Starting September 30th, federal employees who invest in savings bonds through payroll deductions will be required to buy and store them electronically through the treasury department.
The paperless bonds requirement will extend to private-sector employees on January 1.
Last year 12 million savings bonds were sold through payroll deductions.
Individuals will still be able to buy paper bonds for gifts or for themselves at banks. However, the treasury department plans to eventually eliminate all paper savings bonds.