NEW YORK (CNNMoney.com) - Unlike today's seniors, the next generation of retirees is old-fashioned about direct deposit of paychecks and other payouts -- according to a survey released Tuesday, the "kids" don't trust it.

The survey, sponsored by the Department of the Treasury and the Federal Reserve Banks, found that 72 percent of seniors use direct deposit. In contrast, only 59 percent of Americans ages 45-64 -- the bulk of the baby boomer generation -- said they use it.

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The findings could mean significant costs and security implications for Americans.

"If the trend with pre-retirees continues, the sheer size of the 77 million baby boomer population -- coupled with impending postage increases -- will drive up the government's costs to issue paper checks exponentially... and taxpayers will bear the burden," Dick Gregg, commissioner of the Treasury's Financial Management Service, said in a statement.

According to the survey, there were three main reasons given by the people who don't use direct deposit: 21 percent said they like to go to a financial institution to deposit their check; 19 percent said they don't trust direct deposit; and 18 percent said they like receiving a paper check.

The study was conducted as part of the government's "Go Direct" campaign, aimed at encouraging Americans who receive Social Security and other government benefit checks to have their money deposited directly into their bank or credit union accounts.

The telephone survey of 1,400 adults was conducted in December by KRC Research and had a 2.6 percent margin of error.

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