Administering U.S. Savings Bond Purchases

This chapter provides an overview of U.S. savings bond processing and implementation considerations, and discusses how to:

View available U.S. savings bonds.
Set up payroll deductions for bond purchases.
View the savings bond activity log.
Run the Savings Bond Purchase PSJob process (GPUS_BND), which produces U.S. Savings Bond output files.
Review delivered elements for bond processing.

Understanding U.S. Savings Bond Processing

Many organizations offer their employees the opportunity to purchase U.S. savings bonds through payroll deductions. Global Payroll for United States delivers the Savings Bond table complete with all Series EE and Series I savings bonds that payees can purchase through system payroll deductions.

With Global Payroll for United States, you can:

Enable payees to purchase multiple bonds, using a single general deduction.
Deduct the appropriate installments from paychecks.
Keep track of bond owners, beneficiaries, and purchase distribution information.
Track the accumulation of funds for each denomination, for each bond owner.
Automatically process the bond purchase amounts and goal balances for:
- Bond deductions.
- Reporting.
- Electronic file output in Federal Reserve System format.

U.S. Savings Bond Deduction Assignment and Processing Overview

To assign and process bond deductions:

Assign applicable bonds to a payee on the Savings Bond Assignment page, specifying the following:
- Bond number.
- Type of bonds to purchase.
- Effective date and end date of the bond.
- Amount to deduct in each bond purchase instance.
- Goal amount.
- Bond owner and other registrant information.
Then, when you run the payroll calculation process:
- The system processes each of a payees bond assignments, and calculates the deduction amount.
- The system processes a second element - BOND PURCH - when there are enough deducted funds collected to purchase a bond, or multiple bonds.
- If sufficient funds are present, the system processes a writable array that sets the bond purchase status to Calculated, and updates the Savings Bond Activity Log USA component (GPUS_BND_LOG).
  
  Note. The Savings Bond Activity Log is updated after the payroll is finalized.

After the payroll process is complete, you run the Savings Bond Purchase process. This process:

Updates the Savings Bond Activity Log USA component with a purchase status of Processed.

Generates a Bond Purchase File in one of two layouts: Standard file format (for a Bond Purchase output) or Federal Reserve System file format (for a Federal reserve output). Each transaction contains the fields shown in the following table:

Field	Number of Positions
Denomination	5
No. of Bonds Purchased	3
Purchase Date	6 (YYMMDD)
Owner Name	30
Owner SSN	9
Other Registrant Name	30 (optional field)
Other Registrant SSN	9
Other Registrant Type	1 (optional field)

You can change the format to accommodate your particular interface requirements.

Note. You should always use the Federal Reserve format. This will generate the report and files and can only be run once.

Generates a Bond Purchase Report (GPUSBND1).

Enables you to view a record of every bond transaction, pay period by pay period, on the Savings Bond Activity Log USA component.

Implementation Considerations

This section discusses:

Segmentation.
Retroactivity.
Remaining balances.

Segmentation

If period segmentation exists, the system applies the deduction for savings bonds to the first segment using the generation control element GP APPLY 1ST SEG.

Retroactivity

The bond deduction is defined with the Retro Recalculation Option set to Do Not Recalculate.

Remaining Balances

At the conclusion of a bond assignment period (end date specified on the Savings Bond Assignment page) any unused funds will remain in the delivered Bond accumulator. These funds can be:

Left in the accumulator and used towards future bond deductions.
Manually refunded to the payee.

See Also

Defining Segmentation

Defining Retroactive Processing

Viewing Delivered Elements

Global Payroll for United States delivers and maintains the following bond elements:

Note. In this table, DD stands for deduction, and AC stands for accumulator.

