Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

First Baby Boomer Receives Social Security
The Denver Channel ^ | 02/12/08

Posted on 02/12/2008 7:37:17 PM PST by MotleyGirl70

Direct Deposit Expected To Be More Common

VERO BEACH, Fla. -- The nation's first baby boomer received her first Social Security retirement benefit Tuesday in Vero Beach, Fla., local station station WPBF is reporting.

Kathleen Casey-Kirschling was born one second after midnight on Jan. 1, 1946. The 62-year-old retired teacher who lives in Earleville, Md., and Vero Beach applied for her benefits online, and received her payment by direct deposit.

"Like many of her fellow boomers, Kathy leads a full and busy life," said Jim Courtney, Social Security deputy commissioner for communications. "By choosing direct deposit, Kathy's benefit is safely and conveniently deposited into her bank account. No matter where in the country - or the world - Kathy is, her money is as close as the nearest ATM or just a mouse click away through online banking."

This marks another milestone for the post-World War II generation.

Federal officials in Florida are calling her "a trendsetter for her generation" since she decided to receive her benefits by direct deposit.

"Direct deposit is a win for everyone," said Judith R. Tillman, commissioner of Treasury's Financial Management Service. "For the last three years, Treasury has led a campaign called Go Direct to educate Americans about the many benefits of direct deposit. We at Treasury congratulate Kathy on receiving her first Social Security payment and on her decision to Go Direct."

At an event Tuesday in Vero Beach, Social Security also premiered a new video public service announcement that promotes filing online for retirement benefits. The video, featuring Casey-Kirschling, was posted to the Social Security Web site Tuesday afternoon.

Social Security officials claim that direct deposit eliminates the risk of lost or stolen checks, reduces fraud, helps protect against identity theft and gives people more control over their money. Direct deposit also saves taxpayers millions of dollars. According to the Financial Management Service, if every current federal benefit check recipient switched to direct deposit, it would save taxpayers about $130 million a year.

Over the next two decades, nearly 80 million baby boomers -- about 10,000 per day -- will become eligible for Social Security.

If no changes are made, the Social Security trust fund is projected to deplete its reserves in 2041 and will begin paying out more in benefits that it collects in payroll taxes in 2017.


TOPICS: Culture/Society; News/Current Events; US: Florida
KEYWORDS: babyboomers; genx; retirement; seniors; socialsecurity
Navigation: use the links below to view more comments.
first previous 1-20 ... 101-120121-140141-160161-164 next last
To: MotleyGirl70

2017 is my year. I doubt I’ll collect as much as if I had invested the money.


141 posted on 02/13/2008 4:59:05 AM PST by CholeraJoe (Maybe tonight he'll be gone.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Terpfen
I’ve got a net worth of $650.

That's a good down-payment. Keep it coming.

142 posted on 02/13/2008 5:20:15 AM PST by poindexter
[ Post Reply | Private Reply | To 12 | View Replies]

To: MotleyGirl70; ItsOurTimeNow; PresbyRev; Fraulein; StoneColdGOP; Clemenza; m18436572; InShanghai; ...
Xer Ping

Ping list for the discussion of the politics and social (and sometimes nostalgic) aspects that directly effects Generation Reagan / Generation-X (Those born from 1965-1981) including all the spending previous generations are doing that Gen-X and Y will end up paying for.

Freep mail me to be added or dropped. See my home page for details and previous articles.

143 posted on 02/13/2008 6:00:13 AM PST by qam1 (There's been a huge party. All plates and the bottles are empty, all that's left is the bill to pay)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Wolfie
Not to worry. I’m sure Gen X will up and volunteer to give up their SS when the time comes so Gen Y doesn’t have to pay the tax.

I think they will too, since they are so much less selfish than the Boomers.....all they do is give give give.

144 posted on 02/13/2008 6:36:37 AM PST by HerrBlucher
[ Post Reply | Private Reply | To 139 | View Replies]

To: Terpfen
I’ve got a net worth of $650. If that’s all it takes, deal!

Psst. Government does not care what your net worth is. They are interested in your current earnings and you future earning potential only. Net worth is your problem, not the governments. Ain't that nice and fair.

I wish I could hand over all my money now and never be bothered by taxes again.

BTW - a positive net worth at 23 is a good start. Many of us, after college, start out deep in the red. If your net worth involves some autos and property, you should consider yourself wealthy.

145 posted on 02/13/2008 7:09:47 AM PST by Tenacious 1 (We have the ability to shape & polish turds, make em smell nice & sell them as public services)
[ Post Reply | Private Reply | To 12 | View Replies]

To: ToastedHead
If I move some old people into my house, can I get Boomer Credits on next year’s taxes?

My mother in law commented on what a nice house we have when we made our last move. She was facinated that there was plenty of room for the in laws to move in with us when they get old. I took her to the back of the house and showed her the living arrangements we had planned should it ever come to that.

Ma, don't worry, by the time you need to come live with us the shed back there will have lights and heat. I can move the mower and snow blower to the garage.

146 posted on 02/13/2008 7:18:34 AM PST by Tenacious 1 (We have the ability to shape & polish turds, make em smell nice & sell them as public services)
[ Post Reply | Private Reply | To 37 | View Replies]

To: Tenacious 1
Psst. Government does not care what your net worth is.

Read the post I was replying to. We weren't talking about the gubmint.

