Savings Bond Redistribution

Transcription

1 Savings Bond Redistribution (Revised February 2006) This function was designed to allow employees to purchase more than two U.S. Savings Bonds. It makes it possible to take the deduction data from one of the bond deduction segments on the Personnel Maintenance and split that deduction into however many bonds have been entered into this file to be passed onto the Federal Reserve Bank for the actual generation of the bonds. There are two very important restrictions that MUST be followed: (1) the new bonds generated must all be in the same denomination and (2) the bond deduction amount to be taken each month MUST be the purchase value of all the bonds to be purchased (i.e., there cannot be any accumulation of bond deductions for purchases in subsequent months). For example, an employee wants to purchase three $100 bonds each month. One method to accomplish this would be to set up the first bond deduction on the Personnel Maintenance bond deduction screen to purchase one $100 bond (deduct amount = $50) and set up the second bond deduction on the Personnel Maintenance bond deduction screen to purchase two $100 bonds (deduct amount = $100, with a bond cost = $50). This total bond purchase amount must be an even multiple of the number of bonds to be purchased, i.e., $200 for 2 $100 bonds. The payroll work station would then fill out and submit a Bond Redistribution Request form to the B/P/P Operations Center instructing Production Control to set up a bond conversion record that would split the total $200 bond deduction into two $100 bond purchases. The split forms may be made out to different bond owners, but the total number of bonds to be split must match the number of bonds desired (or to be purchased). In this example, we would need two forms, one for each bond to be purchased. This may appear to duplicate entry made on the screen, but both records must be in the Bond Conversion file. Again, the total of the bond deduction amount must be enough to cover the purchase value for all of the bonds entered into this facility (i.e., no partial bonds or left over balances are allowed using this facility). The Bond Redistribution Request form used to maintain the information associated with this procedure is included here. This information should be prepared by the payroll work station and forwarded to the B/P/P Operations Center for processing. WYLBUR: EXEC from $BPP0001.EXECLIB#BONDMENU The menu will be displayed. It has three options: A - Add a new employee B - Delete an employee C - Exit To change a record, it must be deleted and re-added. You must exit through the menu to complete updating the bond redistribution file.

2 The Federal Reserve - Kansas City has assigned a company ID number to each workstation. They are listed below. Workstation Company ID A C D E F G H I J L M P S T W X Workstations N and R purchase bonds manually through another Federal Reserve Bank Minneapolis, MN.

3 ADD Screen To add an employee, select option A on the menu. There are two add screens. Complete the first screen, press enter, complete the second screen, and press enter. Screen 1 WORKSTATION Valid workstation or Z to return to menu. EMPLOYEE S SOCIAL SECURITY Nine digits NUMBER BOND NUMBER 1 or 2 (The bond number on the Screen 110 to be split) Screen 2 OWNER S SOCIAL SECURITY NUMBER nine digits OWNER NAME 33 characters maximum in BPP name format (i.e. Last-Name First MI) ADDRESS: STREET 33 characters maximum CITY 20 characters maximum STATE 2-character state code ZIP 9 digits BENEFICIARY/CO-OWNER INDICATOR 1 character B = beneficiary C = co-owner Blank = none (default) BENEFICIARY/CO-OWNER NAME 28 characters maximum in BPP name format (i.e. Last-Name First-Name MI). Blank if Indicator = blank BOND DENOMINATION 1 digit ($ is assumed) 4 =100 5 =200 6 =500 7 =1,000 8 =5,000 9 =10,000 NUMBER TO ISSUE TO THIS OWNER 1,2,3,4,5,6,7,8, or 9 IS THIS THE LAST ADDITION Y = repeat screen 2 for this employee N = return blank screen 2 for additional data

4 DELETE Screen To delete an employee, select option B on the menu. Complete the screen and press enter. WORKSTATION Valid workstation or Z to return to menu. EMPLOYEE S SOCIAL SECURITY Nine digits NUMBER BOND NUMBER 1 or 2 (The bond number on the Screen 110 to be split) BOND DENOMINATION 1 digit ($ is assumed) 4 =100 5 =200 6 =500 7 =1,000 8 =5,000 9 =10,000 CURRENT BOND OWNER nine digits SOCIAL SECURITY NUMBER BPP Operations Center Page 4 of 5 bpphelp@tamu.edu Updated October 24, by Carl McKneely Bond Redistribution.doc

5 Bond Redistribution Request Circle one: Add Change Delete Workstation: Employee s Social Security number: Bond number to be changed: (1 or 2) Owner s Social Security number: Owner s name: Address Street: City: State: Zip Code: Beneficiary/Co-owner indicator: (B, C, or blank) Beneficiary/Co-owner name: Bond denomination: Number of bonds to issue to this owner: Please return to the B/P/P Operations Center Fax: bppprod@tamu.edu BPP Operations Center Page 5 of 5 bpphelp@tamu.edu Updated October 24, by Carl McKneely Bond Redistribution.doc