Technical Appendix to LABOUR SUPPLY: THE ROLES OF HUMAN CAPITAL AND THE EXTENSIVE MARGIN
نویسندگان
چکیده
In the actual rule (which we simplify somewhat in the text), Social Security taxable earnings (SSTE) are first indexed (adjusted) to reflect real dollar values by using national average wages for the year the beneficiary reaches age 60. The SSTE is also capped by a maximum value and this cap has increased over time (see Table A1). Once indexed, the 35 highest adjusted SSTE years are selected to compute AIME. If the beneficiary continues to work after applying for SS benefits, AIME is recomputed (and may increase if income from the additional year is higher than one of the previous selected 35 years).
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