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About The Program > Investment Options

 PLGITSM is a portfolio of the Trust that operates like a money market fund and stresses safety of principal as its primary objective - a fact underscored by its AAAm* rating from Standard & Poor's. This professionally managed portfolio offers three classes of shares:

  • PLGIT-Class SharesSM, a flexible option which requires no minimum balance, no minimum initial investment, and a one day minimum investment period. Dividends are paid monthly.
  • PLGIT/PLUS-Class SharesSM, an option which requires a minimum investment of $50,000, a minimum investment period of thirty (30) days, and has a premature withdrawal penalty. Dividends are paid quarterly.
  • PLGIT/I-Class SharesSM, an option in which the shares are invested and redeemed by the Investor only through PLGIT's Easy Online Network ("EON"), the Trust's online account access system. This option requires a minimum initial investment of $50,000 and limits redemptions or exchanges to two per calendar month. However, there is no minimum investment period.

PLGIT/TERMSM is a fixed term investment portfolio of the Trust with maturity of up to one year, depending upon the termination date of any particular series within the PLGIT/TERM portfolio. This option requires a minimum initial investment of $100,000, a minimum investment period of sixty (60) days, and has a premature withdrawal penalty.

PLGIT/ARMSM is a program for the investment of bond proceeds only, consisting of a portfolio of the Trust which operates like a money market fund and individual portfolios of Investors. This option has no minimum initial investment requirement and has a minimum investment period of one (1) day.

PLGIT/PRIMESM is a variable rate investment portfolio rated AAAm* by Standard & Poor's.  This web-based option requires no minimum balance and no minimum initial investment.  This option limits redemptions or exchanges to two per calendar month.

Specialized Service Options 

PLGIT Investors also have access to a range of additional services authorized by the Board of Trustees and administered by the Trust's Investment Adviser, PFM Asset Management LLC ("PFMAM"). These programs include:

  • PLGIT-CDSM Purchase Program, an option that enables Investors to purchase directly Certificates of Deposit ("CDs") which are intended to be fully insured by the Federal Deposit Insurance Corporation ("FDIC"). Investments in the PLGIT-CD Purchase Program are direct investments of the Investor, not assets of the Trust or under control of the Board of Trustees.
  • PLGIT/Separate Account ManagementSM Program, an option consisting of an individual portfolio or portfolios of fixed-rate and longer-term investments selected in a manner consistent with applicable municipal code(s) and the Investor's Investment policy. Investments in a PLGIT/SAM Program individual portfolio account are direct investments of the Investor, not assets of the Trust or under the control of the Board of Trustees.

 

The Trust offers eight (8) distinct investment options. Working together, these programs give PLGIT Investors the flexibility to manage cash flow and optimize earnings. (To see a full-screen view of the table below, click here.)

 

FUND 

PLGIT1 

  

 PLGIT/
TERM2
  

 

 

PLGIT CD3  

  

 PLGIT/
ARM4
  

 

 

PLGIT/
PRIME5
 

 

 

PLGIT/
SAM6
 
 

Share Type 

PLGIT-Class 

PLGIT/PLUS-Class 

PLGIT / I-Class
(Internet Only)7
 

Investment
Period 

One Day Minimum  

All Deposits
30 Day Minimum
 

One Day Minimum  

• 60 Day Minimum
• Maximum 1 Year
 

• 60 Day Minimum 

One Day Minimum 

One Day Minimum 


No Minimum or Maximum
 

Balance Requirements  

No Minimum Balance 

No Minimum Balance After Initial 30 days
• $50,000 Minimum
Initial Deposit
 

•$50,000 Minimum
Initial Deposit
 

$100,000 Minimum 

$97,000 Minimum per CD8 

No Minimum Balance 

•No Minimum Balance
 

N/A 

Additional
Deposits
 

No Minimum
• Unlimited
• Direct Deposit Available
 

• $5,000 Minimum
• Unlimited
• Direct Deposit Available
 

• $5,000 Minimum
•Unlimited
• Direct Deposit or ACH only
 

$100,000 Minimum 

$97,000 Minimum per CD8 

No Minimum
• Unlimited

 

No Minimum
• Unlimited
 
Direct Deposit Available 

 Unlimited 

  No Minimum

Withdrawals 

No Minimum
• Unlimited next day transfer at no cost
 

No Minimum9
• Unlimited
 

• No Minimum
•Two per calendar month10
 

At Maturity 

At Maturity 

No Minimum
• Unlimited
 

• No Minimum
• Two per calendar month10
• Direct Deposit Available 

 Unlimited 

No Minimum

Checkwriting 

Unlimited Checking  

Available through
PLGIT-Class
 

Available through
PLGIT-Class
 

N/A 

N/A 

Unlimited Checking  

Available through
PLGIT-Class
 

 Available through
PLGIT-
Class
 

 Out-of-Pocket
Charges/Fees
 

   

