getAwiSet: Return the _National Average Wage Index_ data set.
In twjacobs/oasdir: Estimates Social Security Benefits

Description Usage Arguments Value Examples

The National Average Wage Index is used to normalize wages across different years. Wage indexing depends on the year in which a person is first elgible to receive OASDI benefits. The year of first elgibility for OASDI is at age 62. An individuals earnings are always indexed to the average wage level two years prior to the year of first eligibility. This is called the indexing year. Thus, for a person reaching age 62 in 2017, the person’s earnings would be indexed to the average wage index for 2015, which is the indexing year. A table of Average Wage Indexes is available on the Social Security web site. This data set comes from there, but it is not a real time fetch, so the data is current up to the time that this package was created. In order to determine the Average Indexed Monthly Earnings when the indexing year is beyond the last year in the AWI data, the data is fit with a model which is used to project future wage index values. If no endYear is provided the function returns the data set of measured values without any projected values.