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<div class=Section1>
<p class=MsoNormal><font size=2 color=black face=Calibri><span
style='font-size:11.0pt;color:black'>As we have previously reported, the US
Treasury is ending their sales of paper savings bonds through employer payroll
savings programs. They are converting to electronic transactions through their
“Treasury Direct” website. November paid December will
be the last time that we process savings bond transactions through OSPA.
Here are some updates on this project. <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=black face=Calibri><span
style='font-size:11.0pt;color:black'><o:p> </o:p></span></font></p>
<ol style='margin-top:0in' start=1 type=1>
<li class=MsoNormal style='color:black;mso-list:l2 level1 lfo3'><font size=2
color=black face=Calibri><span style='font-size:11.0pt'>Participant
notification. On September 3, 2010 we will mail letters to the home
addresses of each current savings bond participant. The letter will
inform them of the termination of the savings bond program and provide
them with information about the US Treasury website “Treasury
Direct” which they can use to purchase savings bonds and other
securities. A copy of that letter is attached. There is a link
in the letter to the OSPS home page where there is more information about
the changes and links to Treasury Direct with resources that we believe
will be useful to participants. We will provide each agency
with a list of employees to whom this letter was sent. <o:p></o:p></span></font></li>
</ol>
<p class=MsoNormal><font size=2 color=black face=Calibri><span
style='font-size:11.0pt;color:black'><o:p> </o:p></span></font></p>
<ol style='margin-top:0in' start=2 type=1>
<li class=MsoNormal style='color:black;mso-list:l2 level1 lfo3'><font size=2
color=black face=Calibri><span style='font-size:11.0pt'>Any state employee
who enrolls for an account with Treasury Direct can set up a direct
deposit transaction to send funds to the US Treasury to purchase their
savings bonds. They need the account information first – then
they can arrange the direct deposit through their agency payroll
coordinator. <o:p></o:p></span></font></li>
</ol>
<p class=MsoNormal><font size=2 color=black face=Calibri><span
style='font-size:11.0pt;color:black'><o:p> </o:p></span></font></p>
<ol style='margin-top:0in' start=3 type=1>
<li class=MsoNormal style='color:black;mso-list:l2 level1 lfo3'><font size=2
color=black face=Calibri><span style='font-size:11.0pt'>Effective <b><span
style='font-weight:bold'>September 1</span></b>, OSPA will not permit a
new savings bond transaction to be set up using deduction code SVNN.
You will be able to change or delete existing transactions, but not set up
new transactions. <b><span style='font-weight:bold'><o:p></o:p></span></b></span></font></li>
</ol>
<p class=MsoNormal><b><font size=2 color=black face=Calibri><span
style='font-size:11.0pt;color:black;font-weight:bold'><o:p> </o:p></span></font></b></p>
<p class=MsoNormal><b><font size=2 color=black face=Calibri><span
style='font-size:11.0pt;color:black;font-weight:bold'>Useful Resources<o:p></o:p></span></font></b></p>
<p class=MsoNormal><b><font size=2 color=black face=Calibri><span
style='font-size:11.0pt;color:black;font-weight:bold'><o:p> </o:p></span></font></b></p>
<p class=MsoNormal><b><font size=2 color=black face=Calibri><span
style='font-size:11.0pt;color:black;font-weight:bold'>OSPS Home Page: <a
href="http://oregon.gov/DAS/SCD/OSPS/index.shtml">http://oregon.gov/DAS/SCD/OSPS/index.shtml</a><o:p></o:p></span></font></b></p>
<p class=MsoNormal><b><font size=2 color=black face=Calibri><span
style='font-size:11.0pt;color:black;font-weight:bold'><o:p> </o:p></span></font></b></p>
<p class=MsoNormal><b><font size=2 color=black face=Calibri><span
style='font-size:11.0pt;color:black;font-weight:bold'>Treasury Direct: <a
href="http://www.treasurydirect.gov/">http://www.treasurydirect.gov/</a><o:p></o:p></span></font></b></p>
<p class=MsoNormal><b><font size=2 color=black face=Calibri><span
style='font-size:11.0pt;color:black;font-weight:bold'><o:p> </o:p></span></font></b></p>
<p class=MsoNormal><b><font size=2 color=black face=Calibri><span
style='font-size:11.0pt;color:black;font-weight:bold'><o:p> </o:p></span></font></b></p>