 

Some fees may apply for significant monthly volumes of
• Outgoing wires
• Check reorders
• Lockbox
 

 

None 

  

None 

  

None 

• Up to 25 Basis Points
• Deducted Upfront or
Prorated Monthly
 

See PLGIT
Information
Statement     
 

None 

 Based on average assets
• Min $15,000/year for investment advisory services
 

Accounts 

Unlimited 

Unlimited 

Unlimited 

Unlimited 

Unlimited 

Unlimited 

Unlimited 

Unlimited 

Interest
Earnings
 

•Calculated Daily
• Paid Monthly
 

•Calculated Daily
• Paid Quarterly
 

•Calculated Daily
• Paid Quarterly
 

• Fixed Rate of Interest
• Paid At Redemption
 

• Fixed Rate of Interest
• Paid At Redemption
 

•Calculated Daily
• Paid Monthly
 

•Calculated Daily
• Paid Monthly
 

N/A 

Statements 

• Each Transaction
• Month-end
•Via Internet
 

• Each Transaction
• Month-end
•Via Internet
 

•Each Transaction
• Month-end
•Via Internet
 

• Each Transaction
• Quarterly
• Via Internet 
 

• Each Transaction
• Month-end
 

• Each Transaction
• Month-end
• Via Internet 

• Each Transaction
• Month-end
• Via Internet
 

•Each Transaction
•Month-End
•Quarterly performance (if specified)
• Via Internet 

 

1 - PLGIT is a portfolio of the Trust with three classes of shares: PLGIT-Class Shares, PLGIT/Plus-Class, and PLGIT/I-Class
2 - PLGIT/TERM is a portfolio of the Trust with separate series.
3 - PLGIT-CD Purchase Program is a program designed to assist Investors to directly purchase CDs. Investments in the PLGIT-CD Purchase Program are direct investments of the Investor, not assets of the Trust or under control of the Board of Trustees.
4 - PLGIT/ARM money market-like portfolio (bond proceeds only). Individual portfolios containing direct investments of the Investor are also available upon request. Investments in a Investor's PLGIT/ARM individual portfolio account are direct investments of the Investor, not assets of the Trust or under the control of the Board of Trustees.
5 - PLGIT/PRIME Shares are invested and redeemed by the Investor only through EON, the Trust's online account access system.
6 - The PLGIT/SAM Program consists of an individual portfolio or portfolios of fixed-rate and longer-term investments selected in a manner consistent with applicable municipal code(s) and the Investor's investment policy. Investments in an Investor's PLGIT/SAM Program individual portfolio account are direct investments of the Investor, not assets of the Trust or under the control of the Board of Trustees.
7 - PLGIT/I-Class Shares are invested and redeemed by the Investor only through EON, the Trust's online account access system.
8 - Or a larger amount such that the total value of the CD (including interests) would not exceed applicable FDIC insurance limits.
9 - No withdrawal may be made within 30 days of deposit without incurring a penalty with respect to PLGIT/PLUS-Class Shares.
10 - No more that two redemptions or exchanges per calendar month may be made without incurring a penalty with respect to PLGIT/I-Class Shares and PLGIT/PRIME.

To learn more about these investment options, please contact a PLGIT marketing representative at 1-800-572-1472.

SMPLGIT, PLGIT-Class Shares, PLGIT/PLUS-Class Shares, PLGIT/PRIME, PLGIT/TERM, PLGIT-CD, PLGIT/ARM, PLGIT/SAM, and PLGIT-CAP are service marks of the Pennsylvania Local Government Investment Trust.

*Standard & Poor’s fund ratings are based on analysis of credit quality, market price exposure and management. According to Standard & Poor’s rating criteria, the AAAm rating signifies excellent safety of invested principal and a superior capacity to maintain a $1.00 per share net asset value and the AAAf rating signifies that a portfolio's holdings provide extremely strong protection against losses from credit defaults.  However, it should be understood that these ratings are not “market” ratings or a recommendation to buy, hold or sell the securities.  For a full description on rating methodology, visit Standard & Poor's website (http://www.standardandpoors.com/en_US/web/guest/home).


 

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, PLGIT/ARM 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/PLUS-Class Shares, PLGIT/I-Class SharesPLGIT/PRIME, PLGIT/TERM, PLGIT-CD, PLGIT/ARM, PLGIT/SAM, and PLGIT-CAP are service marks of the Pennsylvania Local Government Investment Trust.

 

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