A number of excellent savings media are available through the University, including U. S. Savings Bonds, which may be purchased by all University employees through payroll deduction.
Savings bonds are a means to set money aside for the future.
Sign up for the payroll savings plan and purchase U.S. Savings Bonds automatically. Bonds are backed by the full faith and credit of the United States, and the interest they earn is exempt from state and local income taxes. In addition, there are special tax benefits available for investors who use Savings Bonds to save for their children's education. If you qualify, you can exclude all or part of the interest earned by your Bonds from your federal income taxes when you redeem them to pay for college or technical school tuition and fees. Bonds are purchased for you and sent to your home address when your payroll deduction equals the purchase price of the bond you choose.