Human Resources

Miami-Dade County to discontinue payroll deductions for the purchase of U.S. Savings Bonds

The U.S. Treasury Department has announced that effective January 1, 2011 they will no longer issue paper savings bonds through the payroll savings plans. As a result, Miami-Dade County will discontinue payroll deductions for the purchase of U.S. Savings Bonds. The last payroll savings bond deduction will be taken in the September 24, 2010 paycheck.  Employees will not need to take any action to cease their deduction nor to be refunded. If applicable, refunds will be reflected in the following paycheck, i.e. October 8, 2010.

While paper payroll savings bonds will no longer be available, you still have the opportunity to invest in savings bonds. Visit TreasuryDirect and create an account. You may then set up an automatic investing plan of your own by requesting that TreasuryDirect debit your personal bank account to purchase securities on a schedule of your choosing. This convenient and secure web-based system allows you to purchase, manage and redeem electronic savings bonds online 24/7.

Should you have any questions regarding the U.S. Treasury's financial products, call Treasury Retail Securities at 1 -800-245-2804. Select option 7, and then option 5.