PUBLIC DEBT OFFICE Definition

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PUBLIC DEBT OFFICE, in the U.S., is a part of the Department of Treasury and is responsible for the issuance, control, and payment of government issued securities in compliance to existing regulations.

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ERISA, in the U.S., refers to the Employee Retirement Income Security Act of 1974. It is a major U.S. law which guarantees certain categories of employees a pension after some period at their employer; there had been more ambiguity before about what rules an employer could put on which employees could get a pension.

REDEEMABLE means cashable, i.e. able to be converted into ready money or its equivalent, e.g. redeemable stocks and bonds or a cashable check.

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