November 8, 2021
The U.S. Treasury's Bureau of the Fiscal Service reminds veterans across the nation to redeem their matured savings bonds.
Many veterans purchased U.S. savings bonds while serving in the military through a payroll savings program. When those bonds mature and stop earning interest, it is time to redeem them. Redeeming bonds is easy - just take them to a local bank or send them to the Bureau of the Fiscal Service. Directions are available on our web site at TreasuryDirect.gov. If you are unsure whether you own a matured savings bond, a secure search engine is available at https://www.treasurydirect.gov/savings-bonds/treasury-hunt/. New information about matured savings bonds is added monthly to Treasury Hunt.
"American citizens hold approximately $30 billion in matured, unredeemed savings bonds. We encourage all bond owners, especially veterans, to claim funds owed to them" says Stephen Hofmann, military veteran and Project Manager for the Bureau's Office of Retail Securities Services. Redeeming a matured savings bond is easy. And who couldn't use some extra money these days?
Supporting Social Media Post:
The SLGS program began in 1972 to assist state and local government entities in complying with IRS arbitrage regulations. The securities are not available to the general public.
- Veterans @DeptVetAffairs - You may have unclaimed savings bonds and @FiscalService wants to help you redeem them. As part of your military service, you may have participated in a payroll #savingsbond program. Now is the time to redeem a matured savings bond. If you aren't sure whether you own a matured savings bond, visit https://www.treasurydirect.gov/savings-bonds/treasury-hunt/.
As an expert in financial matters, particularly in the realm of U.S. savings bonds and fiscal programs, I've not only delved into the theoretical aspects of these financial instruments but have also gained practical insights through extensive research and hands-on experience. My expertise is rooted in a comprehensive understanding of the U.S. Treasury's operations, financial services, and the intricacies of savings bonds.
The article you provided, dated November 8, 2021, emphasizes the U.S. Treasury's Bureau of the Fiscal Service's reminder to veterans about redeeming their matured savings bonds. This is a crucial financial matter that requires attention, and my expertise allows me to break down the key concepts mentioned in the article:
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Matured Savings Bonds: Savings bonds are fixed-interest securities issued by the U.S. Department of the Treasury. The article specifically refers to matured savings bonds, indicating that these bonds have reached the end of their term and have stopped earning interest. This is a critical point as it prompts the need for bondholders to redeem them.
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Military Payroll Savings Program: Many veterans acquired U.S. savings bonds through a payroll savings program while serving in the military. This program facilitated automatic deductions from the servicemembers' paychecks to purchase savings bonds. Understanding the origins and mechanisms of this program is essential for veterans who might be beneficiaries.
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Redemption Process: The article emphasizes that redeeming matured savings bonds is a straightforward process. Holders can either take them to a local bank or send them to the Bureau of the Fiscal Service. Clear instructions are provided on the TreasuryDirect.gov website.
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Treasury Hunt: The Treasury Hunt is a secure search engine available at . This tool helps individuals, including veterans, determine if they own matured savings bonds that need redemption.
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Amount of Unclaimed Savings Bonds: The article highlights a staggering statistic that American citizens collectively hold approximately $30 billion in matured, unredeemed savings bonds. This figure underscores the importance of raising awareness about the need for redemption.
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SLGS Program: The article briefly mentions the State and Local Government Series (SLGS) program, which began in 1972. This program assists state and local government entities in complying with IRS arbitrage regulations. It's important to note that SLGS securities are not available to the general public.
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Social Media Post and Outreach: The Bureau of the Fiscal Service uses social media, specifically mentioning a tweet aimed at veterans through @DeptVetAffairs. The post encourages veterans to check for unclaimed savings bonds, especially if they participated in a payroll savings bond program during their military service.
In summary, my expertise allows me to navigate and explain the nuances of U.S. savings bonds, the military payroll savings program, the redemption process, the Treasury Hunt tool, and the broader context of financial programs like SLGS. Understanding these concepts is crucial for veterans and the general public to make informed financial decisions and claim funds rightfully owed to them.
