Wage Index

(redirected from Wage Indices)

Wage Index

In the United States, a table one uses to calculate how much to pay a retired person in Social Security benefits. Factors affecting a wage index include the number of years a person worked and his/her average wage or salary during his/her working life.
References in periodicals archive ?
Annual Update to the Wage Index: The ESRD wage indices are adjusted on an annual basis using the most current hospital wage data and the latest Core-Based Statistical Area (CBSA) delineations to account for differing wage levels in areas in which ESRD facilities are located.
He cited potential problems in the uniformity of taxes, labor laws and wages, since regions in the federal system would have different wage indices due to their different working conditions and respective peculiarities.
Wage indices for metropolitan statistical and non-urban areas were obtained from CMS hospital wage index file and used to adjust for local price levels.
Because the rates fully transition from the old Metropolitan Statistical Area (MSA) wage indices to the new Core-Based Statistical Area (CBSA) wage indices, which supposedly better reflect local labor costs.
Reimbursement rates are now calculated on the Core-Based Statistical Area (CBSA) wage indices, instead of the Metropolitan Statistical Area (MSA) wage indices.
a transition to new wage indices for the majority of providers
In 1980 the correlation between the log wage index of workers with less than nine years of schooling and that of college graduates was only 0.72.(22) To illustrate how the same state may offer relatively different opportunities to different types of workers, consider the log wage indices for New York and California.