A client told me today that he wants his employees (which there are probably more than 250) to be able to elect a deduction of $50 out of their paycheck to purchase a savings bond. They are paid once a month. After the deduction, he will forward the money on to us. As far as purchasing the bonds goes, he only wants them to have to sign something once. This would be like purchasing a bond each month and only signing a form one time. Is this possible? Any thoughts?

This would be a labor intensive process for your institution. The U.S Treasury offers a program to do this directly with the employer through Treasury Direct. More information is available at this website.

http://www.treasurydirect.gov/instit/savbond/payroll/payroll_empbroch.pdf