Cash Management Services
Cash Management Services
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Direct Deposit -- State Liquid Fuels and Department of Education subsidies and payments from many other state and federal subsidy and programs may be deposited directly into your designated PLGIT account. You start earning interest the same day.
Direct Payment -- You may also make direct payments electronically for federal taxes, state taxes and PSERS payments.
Same Day Wire Transfers -- Deposit and withdrawal requests via telephone or internet are available and completed the same day via the Federal Reserve System. The first two outbound Investor directed wires each month from the PLGIT portfolio are made at no cost to the Investor. Additional wires are assessed a fee of $5.50 per wire. There is no charge for incoming wires. To receive a wire into your account, please use the wire instructions found in the Investor Resources section of this website (EON login required), or contact PLGIT Client Services at 800-572-1472, to obtain wire instructions.
Next Day Transfer - Next Day Transfer utilizes the Federal Reserves Automated Clearing House (ACH) system. Funds are transferred overnight and are available in the designated account the next business day. Instructions to transfer funds to or from a PLGIT account can be provided via phone, fax or online account access and are initiated by PLGIT. Transactions must receive notification by 4:00 p.m. Next Day Transfer must be set up in advance and takes approximately ten (10) business days to establish. A model Next Day transfer Authorization letter and instructions are available. PLGIT does not charge for an ACH, but your bank may charge a nominal fee.
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The Pennsylvania Local Government Investment Trust ("PLGIT") has entered into a Plan of Reorganization (the “Reorganization”) to consolidate certain portfolios and reorganize certain share classes. As a result of this Reorganization, effective August 1, 2020, the existing PLGIT/I-Class shares were renamed PLGIT/Reserve-Class shares. PLGIT/PLUS-Class shares merged into PLGIT/Reserve-Class shares. The PLGIT/ARM Portfolio merged into the PLGIT Portfolio, and PLGIT/ARM shareholders received PLGIT/Reserve-Class shares.
This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security. Investors should consider the investment objectives, risks, charges and expenses before investing in any of the Trust’s portfolios. This and other information about the Trust’s portfolios is available in the current Information Statement, which should be read carefully before investing. A copy of the Information Statement may be obtained by calling 1-800-572-1472 or is available on the Trust’s website at www.plgit.com. While the PLGIT and PLGIT/PRIME portfolios seek to maintain a stable net asset value of $1.00 per share and the PLGIT/TERM portfolio seeks to achieve a net asset value of $1.00 per share at its stated maturity, it is possible to lose money investing in the Trust. An investment in the Trust is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Trust’s portfolios are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) and Securities Investor Protection Corporation (SIPC) (www.sipc.org). PFM Fund Distributors, Inc. is a wholly owned subsidiary of PFM Asset Management LLC.
A description of the PLGIT CD Purchase Program is contained in the PLGIT Information Statement. The Information Statement contains important information and should be read carefully before investing. Investors may purchase Certificates of Deposit through the PLGIT CD Purchase Program only by executing an investment advisory agreement with the Trust’s Investment Adviser, PFM Asset Management LLC.
SMPLGIT, PLGIT-Class Shares, PLGIT/Reserve-Class Shares, PLGIT/TERM, PLGIT-CD, PLGIT/PRIME, and PLGIT-CAP are service marks of the Pennsylvania Local Government Investment Trust.