Payroll Services

U.S. Savings Bonds

Payroll deduction to purchase U.S. savings bonds is available through Payroll Services. Employees may purchase up to three bonds per month. Available bond types are "EE" and "I." There are two ways in which a bond may be deducted:

1. The entire amount may be deducted each month.
2. Two equal deductions may be made to complete the purchase—one half of the total amount in each month.

Effective February 1, 2003, bonds cannot be redeemed within 12 months. Bonds issued January 2003 and earlier can be redeemed after six months. Additional information is available at Treasury Direct at http://www.savingsbonds.gov/.

To enroll in the savings bonds payroll deduction program, please print the U.S. Savings Bond Payroll Authorization form*, complete and sign it, and submit it to Payroll Services. The paper form is also available from Payroll Services in MAI 134.

To cancel a bond, please do one of the following:

1. Complete the same U.S. Savings Bond Payroll Authorization form and choose option: "Cancel this Bond."
2. Send a handwritten request providing your full name, social security number, effective date of cancellation, and signature to Payroll Services.
3. Send an e-mail to Payroll Services. Please include in your e-mail your UT EID, the type and face value of the bond, and the effective date of cancellation.

To make a change in ownership, purchase method, face value, or co-owner/beneficiary for future bonds purchase, please complete the U.S. Savings Bond Payroll Authorization form* and submit it to Payroll.

Additional Information:

To change bonds already issued, to redeem a bond, or to request a re-issue for a lost bond, please visit Treasury Direct at http://www.savingsbonds.gov/ for more information, or call Treasury Direct at 1-800-333-2919.

* NOTE: Best viewed with Adobe Acrobat Reader 6.0 or later. Earlier versions may result in incomplete rendering of information. A free update of Adobe Acrobat Reader may be obtained from Adobe.