Updating Savings Bond Purchases

Bonds are not purchased for an employee until at least one sequence is defined. Defining Savings Bond Purchase Sequence

Run the Savings Bond Update (BN140) report to determine an employee's account balance for the purchase of savings bonds. It is recommended that you run Savings Bond Update (BN140) after each payroll is closed with Payroll Close (PR197). The payroll close looks at each bond plan participant's contribution deductions, and adds them to the participant's account balance. Once the balance is updated, Savings Bond Update (BN140) looks at the participant's balance and determines if there is enough money to purchase a bond.

The report is sorted by savings bond plan and employee. For each employee, the report shows the bonds purchased, the bond owner, the owner's address, and the owner's social number. If a co-owner and beneficiary have been assigned, their names, addresses, and social numbers also list. BN140 uses the employee's or dependent's current address from Employee (HR11.1) and Dependent (HR13.1) unless the address has been overridden in Savings Bond Beneficiaries (BN48.1).

To update savings bond purchase

  1. Access Savings Bond Update (BN140).
  2. Use the following guidelines to enter field values:
    Company

    Select a company. This is a required field.

    Plan

    Select a savings bond plan that you want on the report.

    If you leave all the Plan fields blank, all savings bond plans are updated.

    Date

    Type an As of date for the bond update. The date you type corresponds to the sequence in Savings Bond Purchase Sequence (BN48.2). The Benefits Administration application uses the latest sequence record as of this date.

    Update

    Select the action you want to perform. It is recommended that you select Report Only to review the report before selecting Update.

  3. Select the Add form function.
  4. Submit the report.

Related Reports and Inquiries

To Use
List the saving bonds an employee has purchased Savings Bond Balance Report (BN240)
List the sequence in which savings bonds are purchased for owners, co-owners, and beneficiaries of savings bonds Savings Bond Sequence Listing (BN248)
Display the savings bonds an employee has purchased Savings Bond History (BN60.1)