WASHINGTON -- The leading edge of the "silver tsunami" that many fear could overwhelm Social Security moved closer Monday as the very first American baby boomer applied online for retirement benefits.
Born one second after midnight Jan. 1, 1946, Kathleen Casey-Kirschling is recognized as the first of almost 80 million babies born between that year and 1964 who are expected to receive Social Security retirement benefits during the next 20 years -- more than 10,000 a day.
A retired teacher from Camden, N.J., Casey-Kirschling said she feels "lucky to be at the top of the boom."
With a few clicks of the mouse, Casey-Kirschling completed her online application for early-retirement benefits before a crowd of photographers and reporters at the National Press Club.
Applicants for early-retirement benefits can apply three months before their 62nd birthday. The retirement date for full benefits is gradually increasing to age 67 for those born after 1960, and people in that group who retire at 62 will receive a monthly benefit about 30 percent smaller than those who wait until 67.
By 2030, nearly one in five Americans will be 65 years or older. The Social Security Trustees have predicted the program will have enough resources to fully pay benefits until 2041, after which it would be able to pay about 75 percent of benefits if no changes are made.
Casey-Kirschling said her generation won't let Social Security fail.
"I think the baby boomers will want to get this fixed," she said. "They're going to want to take care of their children and their grandchildren."