Treasury to Discontinue Paper Savings Bonds via Payroll Deduction Effective Sept 30

The U.S. Department of the Treasury has announced that it will stop issuing paper savings bonds through federal agencies, including the U.S. Postal Service, as of September 30.

The last opportunity you will have to purchase paper bonds through payroll deduction is in Pay Period 19 and will be reflected on your September 17 Earnings Statement. After that date, no further deductions will be taken from your earnings for the purchase of paper bonds. Your account will be closed; any unapplied funds will be returned to you.

Currently, the Treasury offers TreasuryDirect, a secure, web-based system to purchase, manage, and redeem electronic savings bonds online 24/7. First you will need to establish a TreasuryDirect account and then an allotment via PostalEase. You will need the following items to complete an online application:

-- Your Social Security Number (taxpayer identification number)
-- Your driver’s license number or state ID and expiration date
-- Your bank/credit union routing number and account number of the checking/savings account to be used
-- A valid E-Mail address
-- A web browser that supports the Treasury’s technical requirements

Once established, you will be provided bank account information to create an allotment through PostalEase. You can learn more and apply for a TreasuryDirect account at http://www.treasurydirect.gov/.

If you need assistance in adding a PostalEase allotment, contact the Human Resources Shared Service Center at 1-877-477-3273. Deaf/hard-of-hearing employees may contact TDD/TTY 1-866-260-7507.