getAimeValue: Indexed earnings are FICA earnings that have been adjusted...

In twjacobs/oasdir: Estimates Social Security Benefits

Description

Indexed earnings are FICA earnings that have been adjusted using a ratio of the National Averge Wage Index (AWI) for an individuals indexing year over the Average Wage Index for the year the earnings were realized. The indexing year is the year two years prior to the Normal Retirement Age (NRA) year (i.e., the year a person turns 60. This function returns the Average Indexed Monthly Earnings (AIME) for the highest 35 years of indexed earnings. Note the AIME calculation always uses 35 years of earnings even if it means some years of $0 earnings must be included. If the endYear is in the future, estimates of FICA earnings and AWI are used and appropriate warnings are issued.

Usage

getAimeValue(ssStmt = NULL, endYear = NULL, predict = FALSE)

Arguments

ssStmt	the Social Security Statement as retrieved through read_xml_ssStatement()
endYear	the last year to include in the calculation
predict	if TRUE then use a MARS model to predict future earnings

Value

The Average Indexed Monthly Earnings value

Examples

getAimeValue(ssStmt = JQPublicStatement, endYear = 2021, predict = FALSE)

twjacobs/oasdir documentation built on July 28, 2019, 5:51 a.m.