A storage system includes a storage medium operable to maintain a data set, a read/write head assembly operable to write the data set to the storage medium and to read the data set from the storage medium, a multi-level encoder operable to encode the data set at a plurality of different code rates before it is written to the storage medium, and a multi-level decoder operable to decode the data set retrieved from the storage medium and to apply decoded values encoded at a lower code rate when decoding values encoded at a higher code rate.