What are U.S. Savings Bonds?
U.S. Savings Bonds are a great way to save money for you and your family’s future. Savings Bonds earn competitive rates of return compared to other forms of saving. Interest on Savings Bonds accrues monthly and compounds semiannually, and they are also backed by the full faith and credit of the United States
How It Works for L.A. County Employees
Los Angeles County had a U.S. Savings Bonds Program that allowed employees to purchase savings bonds via payroll deduction or a one-time purchase. This Program was discontinued in 2011 when the U.S. Treasury transitioned their savings bonds program online and discontinued the production of paper savings bonds.
While you can still cash in your paper savings bonds at most banks, all other U.S. Savings Bonds transactions are done entirely online via the U.S Treasury Direct website. Employees are encouraged to visit the U.S. Treasury’s website to explore the current options available for purchasing savings bonds.
For additional questions on the U.S. Savings Bonds Program, please email Workplace Programs at workplaceprograms@hr.lacounty.gov.
