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Quick Takes: Three Things You Should Know About This Month

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1.    No More Paper Savings Bonds

Did you know that as of January 1, 2012, the U.S. Department of Treasury no longer issues paper savings bonds? Savings bonds have gone totally online. This also means that banks and other financial institutions won’t be selling them.

You can still purchase savings bonds as an investment and to give as gifts. The first step is to set up a TreasuryDirect account. Keep in mind that to give a bond as a gift, the recipient must also have a TreasuryDirect account.

If you are a Lehigh employee, you can have a set amount of your paycheck deposited directly your TreasuryDirect account every pay period. You can then use those funds to purchase a range of Treasury Bonds for investment purposes. Once you have set up your TreasuryDirect account, download and complete the required Direct Deposit form from the Payroll Office.

Questions? Connect with the Payroll Office or The U.S. Department of Treasury.


2.    Credit Union Members: Direct Deposit Your Tax Refund


Tax season is upon us. If you are a Bethlehem Teachers Federal Credit Union member and receiving a refund, you can have it deposited directly into your account. Your refund will arrive safely into your account and will be available to use immediately.


To have the funds come directly to the Credit Union, you will need to provide its ABA/routing number to the Internal Revenue Service (IRS). That number is: 231379490.


Contact the Credit Union at 610-691-0041 if you have any questions.


3.    2011 Flexible Spending Account Reimbursement Deadline Approaching

If you have a Healthcare or a Dependent Care Flexible Spending Account (FSA), remember that you must have all of your 2011 expense reimbursement requests filed by March 31.

Remember:  Any eligible expenses from the 2011 calendar year that you do not request reimbursement for by March 31 will not be reimbursed. Any funds remaining in your FSA after that date will be forfeited.

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Spotlight is published monthly by Human Resources. Please address any comments to Hillary Kwiatek, Spotlight Editor, Human Resources, 428 Brodhead Avenue, send email to hik210@lehigh.edu, or call extension 85165.

Current and past issues of Spotlight can be viewed and searched at: Past Issues.