Beginning November 15, 2010, traditional savings bond payroll deductions will no longer be available. Instead, you can sign up for an account with TreasuryDirect to purchase savings bonds and other U.S. Treasury marketable securities and send a payroll direct deposit to your TreasuryDirect account.
Follow the steps below to set up a payroll direct deposit to your TreasuryDirect account.
- Open an account with TreasuryDirect at http://www.treasurydirect.gov.
- Set up an "Other" bank detail on-line through LEO, using the routing number (RTN) and account number provided by TreasuryDirect and enter the amount you want to deposit.
- Or complete a Direct Deposit form (OSUP/F12B) and turn the form into your Employee Administration office for entry into ISIS HR.
Note that this is an "Other" bank detail and that funds are allocated to this account prior to "Main" bank accounts. Also, if funds are returned from your TreasuryDirect account, they will be reissued and replaced as a check. These funds cannot be resent to your TreasuryDirect account.
OSUP does not have any involvement in the purchase of savings bonds other than forwarding the funds to your TreasuryDirect account through direct deposit. You should thoroughly review the information available on the TreasuryDirect website for details regarding this service.
Refer to the following links for additional information.
- TreasuryDirect Brochure
- TreasuryDirect Website
- Emergency Rule for Savings Bond Plan - The state of LA promulgated an emergency rule to accommodate these changes made by the U.S. Department of Treasury.