§ 341.1. Description of bonds.
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/us/cfr/t31/s§ 341.1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Investment yield (interest). United States Retirement Plan Bonds, hereinafter sometimes referred to as Retirement Plan Bonds, will be issued at par. The investment yields (interest) are as follows:
(1)Bonds with issue dates of January 1, 1963, through May 1, 1966---3.75 percent per annum, compounded semiannually (see Table of Redemption Values in the appendix).
(2)Bonds with issue dates of June 1, 1966, through December 1, 1969---4.15 percent per annum, compounded semiannually (see Table A in the appendix).
(3)Bonds with issue dates of January 1, 1970, through January 1, 1974---5 percent per annum, compounded semiannually (see Table B).
(4)Bonds with issue dates of February 1, 1974, through July 1, 1979---6 percent per annum, compounded semiannually (see Table C).
(5)Bonds with issue dates of August 1, 1979, through October 1, 1980---6.5 percent per annum, compounded semiannually (see Table D).
(6)Bonds with issue dates of November 1, 1980, through September 1, 1981---8 percent per annum, compounded semiannually (see Table E).
(7)Bonds with issue dates of October 1, 1981, or thereafter---9 percent per annum, compounded semiannually (see Table F). Interest will be paid only upon redemption of the bonds. The accrual of interest will continue until the bonds are redeemed or have reached maturity, whichever is earlier, in accordance with these regulations.
(b)Term. The maturity date of any bond issued under this circular shall be indeterminate, but unless sooner redeemed in accordance with the regulations in this part, its investment yield will cease on the interest accrual date coinciding with, or, where no such coincidence occurs, the interest accrual date next preceding, the first day of the sixtieth
(60th)month following the date of death of the person in whose name it is registered.
(c)Denominations---issue date. Retirement Plan Bonds will be available only in registered form and in denominations of \$50, \$100, \$500, and \$1,000. At the time of issue, the issuing agent will enter in the upper right-hand portion of the bond the issue date (which shall be the first day of the month and year in which payment of the purchase price is received by an authorized issuing agent), and will imprint the agent's validating stamp in the lower right-hand portion. The issue date, as distinguished from the date in the agent's validating stamp, will determine the date from which interest will begin to accrue on the bond. A Retirement Plan Bond shall be valid only if an authorized issuing agent receives payment therefor, duly inscribes, dates, stamps, and delivers it. \[28 FR 405, Jan. 16, 1963, as amended at 46 FR 60573, Dec. 11, 1981\]