| October 1999 |
Indiana firm, NBT, new administrator for LMER U.S. Savings Bond program
Beginning October 1, 1999, National Bond and Trust Company of Crown Point, Ind., will be administering the Lockheed Martin Energy Research Corporation’s U.S. Savings Bond program. Employees must contact NBT for changes to deduction amounts, address changes, beneficiary changes or any other changes that affect savings bonds.
NBT can be reached Monday through Friday from 8 a.m. to 4:30 p.m. CST by calling 1-800-426-9314. Questions, concerns or actions concerning your participation in the savings bond program will be handled by NBT.
Payroll deduction for savings bonds will continue to be processed by LMER Payroll Operations, which will then transmit data to NBT. The funds will continue to be held here, with NBT making a monthly request for the funds needed to purchase the employee savings bonds. The contractual agreement with NBT specifies that employees will not be directly solicited by NBT, that employees’ participation in the bond program will be kept confidential and that employee rosters cannot be used for any reason other than the processing of employees’ savings bonds. LMER will allow NBT to visit ORNL as part of the annual U.S. savings bond campaign to present their program and answer employee questions and concerns.
“Since NBT is wholly dedicated to processing savings bonds, we believe that employees will experience a higher level of service and interaction with a more knowledgeable staff,” says Mike Emery of Business Operations. “We also believe that employees will be provided with more options and opportunities through NBT. For example, the Treasury Department recently announced the availability of Series I savings bonds, which LMER has been unable to provide. National Bond does offer Series I bonds as part of its program.”
NBT also offers an optional insurance program on bond purchases that allows employees, for a small fee or premium, to obtain insurance protection on bond purchases guaranteeing continuation of bonds for up to 20 years in the event of death. There is no obligation to purchase the insurance; however, it is a feature that was not previously available.
