U.S. Savings Bonds
- You may set up a Payroll Savings Plan to purchase electronic savings bonds in TreasuryDirect.
- The Payroll Savings Plan feature allows you to make recurring purchases of electronic Series EE and Series I Savings Bonds, funded by a payroll allotment. Simply set up your Payroll Savings Plan and schedule a regular payroll allotment with PCC. Payroll will send the allotment directly to your TreasuryDirect account.
- Setting up your Payroll Savings Plan in TreasuryDirect:
- Before asking PCC to start your payroll allotment, you must first set up a Payroll Savings Plan in your TreasuryDirect account. You will need to provide registration and purchase information.
- You may purchase either Series EE or Series I Savings Bonds for any amount from $25 to $5,000. Electronic savings bonds are always purchased at full face value.
- You may use any registration you have listed in TreasuryDirect or you may add a new registration for your savings bond. Gift savings bonds are also available through the Payroll Savings Plan.
- Setting up a Payroll Allotment with your employer:
- After you have your TreasuryDirect account set up, fill out and send in the Savings Bond Direct Deposit Form to the PCC Payroll Department, DC-101. Provide the following information for scheduling electronic deposits into your TreasuryDirect account:
- TreasuryDirect’s Routing Number 051736158;
- Your ten-digit TreasuryDirect account number, without hyphens, followed by the letter “P” (Example: A123456789P);
- The amount of your allotment; and
- Type of account. Your TreasuryDirect account can be marked as a type 22 (checking) or 32 (savings). We will accept either type.
- The incoming credits from PCC Payroll will result in the purchase of a Payroll Zero-Percent Certificate of Indebtedness (Payroll C of I) within your TreasuryDirect account. Each time your Payroll C of I balance reaches your designated purchase amount, a savings bond will be issued. (For example, if your payroll allotment is $10 each pay period, and you have chosen a purchase amount of $25, after your third allotment is received, a $25 savings bond will be purchased from your Payroll C of I and the remaining balance will be $5 until the next allotment is received.)
- Please Note:
- A Payroll Zero-Percent Certificate of Indebtedness is a Treasury security that does not earn any interest. It is intended to be used as a source of funds to purchase Series EE and Series I Savings Bonds through the Payroll Savings Plan.
- Stopping your payroll allotment and redeeming your Payroll C of I:
- You must contact PCC Payroll to stop your payroll allotment. There is no need to edit your Payroll Savings Plan information when you stop your allotment.
- You may redeem all or part of your Payroll C of I by going to Manage Direct and selecting the Redeem Securities text link. You may choose to redeem the full amount or a partial amount. You must select a payment destination bank for the Payroll C of I. Note: Redemption of your Payroll Zero-Percent C of I does not stop your payroll allotment.
- Viewing Payroll Savings Plan transaction records:
- You can access history records about savings bonds purchased through the Payroll Savings Plan, view records about your Payroll C o f I transactions, and view changes made to your Payroll Savings Plan by clicking the History tab.
For more information and to set up your TreasuryDirect account, please visit the TreasuryDirect web site.