Conference Session

Engineering Economy Division (EED) Technical Session 1

Collection

2024 ASEE Annual Conference & Exposition

Authors

Ted Eschenbach, University of Alaska ; Neal A. Lewis, University of Nebraska

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy Division (EED)

qualitativefactors that often drive decisions [17]. Let that analysis start in mid- to late-career when more isknown.The Language of Social Security and Designing the Case StudyCommunicating about social security relies heavily on key concepts and the acronyms used todescribe them. The starting point is Average Indexed Monthly Earnings (AIME), which is theaverage of an individual's highest 35 years of earnings, adjusted for wage inflation. The AIME isused to determine the Primary Insurance Amount (PIA), which is the monthly benefit anindividual will receive if they start benefits at their normal retirement age (NRA). The NRA is 67for those born after 1960. Until recently the NRA was labeled as the full retirement age (FRA).The Average Wage Index (AWI) is