Retirement Table Maintenance (RET%nn) Prompts for Maine

Retirement Code

To create a new retirement table, enter the retirement code and click Retrieve , or press [ENTER].  Keyboard shortcut:  [ALT + t].

Or, to specify the table you want to maintain, enter a retirement code and press [ENTER]. (0-99)

Required

Example:  The table automatically changes single-digit codes into 2-digit codes.  For Retirement Code 1, enter 1 or 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• nn = Withdrawn (where nn is not 0 or 5):  Establish a retirement code for employees who have withdrawn from the retirement plan.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.

• If 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.

To update the changed information, click Save or press [ENTER].

Keyboard shortcut:  [ALT + s]

CAUTION

To avoid losing data, you must save changed records.

Description

Enter the full name of the table as the description.  (up to 79 characters)

Retirement Contributions Tab

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• For the withdrawn retirement code, enter 0.00.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• For the withdrawn retirement code, enter 0.00.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 in the retirement supplemental insurance tab.  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 tab, click the supplemental insurance tab .

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 in the retirement supplemental insurance tab.  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 tab, click the supplemental insurance tab .

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 rate.

• 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 rate.

• 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 rate.

• 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

Supplemental Insurance

Use Retirement Supplemental Insurance Rate tab to maintain the supplemental insurance rates associated with the various employee age brackets.  The supplemental insurance rates are used to calculate the employee supplemental insurance premium deduction and the employer paid portion of the supplemental insurance premium.  

Notes:  

• The employee's date of birth is used to determine their age as of April first of the year.

• You will maintain supplemental insurance rates for each retirement code that you have, including one for retired.

Base Age Level

For current employees, enter the age they must be by 04/01/2008 to be grand-fathered at a certain supplemental insurance base rate. (3.0 numeric)

Tip:  As long as the person continues as an employee they will be charged the grand-fathered base rate for the supplemental insurance rate.

Base Rate

Enter the supplemental insurance rate to use to calculate the employee portion of the supplemental insurance premium for employees who meet the base age level criteria. (6.2 numeric)

Employer Share

Enter the supplemental insurance rate to use to calculate the employer paid portion of the supplemental insurance premium that the employer pays for employees who meet the base age level criteria. (6.2 numeric)

Note:  Below, you can maintain up to seven age breaks and associated employee supplemental insurance rates and employer paid portion supplemental insurance rates.

Age – Less than or equal to

Enter the age the employee must be less than or equal to be assessed the supplemental insurance rate. (3.0 numeric)

Supp Insurance Rate

Enter the supplemental insurance rate for the corresponding age to use to calculate the employee’s portion of the supplemental 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.

Tip:  For Retirement Code 5 (RET%05), enter the retiree rate.  For the Withdrawn Retirement Code, enter 0.00.

Also Called:  Ret-ME Supplemental Ins Rate for Ded

Employer Share

Enter the supplemental insurance rate for the corresponding age, which is used to calculate the employer’s portion of the supplemental life insurance premium. (6.2 numeric)

Example:  If the rate is 0.8, enter .80.  The rate is divided by 1000 during the calculations.

Tip:  For Retirement Code 5 (RET%05), enter the retiree rate.  For the Withdrawn Retirement Code, enter 0.00.

Also Called:  Ret-ME Supplemental Ins Rate for Employer Paid

Retirement Table Maintenance (RET%nn) Prompts for Massachusetts

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 1 or 01.  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)

Retirement Table Maintenance (RET%nn) Prompts for New Hampshire

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 1 or 01.  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)