Element Type	Element Name	Used By	Where Used
Deduction	BOND	Payroll Process	This element is used to deduct a specified amount from each payee paycheck.
	BOND PURCH	Bond Purchase Process	This element is used to purchase bonds.
Variable	BND VR ID This variable is a user field on the bond deduction and a user key on the bond accumulators. It is one of two variables that makes each bond unique (see also BND VR NUM).	DD/BOND DD/BONDPURCH AC/BOND PURCH AC/BOND AMOUNT AC/BOND BALANCE AC/BOND PURCHASED AC/BOND YTDA AC/BOND PURCH PTDA AC/BOND PURCH PTDU AC/BOND PURCH YTDA	Savings Bond Assignment USA page. You define the value of the bond ID when you assign bond deductions to payees on the Savings Bond Assignment USA page.
	BND VR NUM This variable is a user field on the bond deduction and a user key on the bond accumulators. It is one of two variables that makes each bond unique (see also BND VR ID).	DD/BOND DD/BONDPURCH AC/BOND PURCH AC/BOND AMOUNT AC/BOND BALANCE AC/BOND PURCHASED AC/BOND YTDA AC/BOND PURCH PTDA AC/BOND PURCH PTDU AC/BOND PURCH YTDA	Savings Bond Assignment USA page. You define the value of the bond number when you assign bond deductions to payees on the Savings Bond Assignment USA page.
	BND VR GOAL This variable stores the goal amount for each bond deduction.		Savings Bond Assignment USA page. You define the goal amount when you assign bond deductions to payees on the Savings Bond Assignment USA page.
	BND VR PRICE	BOND PURCH-Rate component	This variable contains the purchase price of a bond and is retrieved by the array BND AR PURCH AMT.
Formula	BND FM GOAL AMT	BOND	This formula performs the goal limit function, as well as the termination processing instructions.
	BND FM PURCHASE	BOND PURCH-Unit Component	Calculates the number of bonds to purchase.
	BND FM SET DRIVER	BOND PURCH	Pre-Process Formula. Used to determine if the element should be processed.
	BND FM INIT DRIVER	BND AR DRIVER KEY
Accumulators	BOND AMOUNT	BND FM GOAL AMT	This accumulator contains the amount deducted to date for each bond deduction. This accumulator keeps a running total for the deduction and compares it to the Goal Amount (BND VR GOAL). Members include: BOND/Adds to
	BOND BALANCE	BND FM PURCHASE	Members include: BOND/Adds to BOND PURCH/Subtracts from
	BOND PURCHASED		This accumulator keeps a running total of the value of the bonds that have been purchased. Similar to BOND PURCH YTDA which keeps a total by calendar year. Members include: BOND PURCH/Adds to
	BOND YTDA		Contains the year to date (YTD) amount for each bond.
	BOND PURCH PTDU		Contains the period to date (PTD) number of bonds purchased (by way of the unit component).
	BOND PURCH PTDA		Contains the PTD value of the bonds to be purchased in the current period.
	BOND PURCH YTDA		Contains the YTD value of the bonds that have been purchased for the year.
Generation Control	GP APPLY 1ST SEG	BOND BOND PURCH	This generation control is used to control when the BOND deduction is processed.

Note. PeopleSoft delivers a query that you can run to view the names of all delivered elements designed for the United States. Instructions for running the query are provided in the PeopleSoft Enterprise Global Payroll 8.9 PeopleBook.

See Also

Viewing the Delivered Elements

Viewing Delivered U.S. Savings Bonds

To view delivered U.S. savings bonds, use the Savings Bond USA (GPUS_BND_TBL) component.

This section discusses how to view information for the U.S. bonds that are available for purchase.

Page Used to View U.S. Savings Bonds

Page Name	Object Name	Navigation	Usage
Savings Bond	GPUS_BND_TBL	Set Up HRMS, Product Related, Global Payroll & Absence Mgmt, Allowances/Other Benefits, Savings Bond USA, Savings Bond	View bond deduction criteria for U.S. savings bonds. PeopleSoft delivers the U.S. Savings Bond table complete with all savings bond types that employees can purchase through a payroll deduction. The system uses this table to edit employee bond specifications and to process bonds when it finalizes a payroll. Note. PeopleSoft delivers all information for Series EE and Series I U.S. Bonds. You do not have to enter information on this page.

Page Name

Object Name

Navigation

Usage

Savings Bond

GPUS_BND_TBL

Set Up HRMS, Product Related, Global Payroll & Absence Mgmt, Allowances/Other Benefits, Savings Bond USA, Savings Bond

View bond deduction criteria for U.S. savings bonds. PeopleSoft delivers the U.S. Savings Bond table complete with all savings bond types that employees can purchase through a payroll deduction. The system uses this table to edit employee bond specifications and to process bonds when it finalizes a payroll.

Note. PeopleSoft delivers all information for Series EE and Series I U.S. Bonds. You do not have to enter information on this page.

Viewing Bond Information

Access the Savings Bond page.

