Treasury expands deduction for bonds

Washington, DC, Aug. 16 (UPI) -- The U.S. Treasury Department said Monday it is allowing nearly all employees to make automatic payroll deductions to buy U.S. savings bonds.

Under the new system, if a company's payroll system offers voluntary deductions, its employees can opt to transfer a portion of their pay directly to an Internet-accessed TreasuryDirect account, which can be set up at the Web site: www.treasurydirect.gov

"This new payroll feature within TreasuryDirect makes it possible for most employees to allot money toward the purchase of savings bonds, even those whose employers have been unable to offer such a deduction previously," said Public Debt Commissioner Van Zeck.

Series I and EE savings bonds are now available electronically through TreasuryDirect, and Treasury bills, notes and inflation-protected securities, known as TIPS, will be added to the system.

 

 

 

 

 

 

 

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