A method and system for operating a communication circuit that is configurable to support one or more communication standards on a single device. The communication circuit includes a transmitting device that comprises a PCS module operating at a first data rate, and a second PCS module operating at a second data rate. The circuit also includes a plurality of forward error correction (FEC) encoding and decoding modules, each operating at a specified data rate. A first group of FEC encoding and decoding modules is configured to support the first PCS module, and a second group of FEC encoding and decoding modules is configured to support the second PCS module.