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.
Run the Bond Purchase Calculation process.
View the savings bond activity log.
Run the Savings Bond Purchase process.
Review delivered elements for 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 general deductions.
Deduct the appropriate installments during the payroll process.
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.
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 payee's bond assignments, and calculates the deduction amount.
After the payroll process is finalized, you run the Bond Purchase Calculation Application Engine process (GPUS_BNDCALC). This process:
Updates the savings bond activity log with bond deductions that occurred during the payroll process.
Determines whether a payee's bond deductions are sufficient to purchase the assigned savings bond.
After running the Bond Purchase Calculation process, you run the Savings Bond Purchase PSJob process (GPUS_BND). This process:
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. It is recommended that you use the Federal Reserve format because it is easier to retrieve the output when running the process using this format.
Generates a Bond Purchase Report (GPUSBND1).
Note. The process generates both the report and the flat files and can only be run once.
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 Retroactive Processing
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 during the payroll process. |
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 AC/BOND AMOUNT AC/BOND BALANCE AC/BOND 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 AC/BOND AMOUNT AC/BOND BALANCE AC/BOND 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 BOND BAL |
BND AR BOND BAL BND FM BOND BAL |
This variable is used to store the bond balance. |
|
Array |
BND AR DRIVER KEY |
Payroll Process |
The system uses this array to retrieve bond numbers and bond IDs. |
BND AR PURCH AMT |
Bond Purchase Process |
The system uses this array to retrieve bond purchase amounts. |
|
BND AR BOND BAL |
FM/BND FM GET BNDBAL |
The system uses this array to retrieve savings bond balances. |
|
Formula |
BND FM GOAL AMT |
BOND |
This formula performs the goal limit function, as well as the termination processing instructions. |
BND FM BOND BAL |
AR/BND AR BOND BAL |
This formula updates the BOND BALANCE accumulator with the bond balance retrieved via the BND AR BOND BAL array. |
|
BND FM GET BNDBAL |
Payroll Process |
The system uses this formula to execute the BND AR BOND BAL array if the employee being processed has bonds. |
|
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 |
Members include: BOND/Adds to |
||
BOND YTDA |
Contains the year to date (YTD) amount for each bond. |
||
Generation Control |
GP APPLY 1ST SEG |
BOND |
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 9.0 PeopleBook.
See Also
Understanding How to View Delivered Elements
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 Name |
Object Name |
Navigation |
Usage |
GPUS_BND_TBL |
Set Up HRMS, Product Related, Global Payroll & Absence Mgmt, Allowances/Other Benefits, Savings Bond USA, Savings Bond USA |
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. |
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. |
This section discusses how to set up payee deductions for bond purchases.
See Also
Page Name |
Object Name |
Navigation |
Usage |
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. |
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. |
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.
See Also
Overriding Component Values, Generation Control, Frequency, Arrears, and Variables for a Payee
This section discusses how to calculate bond purchases.
Page Name |
Object Name |
Navigation |
Usage |
Bond Purchase Calculation USA |
GPUS_BND_CALC |
Global Payroll & Absence Management, Absence and Payroll Processing, Reports, Bond Purchase Calculation USA |
Run the Bond Purchase Calculation process. |
Access the Bond Purchase Calculation USA page.
Calendar Group ID |
Select the calendar group for which you are running the process. Note. Only finalized calendar groups are available to select. |
The Bond Purchase Calculation process (GPUS_BNDCALC) updates the bond activity log with bond deductions that the system processed for the selected calendar group. In addition, it determines whether the deductions for a given payee are sufficient to fund the bonds assigned to that payee.
This section discusses how to view the information in the Savings Bond Activity Log USA component (GPUS_BND_LOG).
Page Name |
Object Name |
Navigation |
Usage |
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. |
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, and how much of that money has been applied to the purchase of the assigned bonds. The system updates the data in the log when you run either the Bond Purchase Calculation process and the Savings Bond Purchase process.
Savings Bond ID |
Displays the type of bond assigned to the payee. |
Bond Number |
Displays the unique number associated with each bond assigned to the payee. |
Bond Balance |
Displays the dollar amount deducted during the payroll process, but not yet applied to a bond purchase. |
From Date and To Date |
Enter the date range for which you want to display the payee's bond activity. Note. The To Date field is required. The system populates this field with the system date by default. |
Create Activity Log |
Click to display an activity log for the selected date range. |
Purchase Details Tab
This tab displays a line item for each transaction.
Processed |
Indicates that the system has processed the associated transaction. The system selects this check box for Deduction transactions when you run the Bond Purchase Calculation process. The system selects this check box for Purchase transactions when you run the Savings Bond Purchase process. |
Transaction |
Indicates the type of transaction. Deduction: Indicates that the system deducted the associated dollar amount during the payroll process. The Bond Purchase Calculation process updates the bond activity log with bond deductions that the system processed during the payroll process. Purchase: Indicates the application of deducted funds toward the purchase of the associated savings bond. The Bond Purchase Calculation process determines whether the monetary amount of the deductions is sufficient to fund the bonds assigned to the payee. If it is, the process updates the activity log with a Purchase transaction. The system creates the transaction with the Processed check box cleared, indicating that the actual purchase of the bond has not yet occurred. The actual purchase is processed when you run the Savings Bond Purchase process. |
Amount Collected |
Displays the dollar amount of each deduction. |
Purchase Amount |
Displays the dollar amount of each bond purchase. |
Number of Bonds |
Displays the number of bonds purchased. |
Payment Date |
Displays the payment date for which the system processed each deduction and purchase. |
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.
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.
The Savings Bond Purchase process identifies all payees with funded bonds (unprocessed purchase transactions) and processes the purchase of those bonds.
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:
Selects the Processed check box for any unprocessed purchase transactions.
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:
Selects the Processed check box for any unprocessed purchase transactions.
Creates the Bond Purchase Report (GPUSBND1).
Creates a magnetic media output flat file in Federal Reserve System format.
Page Name |
Object Name |
Navigation |
Usage |
GPUS_BND_RPT |
Global Payroll & Absence Mgmt, Absence and Payroll Processing, Reports, Bonds Report and Interface USA, Savings Bond Report and Interface USA |
Run the Savings Bond Purchase process to update purchase transactions, generate reports, and create flat files for internal and external use. |
Access the Savings Bond Report and Interface USA page.
Language |
Select the language in which you want to publish the output file and report. |
Bond Output Layout |
Select a bond output layout. Values are: 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. |
Pay Entity |
Enter a value to run the process for a specific pay entity. You can use this field when running the process for a specific calendar group or when running the process for a date range. This field is not required. |
Calendar Group ID |
Enter a calendar group ID to run the process for a specific calendar group. If you specify a value in the Pay Entity field, only calendars associated with that pay entity are available for you to select. If you do not specify a date range in the Begin Date and End Date fields, the Calendar Group ID field is required. You can also use this field in combination with the Begin Date and End Date fields. |
Begin Date and End Date |
Specify a date range for the process. The system processes all unprocessed purchase transactions within the specified date range, filtered by any pay entity or calendar group information that you specify. If you do not enter a value in the Calendar Group ID field, the Begin Date and End Date fields are required. |