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The United States Department of the Treasury (Treasury) has announced that as a cost-savings move it will stop issuing paper Savings Bonds through employer-sponsored payroll savings plans by the end of the year. This change to the U.S. Savings Bond Program will support the Treasury's long-term plan to issue all securities electronically. While paper payroll savings bonds will no longer be available, City employees will still have the opportunity to invest in savings bonds and other Treasury securities through TreasuryDirect, a convenient and secure web-based system that allows employees to purchase, manage and redeem paperless savings bonds 24/7 from home.
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