The power steering beeps wait for 60 seconds after turning on the key (You can reset them by shutting the key off and turning it back on).
I removed my power steering computer in my '86 because it started beeping. It started beeping because I removed the power steering. I removed the power steering because it leaked and I got in trouble for making a mess in my parking spot at work.
The actual issue is two fold, there is a sensor for steering angle and another on the pump (maybe pressure control or something). If either of these readings are out of spec, the computer throws a code.
To make sure, try pulling fuses until the beeping quits, that should isolate the problem.
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1986 GXL ('87 4-port NA - Haltech E8, LS2 Coils. Defined Autoworks Headers, Dual 2.5" Exhaust (Dual Superflow, dBX mufflers)
1991 Coupe (KYB AGX Shocks, Eibach lowering springs, RB exhaust, Stock and Automatic)
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