Benefits
U. S. Savings Bonds
U.S. Savings Bonds are available for purchase through payroll deduction, which allows you to withhold an amount that you determine from each paycheck.
Saving Bonds are backed by the full faith and credit of the U.S. government and offer these advantages:
a safe, convenient, and flexible way to satisfy long-term savings goals; and
financial security for you and your family.
Savings Bonds also offer many tax advantages:
Interest earned is exempt from state and local income taxes.
Federal taxes may be deferred until the bonds are redeemed or until they stop earning interest after 30 years.
Interest on Savings Bonds that is used for education may be tax-free, subject to certain terms and conditions.
On June 25, 2006, VCU contracted with National Bond and Trust Company (NBT) to process the purchase of Savings Bonds for participants. Founded in 1976, NBT works with more than 3,000 employer groups to issue over 400,000 Savings Bonds (worth over $30 million) every month.
To enroll in the Savings Bond program, contact NBT at 1-800-426-9314. For more information - or to make changes or cancel current bond deductions - visit NBT at http://www.nbtco.com/.
If you have questions about your payroll deduction, contact VCU Payroll Services.
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Mailing
address: Virginia Commonwealth University | Human Resources
- Benefits Administration |