<p class=MsoNormal><font size=2 color=black face=Calibri><span
style='font-size:11.0pt;color:black'><o:p> </o:p></span></font></p>
<p class=MsoNormal><strong><b><font size=2 color=gray face=Calibri><span
style='font-size:11.0pt;font-family:Calibri;color:gray'>Sharon McKeehan,
Manager<o:p></o:p></span></font></b></strong></p>
<p class=MsoNormal><st1:State w:st="on"><st1:place w:st="on"><strong><b><font
size=2 color=gray face=Calibri><span style='font-size:11.0pt;font-family:
Calibri;color:gray'>Oregon</span></font></b></strong></st1:place></st1:State><strong><b><font
color=gray face=Calibri><span style='font-family:Calibri;color:gray'> Statewide
Payroll Services<o:p></o:p></span></font></b></strong></p>
<p class=MsoNormal><font size=2 color=gray face=Calibri><span style='font-size:
11.0pt;color:gray'>DAS/State Controller's Division</span></font><font
color=black face="Times New Roman"><span style='font-family:"Times New Roman";
color:black'><o:p></o:p></span></font></p>
<p class=MsoNormal><st1:Street w:st="on"><st1:address w:st="on"><font size=2
color=gray face=Calibri><span style='font-size:11.0pt;color:gray'>155 Cottage
Street NE</span></font></st1:address></st1:Street><font color=gray><span
style='color:gray'>, U-50<o:p></o:p></span></font></p>
<p class=MsoNormal><st1:place w:st="on"><st1:City w:st="on"><font size=2
color=gray face=Calibri><span style='font-size:11.0pt;color:gray'>Salem</span></font></st1:City><font
color=gray><span style='color:gray'>, <st1:State w:st="on">OR</st1:State>
<st1:PostalCode w:st="on">97301-3969</st1:PostalCode></span></font></st1:place><font
color=gray><span style='color:gray'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=gray face=Calibri><span style='font-size:
11.0pt;color:gray'>(503) 378-6777 ext. 230</span></font><font color=black
face="Times New Roman"><span style='font-family:"Times New Roman";color:black'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=black face=Calibri><span
style='font-size:11.0pt;color:black'>Visit our <st1:place w:st="on"><st1:PlaceName
w:st="on">Online</st1:PlaceName> <st1:PlaceName w:st="on">Resource</st1:PlaceName>
<st1:PlaceType w:st="on">Center</st1:PlaceType></st1:place>: </span></font><a
href="http://www.oregon.gov/DAS/SCD/OSPS/">http://www.oregon.gov/DAS/SCD/OSPS/</a><font
color=black><span style='color:black'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=black face=Calibri><span
style='font-size:11.0pt;color:black'> <o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 color=black face=Calibri><span
style='font-size:11.0pt;color:black'> <o:p></o:p></span></font></p>
<p class=MsoNormal><strong><b><font size=2 color=navy face=Arial><span
style='font-size:10.0pt;font-family:Arial;color:navy'>How are we doing?</span></font></b></strong><font
color=black><span style='color:black'><o:p></o:p></span></font></p>
<p class=MsoNormal><strong><b><font size=2 color=navy face=Arial><span
style='font-size:10.0pt;font-family:Arial;color:navy'>Please complete our
customer service survey:</span></font></b></strong><font color=black><span
style='color:black'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Calibri><span style='font-size:11.0pt'><a
href="http://www.surveymonkey.com/s/SCD_Feedback"
title="http://www.surveymonkey.com/s/SCD_Feedback"><em><i><font color=maroon
face=Calibri title="http://www.surveymonkey.com/s/SCD_Feedback"><span
title="http://www.surveymonkey.com/s/SCD_Feedback"><span style='font-family:
Calibri;color:maroon'>http://www.surveymonkey.com/s/SCD_Feedback</span></span></font></i></em></a></span><font
color=black><span style='color:black'><o:p></o:p></span></font></font></p>
<p class=MsoNormal><strong><b><font size=2 color=navy face=Arial><span
style='font-size:10.0pt;font-family:Arial;color:navy'>Your opinion matters</span></font></b></strong><font
color=black><span style='color:black'><o:p></o:p></span></font></p>
<p class=MsoNormal><strong><b><font size=2 color=navy face=Arial><span
style='font-size:10.0pt;font-family:Arial;color:navy'>Thank You!</span></font></b></strong><font
color=black><span style='color:black'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=2 face=Calibri><span style='font-size:10.0pt'><o:p> </o:p></span></font></p>
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