Savings Bond Procedures Changed

Week of September 06, 2010

After Sept. 30, the U.S. Treasury will no longer issue paper savings bonds to federal employees through payroll deduction.  People can still purchase savings bonds and other Treasury securities through a deduction from their pay by creating a TreasuryDirect account at the TreasuryDirect website. Once your account is created, you can tell the Defense Finance and Accounting Service to establish a TreasuryDirect deduction. An allotment may be set up through myPay online or via mail. Retirees may also call the Retired and Annuitant Pay Contact Center at 800-321-1080. For more information on the new procedures, visit the Defense Finance and Accounting Service website.

For financial tips and guides on personal finance, visit the Military.com Finance Center.