To specify the table you want to maintain, enter a two-digit Retirement Code. (format varies) Required Example: The table automatically changes single-digit codes into 2-digit codes. For Retirement Code 1, enter 1or01. The retirement Table ID becomes RET%01. Note: Special Retirement Codes... 0 = No Retirement: Retirement Code 0 (zero) is reserved for No Retirement. You can not create a table for Retirement Code 0. 5 = Retired: Create a table for Retirement Code 5 for retirees. nn = Withdrawn (where nn is not 0 or 5): Establish a Retirement Code for employees who have withdrawn from the retirement plan. To handle W-2 processing properly, create the corresponding table and enter 0.00 (zeros) in all of the fields.
	To update the changed information, click Save or press [ENTER]. Keyboard shortcut: [ALT + s]
	CAUTION To avoid losing data, you must save changed records.
	Search is not active for this program.
	To display an existing table, specify the Table ID and click Retrieve, or press [ENTER]. Keyboard shortcut: [ALT + t]
Title	Enter the Table Title, which is an abbreviated name for the table. (up to 14 characters)
Description	Enter the Table Description, which is the full name of the table. (up to 79 characters)
Retirement W/H Federal Tax Exempt	Enter the Ret-NH Federal W/H Tax Exempt Code (6.2 numeric)
Percent Under the Limit	Enter the Ret-NH Percent Under the Limit (6.2 numeric)
Percent Over the Limit	Enter the Ret-NH Percent Over the Limit (6.2 numeric)
Total Earnings Limit	Enter the Ret-NH Total Earnings Limit (6.2 numeric)
Normal Control Percent	Enter the Ret-NH Normal Control Percent (6.2 numeric)
Administrative Control Percent	Enter the Ret-NH Administrative Control Percent (6.2 numeric)
Accrued Liability	Enter the Ret-NH Accrued Liability (6.2 numeric)