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Michigan CLASS

Prime-style local government investment pool 

Michigan CLASS EDGE

Enhanced cash local government investment pool 

Yields

Current and historical rate information

Overview

A comprehensive introduction to the different Michigan CLASS portfolios 

Portfolio Characteristics

A monthly breakdown of the Michigan CLASS portfolio

Board of Trustees

Get to know our diverse and experienced public finance officials who oversee the program

Service Providers

Our administrator, auditor, custodian, and legal counsel

Document Center

Enrollment documents, prospectuses, and financials 

Insights for Investors

Updates, newsletters, and special reports

Events

Upcoming Board meetings, holidays, events, and conferences

FAQs

Answers to commonly asked questions about Michigan CLASS

Join Michigan CLASS

Getting started is easy; join today and start earning tomorrow!

Relationship Team

Contact our investment professionals who can provide you with information about the program 

Client Services

Assistance with your accounts and answers to your Michigan CLASS questions

LCSA Partnership

Local Community Stabilization Authority and Michigan CLASS Partnership 

Sample of General Questions FAQ

General Questions

  • How can I submit an audit confirmation to Michigan CLASS?

  • Please email your audit confirmation to clientservices@michiganclass.org and provide either a fax number or email for receipt. Michigan CLASS is also accessible on www.confirmation.com and will receive notification of your audit confirmation on the platform.

    Due to the ongoing COVID-19 pandemic, audit confirmations sent via USPS will have a significant delay, so we strongly encourage email confirmations.

  • How can Participants obtain a copy of the Michigan CLASS investment holdings report?

  • The Michigan CLASS investment holdings report is available to Participants online via the Michigan CLASS Transaction Portal.

  • How can you participate in Michigan CLASS?

  • Enrolling in Michigan CLASS is simple. Any of the entity types listed in the answer above may join Michigan CLASS as a Participant and take advantage of the investment program.

    To join Michigan CLASS, please take the following steps:

    1. Submit your investment policy to the Program Administrator for review.
    2. Adopt the Michigan CLASS Participation Agreement by passing a board resolution authorizing participation in Michigan CLASS.
    3. Complete the Trust Registration Form.
    4. Submit the above documents via fax to (855) 381-0496 or email to clientservices@michiganclass.org.

  • Is Michigan CLASS rated?

  • Michigan CLASS is rated ‘AAAm’ by S&P Global Ratings Services, the highest rating assigned to principal stability government investment pools. This rating reflects the conservative nature of the pool’s investments as well as the excellent credit quality of the program. S&P Global Ratings monitors the pool on a weekly basis.

    A ‘AAAm’ rating by S&P Global Ratings is obtained after S&P evaluates a number of factors including credit quality, market price exposure, and management. Ratings are subject to change and do not remove credit risk.

  • What transaction fees does Michigan CLASS charge?

  • Michigan CLASS does not charge any transaction fees to its Participants. However, your receiving bank may have wiring fees and/or incoming ACH fees, therefore we recommend checking with a representative at your bank to discuss the potential costs.

  • What are the business hours at Michigan CLASS?

  • The Michigan CLASS offices are open Monday through Friday from 8:00 a.m. until 5:00 p.m. ET. Please consult the Client Services Page for Michigan CLASS office closures.

  • What is the minimum requirement for investing in Michigan CLASS?

  • There is no minimum investment amount for Michigan CLASS.

  • What are the investment objectives of Michigan CLASS?

    1. Safety: minimizing risk by managing portfolio investments so as to preserve principal and maintain a stable net asset value and to maintain the highest rating for the pool from a nationally recognized statistical rating organization for so long as such rating is required by Michigan law.
    2. Liquidity: managing portfolio investments to ensure that cash will be available as required to finance Participants’ operations.
    3. Yield: maximizing current income to the degree consistent with legality, safety, and liquidity.

  • Who oversees Michigan CLASS?

  • The Michigan CLASS Board of Trustees (the Board) oversees the investments made on behalf of the Participants. The Board consists of thirteen active members of the pool who are elected by the Participants for staggered terms. The Board approves the program’s investment parameters which must additionally fall within the investment stipulations mandated under Michigan statute for the investment of surplus funds of the Participants. Currently, the Board retains the services of Public Trust Advisors, LLC (Public Trust) located in Denver, CO. Public Trust serves as the Administrator and Investment Advisor.

