Fifth Judicial District - Department of Correctional Services

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TITLE: Savings Bond Deduction

POLICY

Any employee of the Fifth Judicial District Department of Correctional Services who works thirty (30) or more hours a week is eligible to purchase U.S. Savings Bonds through payroll deduction. Bonds may only be purchased in $100.00 increments (purchase price of $50.00). The Department shall deduct the employee’s share from each paycheck and forward it to the Federal Reserve.

PROCEDURES

  1. The purchase of U.S. Savings Bonds may be made bi-weekly or monthly. To achieve a bi-weekly purchase, the employee’s deduction must be at least $50.00. To achieve a monthly purchase, the bi-weekly deduction amount needs to be $25.00.
  2. An employee wishing to purchase or make changes to deductions for U.S. Savings Bonds, through payroll deduction, shall fill out the necessary forms provided by the Accounting Technician.
  3. Additional information regarding the U.S. Savings Bond program can be obtained from the Accounting Technician.
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