And I do indeed own my car outright. The only payments I make on it are gas and insurance.
147 posted on 02/13/2008 7:21:16 AM PST by Terpfen (Romney's loss in Florida is a catastrophe.)
[ Post Reply | Private Reply | To 145 | View Replies]

To: Myrddin
Why so little at age 23? I owned two cars and a condominium, had a wife and my first son by that age. All that after completing UCSD and a year of grad school. Hop to it! My 24 year old son had 60 employees and 3 offices last year. The sub-prime debacle killed his business in San Diego. I'm moving him up to Pocatello to restart.

At least you are humble.

148 posted on 02/13/2008 7:23:52 AM PST by Tenacious 1 (We have the ability to shape & polish turds, make em smell nice & sell them as public services)
[ Post Reply | Private Reply | To 63 | View Replies]

To: rednesss
Huh???? Every public employee retirement system that I know about is able to have benefits continue on to a named beneficiary.

Certain conditions for that apply depending on the specific cause of demise. I will leave it at that.

149 posted on 02/13/2008 7:27:26 AM PST by Tenacious 1 (We have the ability to shape & polish turds, make em smell nice & sell them as public services)
[ Post Reply | Private Reply | To 84 | View Replies]

To: Terpfen

Keep at it. You are doing great. It sounds like you have some additional challenges to overcome as well. My condolences on your loss.

It sounds cliche but there is truth in the idea that tough times builds character. Character builds a person. A person with strong character and determination is bound to find success.


150 posted on 02/13/2008 7:31:30 AM PST by Tenacious 1 (We have the ability to shape & polish turds, make em smell nice & sell them as public services)
[ Post Reply | Private Reply | To 147 | View Replies]

To: eyedigress

I know that a lot of people paid in to the system for many years. But there are many little old ladies that worked from say 1949-1954 and then a little part time here and there. They get full benifits and they tend to live a long time.
God bless them, but ouch.


151 posted on 02/13/2008 7:32:50 AM PST by Unassuaged (I have shocking data relevant to the conversation!)
[ Post Reply | Private Reply | To 73 | View Replies]

To: MotleyGirl70
November 14th, 2008, my wife is going after hers before the accounts run dry. I have a couple of years yet, but do not really expect much to be there, unless the Marxists keep their promises to us, and tax all those evil rich into the ground and there are a few bucks left by then.
152 posted on 02/13/2008 7:34:41 AM PST by RetiredArmy (VOTED: Disgruntled Voter of the Month)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Terpfen
I’m 23. Combining this news story with the imminent election of a liberal (whether it be a Republican or a Democrat) I may as well just bend over and grab my ankles.

No, you can't do that - if people your age made that choice, the broken system wouldn't even make it to 2041. Nope, stand up and go to work and pay, pay, pay. The "me" generations got to have theirs, and yours, and everyone's....

153 posted on 02/13/2008 7:46:56 AM PST by GOPJ (Take your ball - go home - sit this one out? Fifty years of liberal Supreme Court decisions? NO WAY.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Tenacious 1; Terpfen
I'm driving to San Diego tomorrow to fetch my 24 year old son. Suffice to say, his net worth took a sudden plunge when the real estate market in San Diego came to a grinding halt. I'm renting a U-Haul truck on Friday morning to haul his "net worth" up to Pocatello. The repo man carted his car away yesterday. My plan is to provide food, shelter and a car so he can step up and repay his creditors.

My dad put me through college. He said he didn't want to be repaid. My obligation was to do the same for my kids.

154 posted on 02/13/2008 8:26:06 AM PST by Myrddin
[ Post Reply | Private Reply | To 148 | View Replies]

To: MotleyGirl70

Figures she’s in MD. How appropriate!


155 posted on 02/13/2008 8:27:02 AM PST by the OlLine Rebel (Common sense is an uncommon virtue.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MotleyGirl70

We are younger Americans are screwed....


156 posted on 02/13/2008 8:27:59 AM PST by yield 2 the right
[ Post Reply | Private Reply | To 1 | View Replies]

To: Terpfen

Put as much as you can in the 401k because SS will want you to retire at 72 or 75


157 posted on 02/13/2008 9:47:02 AM PST by omega4179 (Year of the Rat, and the Rino!)
[ Post Reply | Private Reply | To 2 | View Replies]

To: omega4179

Here is a huge and obvious flaw.

We move the goal posts back so fewer people can kick. As American’s live longer, they move the age back. They call it proportioning. But they do not change the benefits that are doled out (hardly). IE - They collect for longer, which adds more providers, more die before they can collect, which provides fewer collectors and the amount you receive for your effort remains (almost) unchanged.


158 posted on 02/13/2008 10:31:05 AM PST by Tenacious 1 (We have the ability to shape & polish turds, make em smell nice & sell them as public services)
[ Post Reply | Private Reply | To 157 | View Replies]

To: Tenacious 1

Thanks, hadn’t thought of that. Still one should always have access to the funds that they contributed absent the employer matching funds.


159 posted on 02/13/2008 11:13:21 AM PST by rednesss (Fred Thompson - 2008)
[ Post Reply | Private Reply | To 149 | View Replies]

To: Myrddin

Oh, wow. I’m sorry to hear that. Good luck to you and your son.


160 posted on 02/13/2008 8:49:13 PM PST by Terpfen (Romney's loss in Florida is a catastrophe.)
[ Post Reply | Private Reply | To 154 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-20 ... 101-120121-140141-160161-164 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson