1. A method for handling data, the method comprising: generating a retimed data stream by buffering a received data stream in an elastic first in first out buffer; identifying a plurality of individual slice segments within said generated retimed data stream based on phase interpolation of said generated retimed data stream; computing one or more bit error rate metrics for each of said plurality of identified individual slice segments; and determining an operational state based on said computed one or more bit error rate metrics, wherein a single frame transported within said generated retimed data stream comprises at least a portion of two or more of said plurality of individual slice segments.