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Show The Sampler, July 12, 1984 New program aims at recruiting scientists and engineers into Army ROTC ROTC region, which involves by Sp5 Steven Silvers A test program offering college undergraduates part-tim- e government employment while enrolled in ROTC is intended to increase the more than '60 colleges and universities participating in the ROTC and p programs. Army activities have Army announced. The program has students enroll in the reserve officers yp SBGD5 Y0OZW! BUY U,S, SAVINGS BONDS explain. United States Savings Bonds now offer a variable interest rate tied to A one-ye- test of the ar ing and doctrine command in Fort Monroe, Va. "Everybody wants them, we want our share, too. So were offer- ing incentives to get them into the Army, at least into the government work force. Sophomores who enroll in the program will work at least 26 weeks at their p job in addition to taking co-o- pro- academic classes and ROTC training, officials say. As gram is scheduled to begin in September in the Armys first market rates. Join me and over 1 million Federal employees in taking stock in come the best qualified person the Army could hire in a industry for engineers and scientists, said Maj. Donnie Shelton at the Armys train- training corps while at the same time working as part-tim- e government employees in Jobs related to their majors. Graduates will have opportunities for permanent Army civilian jobs after completing active duty obligations or upon entering the Army Reserves, officials FOR A BETTER TOMORROW "The economy is doing ter and were competing with the U.S. ficer and civilan ranks, the . other government benefits jobs open throughout listed almost 175 already p number of scientists and engineers in the Armys of- employees, students will receive vacation, sick leave and "The student should be- scientist or job, ; said professional ' engineering Suzanne Funes of the Penta- gons civilian personnel office. "He or she has been I I.1 - f y. j ) I same community. Officers who staly on active duty more than four years tion from their training say. tui- t e ment, under whicht they may apply for civilian employment at any DA activity. Students in the program who join the reserves can also expect to be offered govern- ploying agencies to pay A s with promotions and pay acraises that would-havcrued if they had remained in the civilian job, Funes said. "Department of the Army must find a job for this per son, she said. "Hopefully it will be at the same activity as before. If not, hopefully in the trained on both sides of the house, military and.civilian. Prospects for the program e have also been told that stuemployers may pay dents tuition and books as well as salary, "since were dealing with shortage Skills, the tendency is for the empart-tim- , ? funds, Funes said, "but it goes Students who go on active duty for four years or less will be entitled to return to the jobs that they left, complete activity-by-activit- while earning between $5.95 and $7.10 an hour, and time credited toward gaining civil service status. co-o- co-o- 5 I will be eligible for reinstate-- , - ment jobs with the Army i after graduation, officials America. "fake another look at savings bonds- - weve made them better! M Secretary Department ol Housing and Urban Development 1984 Chairman, Interagency Savings Bonds Campaign jf V 9.95 Percent Rate Set For Savings Bonds The May-Octob- rate for Series EE Savings Bonds is 9.9S percent, up 0.57 percent from the 9.38 percent Katherine D. Ortega nounced recently. This is the fourth an- semi-- , annual rate to take effect variable rates for Savings Bonds were introduced on November 1, 1982. The new rate is more than one percent above the 8.64 percent rate for the period a year ago. Treasurer Ortega, who is also national director of the savings bond program, said the new rate "should be a strong incentive for the public to continue their support of the bond program through increased purchases and reduced redemptions. "The variable rate system is working," Ortega said: since market-base- d May-Octob- er "Rates paid on savings bond remain competitive with other savings and investment instruments. Increased confidence in the bond program in 1983 led to sales of $3.9 billion, an increase of 20 percent over 1982, while in the first quarter of 1984 sales are up 12 percent. With more than , $72 billion worth of bonds outstanding, the bond program is saving taxpayers more than $2.5 billion annually in interest costs on the debt. Older Series EE .and E Bonds and U.S. Savings Notes also receive the new market-base- d rate for six permonths interest-accruiods starting between May 1 and October 31, 1984, Oretga said. All bonds must be held at least five years from the date of purchase or November 1, 1982, whichever is later, to receive the variable al rate. The market-base- d rate is market percent of the five-yeon value Treasury securities during the previous six months. The rates 85 ar are changed semiannually, in November and May. Since the variable rate system went into effect 18 months ago, sales of Series EE Bonds have increased by 28 percent, while redemptions have declined by 34 percent. The value of bonds outstanding in March 1984 has increased by $4.7 billion since September 1982, from $67.5 billion. When combined with the rates previous market-base- d a vw - j- ; lvtc IMCIlt) stoc rteof l A SSp2. changes as each new six months rate is averaged in with previous semiannual rates earned from November 1, 1982, or the issue date of the bond, whichever is later. Col O fl t 198 VJble Ola1cU VlfcW The redemption value of a bond held five years or longer is determined by the Treasury Department by averaging the marketable five-yerates during each semiannual period, multiplying by 85 m ar percent, averaging the ten semiannual rates, and compounding the result semiannually from the first receive the period. Bondsmarket-basesemiannual rate for their respective semiannual interest periods beginning on or after each May 1 and November 1. As always, bond holders can find the current redemption values of their bonds using the o O 36tP- - eo'r print Oo o ' - vlb oSn Ac pc" d 3.99 TcbgFSa'S j. Tables .of Redemption Values provided by the Treasury Deaprtment to banks and other redemption agents. New bonds are guaranteed to earn a minimum of 7.5 percent per annum, compounded semiannually, if held five years or longer. The guaranteed yields on older bonds in effect before November 1, 1982, continue as a minimum to the end of original or ex- tended maturity periods i 1 October 1983 and 9.38 percent from November 1982 to the. average April 1984 yield for the four periods is 9.77 percent. This average is forpart of the market-base- d mula only for eligible bonds issued on or before April 30, 1983. The average yield rate for the previous semiannual interest period. Treasurer of the United States H - 11.09 percent from November 1982 to April 1983, 7.64 percent from May to interest er JlUflBi t ! 9 i 1 end 1 49 .99 9& st&zi t (a 2 3 0r.A398 tM-- which began before that date. Minimum guaranteed yields are effective only when market-base- 55 d higher than the new for yield. Interim yields issues held less than five years range from 5.5 percent perafter one year to cent after 2 years. Savings Bonds redeemed or reaching final maturity before being held at least five 7-- 14 4-1- S7Wfca A .69 3 1b- - 5.49 & coo years after November 1, 1982, are not eligible for interest. These market-base- d bonds earn interest on a fixed scale to redemption or final maturity, on depending pso- - 3.49 V original issue date. Series E Bonds issued May 1, 1941 1, 1944 and through May issued June 1, Series H Bonds I QMf 1952 through September 1, T V. V V J --1 i VJ U L-- 1B 1954 have reached final maturity and no longer earn interest. b.3L? ''v 5r tJ&jhM. AiS . .jji .j. r -- r" ..Ji - t l w'?,. - r it e . . - |