  • Who is eligible to use Michigan CLASS?

  • Participation in Michigan CLASS is available to any county, city, village, township, school district, authority, the state of Michigan, or any other political subdivision organized under the laws of the state of Michigan. To join, such public agencies need to execute an authorizing resolution joining the Participation Agreement and provide a certified copy of such resolution to the Administrator.  Pursuant to applicable state law, Public Trust Advisors, LLC will review each entity’s investment policy and return the appropriate acknowledgment.

  • What types of securities does Michigan CLASS invest in?

  • Michigan CLASS invests solely in securities that are both permitted by Michigan law and adhere to the Michigan CLASS Investment Policy.

    Pursuant to direction by the Board and in conformance with applicable Michigan laws governing investment options for Participants, funds of the Participants are invested in high quality, short-term, fixed-income instruments selected to provide for program safety, liquidity, and competitive rates of return. A complete list of eligible investments is available in the Michigan CLASS Investment Policy located in the Document Center.

Managing My Account

  • When are wires sent from my account when I request a withdrawal?

  • Wires are sent every hour with the final distribution taking place shortly after the close of the fund at 3:00 p.m. ET; distribution times are subject to change as needed by the Michigan CLASS Administrator.

  • What are the deposit instructions for Michigan CLASS?

  • Please visit the FAQs in the Help Section of the Michigan CLASS Online Transaction Portal to view the deposit instructions to send funds into your Michigan CLASS account. Please note, you will need to send the fund from your bank.

  • How do I update my contact information and notification preferences?

  • Once logged in to the Michigan CLASS Online Transaction Portal, Participants can update their contact information and notification preferences by navigating to the to the Administration menu then choosing My Info.

  • How are the Michigan CLASS monthly statements delivered?

  • To download your Michigan CLASS statements, please go to the Accounts Menu in the portal. From there, please navigate to the Documents Section. Statements are not emailed for the security of the Michigan CLASS Participants’ account information.

  • Does Michigan CLASS limit the number of subaccounts a Participant can have?

  • Michigan CLASS does not limit the number of subaccounts Participants can have.

  • What are the limits on the number of transactions?

  • Michigan CLASS does not limit the number of transactions Participants can do.

  • How do I update individuals who have access to my Michigan CLASS account?

  • Please navigate to the Administration menu to make changes to your Authorized Contacts. Please refer to the User Guide available in the Forms menu for further instructions.

  • How do I add or delete authorized banks?

  • Please navigate to the Administration menu to make changes to your Authorized Banks. Please refer to the User Guide available in the Forms menu for further instructions.

  • Are the banking instructions different for a wire or an ACH?

  • Many banking institutions have separate ABA/Routing Numbers depending on whether the transactions are being processed via Wire or ACH. Please contact your local banking representative to ensure that you are providing Michigan CLASS Client Services with the appropriate account information. The instructions to send money into Michigan CLASS can be found in the Michigan CLASS Transaction Portal.

  • For a next-day ACH, what is the cut-off time?

  • Next-day ACH requests must be received by 3:00 p.m. ET (24 hours in advance).

  • What is the difference between a wire and an ACH?

  • Wires are funds transferred via the Federal Reserve Wire System and can be processed and received by your beneficiary bank on the same day if the transaction is requested prior to the 3:00 p.m. ET cut-off. ACHs (Automated Clearing House) are processed overnight and are generally available to the beneficiary bank one business day after the transaction request has been made.

  • What are the daily cut-off times for transactions?

  • Transactions (withdrawals, contributions, transfers) conducted via the portal, telephone, or fax must be submitted by 3:00 p.m. ET for same-day processing.

  • What are the fees associated with wires/ACHs?

  • Michigan CLASS does not charge any banking fees to its Participants. However, your receiving bank may have wiring fees and/or incoming ACH fees, therefore we recommend always checking with a representative at your bank to discuss the potential costs.

LCSA TEST

  • Would you like to learn more about Michigan CLASS?

    Please fill out this contact form, and an investment professional will contact you shortly.

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