Tuesday, October 20, 2009

Series EE Savings Bonds

Series EE Savings Bonds are available through a payroll deduction program. Bonds can be deducted as a one-time only purchase, or set up as an ongoing deduction.
Series EE Savings Bond purchases will be handled on a one to one basis. This type of Savings Bond has a purchase price of half the face value of the bond. For example, an employee wishes to purchase a $50 Series EE Bond. Upon authorization from the employee, we will deduct the $25 purchase price in one sum, from one check only. We will then purchase the bond for the employee.
Bonds are mailed directly to the employee by the Federal Reserve Bank, and take 4-6 weeks from the time of the first deduction to arrive.
This transaction requires that the employee complete a bond purchase authorization form, a copy of which is available at the Danbury Office. The original signed, completed form will be sent directly to EOC Payroll.
For more information about Savings Bonds, please refer to the Federal Reserve Bank website: http://www.savingsbonds.gov/

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