If you want extra cash for a more secure retirement, college tuition for the kids, even a dream vacation - and a chance to support America at the same time - then the U.S. Savings Bond program is perfect for you! The Department kicks off its 2002 U.S. Savings Bonds campaign this week, and every HUD employee is eligible to participate - no waiting period is required.

Interest on U.S. Savings Bonds is exempt from state and local income tax - effectively raising your overall return - and you don't need to pay Federal income tax on the interest until you cash your bond or until it stops earning interest in 30 years. What's more, your investment is good for America - the money you invest in savings bonds helps finance our country's borrowing needs directly. Buying U.S. Savings Bonds through the payroll savings plan is an easy way for HUD employees at any age and every grade to save for the future.

In addition to the well-known Series EE Savings Bond (currently paying 3.96 percent interest - superior to traditional savings or money market accounts), you also can use payroll deduction to purchase the inflation indexed I Bond. The I Bond earns an adjustable interest rate that keeps your savings growing over and above inflation - for up to 30 years. This means as living costs rise over the years, inflation won't erode your purchasing power.

Both Secretary Martinez, Chairman of HUD's 2002 Savings Bond Campaign, and Assistant Secretary for CPD Roy Bernardi, Vice Chairman, encourage every HUD employee to look at the advantages of the payroll saving plan. To enroll for the first time or increase a current allotment, contact your office savings bond coordinator. For additional information, visit the U.S. Savings Bond web site (www.savingsbonds.gov/), where you'll find a Savings Bond calculator to get the present or future value of your savings bonds, a Tax Advantage calculator, and an on-line Growth Planner calculator for any investment.