Purchase Amount

The cost of the bond at origination. The system uses this value to determine if the funds in a payee's bond deduction accumulator is equal to or greater than this amount prior to purchasing the bond.

Currency Code

The purchase amount and redemption value currency.

Redemption Value

The redemption value of the bond at maturation.

This field is for information only, and is not used in bond processing.

Assigning Savings Bond Deductions

This section discusses how to set up payee deductions for bond purchases.

See Also

Configuring Element Overrides

Page Used to Assign Savings Bond Deductions

Page Name	Object Name	Navigation	Usage
Savings Bond Assignment USA	GPUS_BND_DATA	Global Payroll & Absence Mgmt, Payee Data, Assign Earnings and Deductions, Savings Bond Assignment USA, Savings Bond Assignment USA	Enter a payee's instructions for U.S. Savings Bond deductions and purchases. Note. When bond information is saved on this page, a component interface automatically populates the Element Assignment by Payee and Payee Assignment by Element components with the bond data and supporting element values (Bond Number and Bond ID). Use this page and not the Element Assignment by Payee or Payee Assignment by Element components to changes and update bond assignments.

Page Name

Object Name

Navigation

Usage

Savings Bond Assignment USA

GPUS_BND_DATA

Global Payroll & Absence Mgmt, Payee Data, Assign Earnings and Deductions, Savings Bond Assignment USA, Savings Bond Assignment USA

Enter a payee's instructions for U.S. Savings Bond deductions and purchases.

Note. When bond information is saved on this page, a component interface automatically populates the Element Assignment by Payee and Payee Assignment by Element components with the bond data and supporting element values (Bond Number and Bond ID). Use this page and not the Element Assignment by Payee or Payee Assignment by Element components to changes and update bond assignments.

Assigning Bond Deductions

Access the Savings Bond Assignment USA page.

You can assign multiple bond deductions to a payee in a single period. The combination of bond number and savings bond ID is what makes each bond assignment unique.

Bond Number	Associate a unique number with each bond assignment.
Savings Bond ID	Enter the type of bond the payee wants to purchase. Global Payroll for United States delivers bond IDs and related information, which you can view using the Savings Bond page. See Viewing Delivered U.S. Savings Bonds.
Begin Date and End Date	Enter the start date and the end date for payroll deductions. Leave the end date field blank in order for the deduction to continue indefinitely.
Process Order	Use this field to control the order in which bonds are processed when there are multiple bond assignments. The lower the number in this field, the higher the priority. Note. The numbers in this field should be unique.
Bond Amount	Enter the amount that the payee wants deducted in each pay period for the specified bond. An accumulator keeps a record of the amount deducted, and when the balance of funds reaches the bond purchase amount, the bond is purchased. Unused funds remain in the accumulator to be used for future purchases.
Goal Amount	To stop deductions from being taken for bond purchases after the sum of deductions for a particular bond assignment reaches a certain amount, enter that amount here. The system will deduct up to, but not in excess of this amount.
Currency Code	Enter the currency of the bond assignment.

Bond Owner

Specify a bond owner type:

Dependent: Select the dependent’s ID if the payee is buying the bond for a dependent or beneficiary. This person must be on the payee’s dependent/beneficiary list.
Employee: Select if the payee is the registered owner of the savings bond.

Other Registrant

Specify a beneficiary or co-owner registrant type for the bond:

Co-Owner: Select if there are two owners of the bond. Additional fields become available for entering the co-owner information.
Beneficiary: Select if there is a beneficiary for the bond. Additional fields become available for entering the beneficiary information.
None: Select if the bond owner is the only name on the savings bond.

Delivery Address

Same Address as Employee	Select to have the bond certificate mailed to the employee’s address. Clear to enter an alternative address through the Edit Address link.
Address Type	If the Bond Owner Type field is set to Employee, and the Same Address as Employee check box is selected, you can select an address from the list of available employee address types.

Other Overrides

Use the fields in this group box to override values associated with the Bond deduction element on the Deduction Name page.

Defining Element Names

Viewing the Bond Activity Log

This section provides an overview of the Savings Bond Activity Log USA component (GPUS_BND_LOG), and discusses how to view the information in the log.

Page Used to View the Bond Activity Log

Page Name	Object Name	Navigation	Usage
Savings Bond Activity Log USA	GPUS_BND_LOG	Global Payroll & Absence Mgmt, Absence and Payroll Processing, Review Absence/Payroll Info, Savings Bond Activity Log USA, Savings Bond Activity Log USA	Review a history of bond purchase details for a payee, including bond purchase status, bond balances, amount collected and dispersed, and owner and registrant information.

