U.S. Savings Bond
Frequently Asked Questions Regarding U.S. Savings Bonds
- Can I purchase savings bonds through the payroll deduction program?
- How can I still purchase savings bonds?
- Will I be able to purchase savings bonds through payroll deductions in the future?
- When were funds in the savings bond escrow account refunded?
- What happens if the savings bond escrow refund warrant could not be delivered to the payee?
- How can I find the savings bond account number on the paper savings bond?
- How is the interest rate determined for Series EE savings bonds?
- Is there a minimum period I must hold the savings bonds before I can cash it?
- Are there any tax advantages to purchasing savings bonds?
- What if my savings bond(s) gets lost or stolen?
- If I would like to find out how much interest my savings bonds have earned or if I have other questions about savings bonds, is there somewhere I can find this information?
Yes. You will be able to re-establish a payroll plan under the TreasuryDirect program to purchase U. S. Savings Bonds after your department begins using the MyCalPAYS, the state’s new payroll system. Please check our web site at http://www.sco.ca.gov/21century.html to see when your department will be moving to MyCalPAYS.
Since the timeline for the rollout of MyCalPAYS to California State University (CSU) employees has not been determined, CSU employees are encouraged to purchase savings bonds and other treasury notes directly through the TreasuryDirect program.
For more information on the extension to the holding period, go to the TreasuryDirect Minimum Holding Period For Savings Bond website.
You must send a letter to our office with the following information: your name, SSN, current mailing address, phone number, dates of bonds and authorized signature, explaining what has occurred. The State Controller's Office will provide you with a listing of U.S. Savings Bonds issued for the period cited in your letter and a form that you can use to contact the Department of Treasury Bureau of Public Debit.
The requestor’s letter should be mailed to the following address:
State Controller's Office
Personnel/Payroll Services Division
P.O. Box 942850
Sacramento, CA 94250-5878
ATTN: Bond Unit