Changes to the Savings Bond Program
OPM recently sent retirees a letter announcing the phasing out of paper savings bonds through traditional savings plans. If you have savings bonds withheld, they will be stopped automatically in October, the last month you will receive a bond. You can continue to purchase savings bonds through the Treasury Direct online program or you can still purchase paper savings bonds through your local bank.
The benefits of Treasury Direct, www.treasurydirect.gov, is that you can sign up, manage your account, purchase and redeem savings bonds online plus print out detailed account holdings. Individuals can also purchase U.S. Treasury Inflation Protected (TIPs), and Treasury Bills, Notes and Bonds for your account and the money is easily transferred from and to your designated local bank savings or checking account. I always liked paper bonds because you can keep them in your safety deposit box and cash them in at any bank. It’s like having cash instead of just credit cards.
This does create a double edge sword so to speak. Our society is totally dependent on the Internet today, we can’t do anything without it; from pumping gas, everyday purchases, to ATM withdrawals. It would seem to even the most casual observer that we are becoming too dependent on this one venue. That being said, the Treasury Direct program is very easy to use and you can purchase Treasury Inflation Protected bonds called (TIPs), a good substitute for I Bonds, without any annual dollar limits. Find out more about other financial considerations for federal employees and retirees.
Social Security Adjustment – Additional INCREASES for Active Military Service
Don, a retired federal manager, former associate and friend, emailed me earlier this month about this credit. If you served on Active Duty your Social Security may be increased. For example, I served on active duty from 1969 through 1972. According to Social Security, go to http://www.ssa.gov/retire2/military.htm to check this out for yourself, I will be credited with $300 in additional earnings for each calendar quarter in which I received active duty basic pay. Don said that this isn’t automatic and that he was advised that you must take your DD-214 form with you when you sign up for Social Security to receive this credit. This isn’t just for federal retirees; it’s for anyone who served on Active duty. This does make sense considering that when I was on active duty my starting pay was $97 a month, YES just $97 a month and when I was discharged In 1972 I was making $270 a month! If you lost or misplaced your DD-214 form you can get a replacement from the National Archives. Visit our Social Security page for more details.
Additional Retiree Job Options
More companies are trying to attract retired federal employees and those close to retirement due to their special skills, knowledge and abilities. We continue to receive job postings from companies desperately seeking to fill critical jobs with qualified federal workers and retirees. Visit our jobs board for complete listings. You will find new listings for:
- Instructor – Federal Acquisitions
- Radar/Automation (Retired FAA Tech)
- Navaids/Comm (Retired FAA Tech)
- Contracting Specialists
- Retirement & Benefits Specialist
Learn more about your benefits, employment, and financial planning issues on our site and visit our Blog frequently at https://fedretire.net to read all forum articles.
Visit our other informative sites
- http://federaljobs.net (Federal Career & Job Center)
- http://federalretirement.net (FREE Retirement Planning Guide)
- http://federalretirement.net/jobs.htm (Retiree Job Opportunities)
- https://fedretire.net (Retiree BLOG)
- http://fedcareer.info (Career Development Center)
- http://postalwork.net (Postal Career Center)
- http://searchfedjobs.com (Job Search – All Sectors)
- http://ehsjobs.org (Environmental Health & Safety Job Center)
- http://stolenplates.com (What to do if this happens to you)
- Educational Opportunities (Find educational opportunities in your area)
The information provided may not cover all aspect of unique or special circumstances, federal regulations, and financial information is subject to change. To ensure the accuracy of this information, contact your benefits coordinator and ask them to review your official personnel file and circumstances concerning this issue. Retirees can contact the OPM retirement center. Our articles are not intended nor should they be considered investment advice. Our reply is time sensitive. Over time, various dynamic economic factors relied upon as a basis for this article may change.”
Last 5 posts by Dennis Damp
- Early Retirement Guide for Federal Employees - June 13th, 2026
- Military Buyback Guide: How to Maximize Your Federal Pension - June 6th, 2026
- OPM Retirement Backlog: What Federal Retirees Should Expect - May 30th, 2026
- Retirement Cost Analysis: How to Prepare for Your Future - May 27th, 2026
- How to Increase Your Retirement Income Before You Retire - May 26th, 2026
Dennis V. Damp is an author, retired federal manager, business owner, career counselor and veteran. Damp is the author of 28 books, a recognized benefits expert, and a retired federal manager with 35 years’ service. Dennis has been a guest on hundreds of radio talk shows, CNN’s YOUR MONEY and the Lou Dobbs Cable TV shows, lectured at universities and colleges, produced Internet web sites and training videos, and has written hundreds of articles for national magazines and newspapers. His books have been featured in the Wall Street Journal, Washington Post, New York Times and U.S. News & World Report.
Dennis joined the Air Force in 1968 and spent over three years on active duty and an additional seven years with the Air National Guard. He was hired by the Department of Defense (DOD) after leaving active duty and transferred to the Federal Aviation Administration (FAA) in 1975. He spent the remainder of his career in various positions with the FAA. His last position was technical operations manager at the Pittsburgh International Airport’s air traffic control tower.