FOR RELEASE:
August 27, 2012

U.S. Treasury Offers Safe, Affordable and Convenient Ways to Save with Payroll Savings

Payroll Savings

As autumn approaches, open enrollment of employee benefits becomes top of mind for many in the workforce. Employees know it's important to save for the future, but many of them don't know where to begin or are looking for a way to supplement their existing voluntary savings benefits. As Americans review their retirement and savings options, the U.S. Department of the Treasury encourages them to participate in TreasuryDirect Payroll Savings to help take control of their financial future.

TreasuryDirect Payroll Savings offers a unique way for people to save automatically each pay day and build toward retirement and other important goals, like owning a home or a college education. U.S. Treasury savings options, such as savings bonds, are affordable, safe and convenient:

  • Affordable. Employees don’t need a lot of money to get started. They can purchase savings bonds for as little as $25 or other Treasury securities starting at $100.
  • Safe. Treasury securities are trusted savings options that protect the original principal. In addition, employees can safely buy and manage their Treasury securities online through TreasuryDirect—the U.S. Treasury’s secure, online system.
  • Convenient. Employees can buy and manage Treasury securities online, 24/7. And with payroll direct deposit, saving money regularly becomes automatic.

To participate in TreasuryDirect Payroll Savings, people should follow these three simple steps:

  1. Open a free TreasuryDirect account at http://www.treasurydirect.gov.
  2. Contact human resources or payroll to authorize the direct deposit, identify the direct deposit amount for each pay day, and provide the TreasuryDirect routing number and their account number.
  3. Use TreasuryDirect to purchase savings bonds and other Treasury securities with the money direct deposited each pay day.

For more information, visit the Ready.Save.Grow. website http://www.treasurydirect.gov/readysavegrow. While you're there, watch the new video from Ready.Save.Grow. that explains Payroll Savings and how to participate. A step-by-step tip sheet on buying savings bonds and other Treasury securities through Payroll Savings is also available from Ready.Save.Grow.

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TreasuryDirect is a registered mark of the U.S. Department of the Treasury.

Ready.Save.Grow. is a service mark of the U.S. Department of the Treasury.

Media Contacts

Mckayla Braden
202-504-3502

Joyce Harris
202-504-3502

More News from the Treasury Department

Images

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Helpful Resources

Payroll Savings Tip Sheet

Video

Treasurer of the United States Rosie Rios talks about Ready.Save.Grow.