Payroll savings offered
U of S Payroll Manager Kelly Read has announced that this year’s campaign for the new series of Canada Savings Bonds is now underway and the University will again offer its voluntary Payroll Savings Plan and Canada RSP plan for monthly paid employees.
Minimum monthly payroll deductions are $10 (Payroll Savings) and $40 (Canada RSP) and they will begin with the Dec. 23, 2005 salary payment, Read says. Employees may cancel the payroll deduction at any time, and may contact the Bank of Canada at any time to arrange for either partial or full redemption of their contributions.
Read says the Canada RSP option does provide a tax receipt and tax-sheltered growth, while the investment is 100-per-cent guaranteed. There are no fees to purchase, hold or redeem the bonds and their interest rate will not go down, and may go up, during the announced period. The bonds may be cashed at any time.
The campaign ends and all forms must be returned to the Payroll Office, Rm E-70 Administration, by 4:00 p.m., Fri., Oct. 21.
For details on both the Canada Savings Bonds and Canada RSP plans, see the Financial Services Division website at: www.usask.ca/fsd or contact Payroll by e-mail at: firstname.lastname@example.org with questions and new application requests.