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Savings Bonds Frequently Asked Questions

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As part of the government's push for efficiency, the Treasury Department is no longer issuing paper savings bonds through payroll deductions for Federal employees and is instead offering electronic (paperless) savings bonds, effective September 30, 2010.

Federal employees have the opportunity to invest in savings bonds through TreasuryDirect. The TreasuryDirect website, located at, offers a convenient and secure Web-based system to purchase, manage, and redeem electronic (paperless) savings bonds. Instead of the payroll savings for paper savings bonds, TreasuryDirect Payroll offers employees a direct deposit deduction. To set up this deduction, employees need to open a TreasuryDirect account, a two-step process:

Step 1: Establish a savings bond account with Treasury by visiting TreasuryDirect. Under "Individuals" choose "TreasuryDirect payroll savings." Then from that page, select the option to "open a TreasuryDirect account."

To set up an individual TreasuryDirect account, employees need their Social Security Number, a United States address of record, a checking or savings account (need to know your account and routing numbers), an email address, and a Web browser that supports 128-bit encryption.

Step 2: Set up a financial (savings) or discretionary allotment through Employee Express to establish a payroll deduction. Employee Express is located at The allotment will provide a direct deposit to fund the TreasuryDirect account.

Documents with additional information are available at the Department of the Treasury's TreasuryDirect website, including an FAQ about the elimination of paper payroll savings bonds, employee information on electronic payroll savings with TreasuryDirect, instructions for establishing a TreasuryDirect account, and a guided tour of the system.

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