|To:||All UPS Agencies|
|From:||Ronald S. Mitchell, Director|
OSUP will be required to purchase Savings Bonds through the Federal Reserve Bank instead of through CNB beginning with the January 1998 purchase (December deductions). This will require some changes to the bond screen (219), as well as changes in how savings bond information is entered into the system.
The major change will involve punctuation in the name fields on the bond screen. THERE CAN BE NO PUNCTUATION FOR ANY BOND NAME FIELDS (except hyphens for double last names). At this time, there will not be any system edits added for this change. The punctuation will be removed from the record during the bond purchase tape creation. Until system changes are made, agencies should begin reviewing and correcting employee bond records. Agencies must remember that all bond names (owner, co-owner, beneficiary) must be entered in first name middle initial last name format without using any punctuation (except noted above) and without indication of a title such as Mr, Mrs, Dr, etc.
Currently, if the bond owner is the employee and an "*" is entered in the OWNER SSN field, the system automatically completes the OWNER NAME, SSN and ADDR (Home Address) fields from the Basic Data screen once ENTER is pressed. Because of this automatic feature, punctuation (other than the comma between the last name and first name or a hyphen for double last names) must also be removed on the Employee Basic Data screen (211). (A subsequent OSUP memorandum on Social Security Number and Name verification will discuss in further detail the format of employee name fields on the basic data screen.)
In addition, the CO/BEN field will decrease from 30 characters to 28 characters. There will be a system change to decrease this field. Those agencies affected will be contacted by OSUP for correction prior to the first bond purchase.
The Federal Reserve Bank does not require the CO/BEN SSN. At this time, a system change will not be done to remove this field and it will continue to be an optional field on the bond screen.
If you have any questions concerning these changes, please contact Penny Jones at (504) 342-0716.