Payroll Savings for Paper Savings Bonds
This year, Treasury will stop issuing paper savings bonds through employer-sponsored payroll savings plans. Printing fewer paper bonds reduces the cost of the savings bond program and fits with our long-term goal of one day issuing all of our securities electronically.
As of September 30, 2010, federal employees will no longer be able to purchase paper savings bonds through payroll deduction. The end date for all other (non-federal) employees is January 1, 2011. See our FAQ.
Paper savings bonds will remain available for purchase through financial institutions.
If you are interested in a direct deposit deduction instead, TreasuryDirect Payroll offers an alternative to payroll savings for paper savings bonds.
Making Changes to Your Payroll Account
You should contact your payroll or benefits office to find out about:
- Changing the amount of your allotment.
- Canceling your payroll allotment.
- Purchasing a different series of savings bonds.
- Changing your mailing address. Please note that there is no need to change the address on savings bonds you have already received. The Treasury will not reissue savings bonds just to change the address.
- Changing the name on your bonds including changing the co-owner or beneficiary or correcting an error. The procedures differ for previously issued bonds compared with bonds that haven't been issued yet. For previously issued bonds see information about changing the names on bonds.
- Adding a co-owner or beneficiary or buying more bonds to be issued in another name (for example, a son, daughter, or grandchild).
