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TT&L |
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In addition to assisting with the collection of taxes, the Banks, through the Treasury Tax and Loan (TT&L) program, have been instrumental in helping the Treasury earn interest on tax proceeds (and other funds) that are not immediately needed. Under its Treasury Tax and Loan Deposit Administrative Program, TIAA/CREF deposits approximately $125 million in federal tax withholdings from its employees' payroll and its retirement system annuities into an account at Drexel National Bank. 00% Treasury Tax and Loan Notes 2,344 5,452 (3,108)-57. |
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