PERS - COVKEY01

COVKEYxx
This common code defines the employer and employee rate associated with a coverage group (or Unit within a coverage group). Note that the EMPLOYER rate(s) entered in the numeric values below are used in the summary calculations at the end of the PERS report to determine the actual amount owed to PERS by the employer and therefore it is very important that these rates be kept current and accurate for the period being reported.
Code Category: PERS
Code Value: COVKEY01 - COVKEYxx
Short Description: Not used
Medium Description: Not used
Long Description: Not used
Associated Numeric Values
1-5: Employer paid rate associated with coverage group/unit in corresponding description (e.g., if 7.1%, enter "7.1").
Associated Codes
1-5: Employee paid rate associated with coverage group/unit in corresponding description (e.g., if 7.1%, enter "07100").
Associated Descriptions
1-5: Coverage Group in the first 5 positions of this field. If there are multiple Units within a coverage group AND the employer and/or employee rate differs for the various Units, then enter a separate line for each Unit and place the applicable 3-digit Unit number in positions 7-9 of the Associated Description. If ALL Units within a coverage group have the same employer and employee rates, leave positions 7-9 blank. For example, if a coverage group (70001, for instance), has two units (let's use 542 and 543) which have different employer rates (4.5 and 5.0, in our example), and another coverage group (70002) has several Units but they all have the same employer and employee rates, then the entries will appear as follows (in our example, all employee rates are the same, that is, 7 percent):
Numeric ValueCode Description
4.50000 07000 70001 542
5.00000 07000 70001 543
4.50000 07000 70002