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Memorandum About the Federal Payroll Savings Plan

June 02, 1970

Memorandum to the Heads of Departments and Agencies

By Executive Order [11532], which I have signed today, I have made several changes in the Interdepartmental Committee for Voluntary Payroll Savings Plan for the Purchase of United States Savings Bonds. These changes should result in a more efficient operation of the Federal Payroll Savings Plan.

Savings Bonds have long played a vital role in the management of the national debt by non-inflationary means. The more than $52 billion now outstanding amounts to nearly one-fourth of the privately held portion of the debt.

This Administration is dedicated to sound financial management. I urge each of you to give your full support to the Payroll Savings Plan.


Richard Nixon, Memorandum About the Federal Payroll Savings Plan Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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