Viewing Savings Bond Activity

Access the Savings Bond Activity Log USA page.

The Savings Bond Activity Log USA page displays bond activity for a payee. The log shows how much money has been deducted toward bond purchases, how many bonds that money will buy, and the balance of deductions not yet applied toward purchases. The system updates the data in the log when you run the Payroll Calculation process and the Savings Bond Purchase process.

Bond Information

The Bond Information group box displays a row for each type of bond that the payee is set up to purchase. For each savings bond ID, the page displays the bond number and the bond balance. The bond balance represents the amount of money deducted that the system has not yet applied toward a bond purchase.

Purchase Details Tab

This tab displays a line item for each pay period.

Purchase Status	Displays the status of each bond purchase deductions. Values are: Not Ready to Purchase: Assigned to deductions that do not yet equal the purchase price of the bond. The Payroll Calculation process assigns this status. Ready to Purchase: Assigned to deductions that total or equal the purchase price of the bond. The Payroll Calculation process assigns this status. Purchased: Assigned to deductions included as part of a bond purchase. The Savings Bond Purchase process assigns this status.
Amount Collected	Displays the deduction amount for the pay period.
Purchase Amount	Displays the purchase price of the bond.
Number of Bonds	Displays the number of bonds purchased.
Payment Date	Displays the pay period of each deduction.

Period Details Tab

This tab lists pay period information including the calendar ID, the segment begin and end dates, and the pay group.

Owner Details Tab

This tab lists details about the bond owner and any associated beneficiary or co-owner.

Producing the U.S. Savings Bond Output File

This section provides an overview of the Savings Bond Purchase process and discusses how to generate a magnetic media output file for the U.S. Treasury Office.

Understanding the Savings Bond Purchase Process

The Savings Bond Purchase process identifies all payees with funded bonds (set to Calculated by the payroll process) and updates the purchase status for each bond to Processed.

In addition, the process can be run with one of two bond output layouts:

Bond Purchase
Federal Reserve

If you select the Bond Purchase option and run the process, the system:

Updates Calculated payee bond purchase status values to Processed.
Creates the Bond Purchase Report (GPUSBND1).
Creates a standard flat file output.

If you select the Federal Reserve option and run the process, the system:

Updates Calculated payee bond purchase status values to Processed.
Creates the Bond Purchase Report (GPUSBND1).
Creates a magnetic media output flat file in Federal Reserve System format.

Page Used to Run the Savings Bond Purchase Process

Page Name	Object Name	Navigation	Usage
Savings Bond Report and Interface	GPUS_BND_RPT	Global Payroll & Absence Mgmt, Absence and Payroll Processing, Reports, Bonds Report and Interface USA	Run the Savings Bond Purchase process to update purchase status values, generate reports, and create flat files for internal and external use.

Running the Savings Bond Purchase Process and Generating Reports

Access the Savings Bond Report and Interface page.

Language

Select the language in which you want to publish the output file and report.

Calendar Group ID

Enter a calendar group ID to identify the group of payees that you want to process.

Pay Entity

Enter a pay entity to further specify your run parameters.

Begin Date and End Date

Enter a date range to identify bonds set to Calculated by the Global Payroll process during the time you specify.

If you leave this field blank, the system processes and reports all funded bonds.

Bond Output Layout

Select one of the following bond output layouts:

Bond Purchase: Creates the Bond Purchase Report (GPUSBND1) and a standard flat file.

Federal Reserve: Creates the Bond Purchase Report (GPUSBND1) and a magnetic media output file in Federal Reserve System format.

Language	Select the language in which you want to publish the output file and report.
Calendar Group ID	Enter a calendar group ID to identify the group of payees that you want to process.
Pay Entity	Enter a pay entity to further specify your run parameters.
Begin Date and End Date	Enter a date range to identify bonds set to Calculated by the Global Payroll process during the time you specify. If you leave this field blank, the system processes and reports all funded bonds.
Bond Output Layout	Select one of the following bond output layouts: Bond Purchase: Creates the Bond Purchase Report (GPUSBND1) and a standard flat file. Federal Reserve: Creates the Bond Purchase Report (GPUSBND1) and a magnetic media output file in Federal Reserve System format.