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Retirement Planning > Social Security

Boomers and Social Security

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Oct. 15, 2007: Date the nation’s first baby boomer, Kathleen Casey-Kirschling, filed for her Social Security retirement benefits – and she did it online. Casey-Kirschling was born one second after midnight on Jan. 1, 1946, and will be eligible for benefits beginning in Jan. 2008.

10,000 per day: Number of baby boomers who will become eligible for Social Security benefits over the next two decades. Approximately 80 million boomers will become eligible in that time.

96%: Percentage of workers covered under Social Security; 52% of the workforce has no private pension coverage; 31% of the workforce has no savings set aside specifically for retirement.

17.5 years: Life expectancy of a 65-year-old today. This is up from 12.5 years in 1935.

10.1%: Poverty rate of people 65 and older; without Social Security that rate would rise to 46%.*

Source: Social Security Administration.
*Source: AARP


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