Human Resources

University of Massachusetts > Human Resources > Savings Bonds

The Savings Bond Plan is a voluntary plan that allows employees to authorize a post-tax deduction from their net pay to purchase U.S. Savings Bonds. Employees can purchase multiple bonds from a single deduction in the payroll system.

Savings Bond Deductions:

• Are offered to all Commonwealth employees;
• Are available through an employee's payroll office;
• Are deducted in every biweekly pay period;
• Are available on a voluntary post-tax basis; and
• Require EE Savings Bond Form.

Types of Savings Bonds Offered

Currently, Series EE appreciation type bonds with face values of $100, $200, $500 and $1000 are available for purchase through the payroll system.

Beneficiary Designations

Employees can designate up to two beneficiaries or co-owners for each bond. The bonds that are purchased will be distributed to the owners in the sequence specified by the employee.

Missing Bonds

If an employee is missing a bond, they must contact his/her payroll Department to resolve the issue.

To Enroll

Contact Human Resources for a Savings Bond form.