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John E. Potter
POSTMASTER GENERAL, CEO
May 2002
Dear Fellow Postal Employee:
I am proud to announce the start of our 2002 U.S. Savings Bonds Campaign which
runs from May 13 through June 7,2002. The Savings Bonds Campaign is your chance
to learn about US Savings Bonds and to sign up for payroll deduction. For those
of you who already participate, you can take this opportunity to review your
financial plans, adjust your allotments, and add the Series I Bonds to your
deductions.
This year we are offering both the Series EE and Series I Bonds through payroll
deduction. The Series EE Savings Bond offers market-based interest rates. Payroll
deduction for the Series EE Bonds will begin within two pay periods.
The inflation-indexed I Bond earns an adjustable interest rate that keeps your
savings growing over and above inflation for up to 30 years. This means a rising
cost of living will not erode your purchasing power. Requests for payroll deduction
for the Series I Bonds will be taken during the Campaign period and held for
processing later this year.
Earnings from US Savings Bonds are exempt from local and state income taxes.
Federal income taxes are deferred until you choose to redeem them, or your US
Savings Bonds stop earning interest at 30 years. You may even be able to avoid
federal income taxes if you use your earnings to pay for qualified higher education
expenses. This could be a very important feature for those of you with young
families.
Enclosed are the following items: the US Savings Bonds Program Brochure, the
Series EE deduction card, the Series I deduction card, and a return envelope.
Simply complete the appropriate deduction card(s), and return the card(s) in
the prepaid envelope before June 7. Payroll deductions for Series EE Bonds will
begin within two pay periods. Requests for Series I Bonds will be held for processing
and payroll deductions will begin later this year. We will notify you before
the effective date of the Series I Bond deduction.
You can get more savings bond information on the Internet at www.savingsbonds.gov
or by calling 1-888-588-BOND. Now is the time to invest in your future and to
invest in America.
Sincerely,
John E. Potter
475 L'ENFANT PLAZA SW
WASHINGTON DC 20260-0010
www.usps.com
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