Payroll savings isn't a deduction. Think of it as money you pay yourself off the top, before you can spend it. Savings bonds diversify your retirement savings portfolio. Series EE and I Bonds provide safety and competitive, tax-deferred yields for the long or short term. You can get your hands on the money, with interest, in minutes at almost any bank or other financial institution once you've held a bond six months or more.
Payroll savings is easy to start.
You can begin with just a few dollars per payday. Just get an enrollment form from your employer and ask what amounts you can allot. You can also download an enrollment form here . Payroll savings is flexible. You can buy bonds for yourself or anyone you want, with a coowner or beneficiary if you wish.