Frequently Asked Questions

General Questions

Establishing a Michigan CLASS Account

Managing My Account


General Questions

Q: Who oversees Michigan CLASS?
A: Investments made on behalf of the Participants are subject to the overall direction of the program’s Board of Trustees, which consists of twelve Trustees serving on behalf of the Participants for staggered terms. The Board of Trustees 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. The Board of Trustees has entered into an investment advisory agreement with Public Trust Advisors, LLC, which is responsible to the Board for all program investment and administrative activities and services provided on behalf of the Participants. More information is available on About Michigan CLASS.

Q: What type of securities does Michigan CLASS invest in?
A: Michigan CLASS invests consistent with the Investment Criteria contained in the Participation Agreement, the Board and the Investment Advisor are authorized to invest assets in only the following: US Treasury Bonds, Bills, Notes and Treasury Strips Obligations of an agency or instrumentality of the United States Commercial paper rated at the time of purchase within the highest classification established by not less than two standard rating services and that matures not more than 270 days after the date of purchase. Banker's acceptances issued by FDIC member United States banks Repurchase Agreements collateralized at 102% with PSA Master Repurchase agreement on file and or tri-party custody agreement on file. Certificates of deposit issued by and deposit accounts of a financial institution eligible under law to be a depository of Participant local units of government. Mutual funds registered under the investment company act of 1940, maintaining a $1.00 per share net asset value.

Q: What are the investment objectives for Michigan CLASS?
A: There are three investment objectives for Michigan CLASS: Safety: minimizing risk by managing portfolio investments so as to preserve principal and maintain a stable 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. Liquidity: managing portfolio investments to ensure that cash will be available as required to finance Participants’ operations. Yield: maximizing current income to the degree consistent with legality, safety and liquidity.

Q: Is Michigan CLASS rated?
A: Michigan CLASS is rated AAAm by Standard and Poor's Rating's 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. Standard and Poor's monitors the pool on a weekly basis.

Establishing a Michigan CLASS Account

Q: Who is eligible to use Michigan CLASS?
A: Participation in CLASS is available to any county, city, village, township, school district, authority, or any other political subdivision organized under the laws of the State of Michigan. To join, such public entities need only to become party to the Agreement by adopting the necessary authorizing resolution, and by providing a certified copy of such resolution to Public Trust Advisors, LLC (PTA). PTA will then notify the Custodian and the other Participants in writing, and commence the procedures necessary for the new Participant to begin using the program. Pursuant to applicable state law, PTA will review your investment policy and return the appropriate acknowledgment.

Q: How can an eligible entity establish an account?
A: To participate in Michigan CLASS, the following steps must be taken: The participant's Board must adopt the Michigan CLASS Participation Agreement by signing Exhibit D (Sample Resolution) or pass a similar Resolution authorizing participation in CLASS. Complete the Registration Packet (available in the Document Center). Complete the Depository Bank and Authorized Wire Accounts form for each of the bank accounts will be transferring funds to/from. Complete the CLASS Accounts to be Established form. You may open as many as you wish Keep a copy of all forms for your files, fax a copy to (855)381-0496 or email a copy to, and mail original forms to: Michigan CLASS Client Services c/o Public Trust Advisors, LLC 999 18th Street, Suite 1230 Denver, CO 80202

Q: What is the minimum requirement for investing in Michigan CLASS?
A: There is no minimum investment amount for Michigan CLASS.

Q: What transaction fees does Michigan CLASS charge?
A: Michigan CLASS does not charge any transaction fees.

Q: Does Michigan CLASS limit the number of subaccounts?
A: Michigan CLASS does not limit the number of subaccounts.

Managing My Account

Q: What are the business hours at Michigan CLASS?
A: The Michigan CLASS Offices are open Monday thru Friday from 8:00 a.m. until 5:00 p.m. EST. Please consult the News and Notices page for Michigan CLASS office closures.

Q: What are the daily cut-off times for transactions?
A: Transactions (Withdrawals, Contributions, Transfers) conducted by MYACCESS, telephone or fax, need to be concluded by 3:00 p.m. EST for same-day processing.

Q: What is the difference between a Wire and an ACH?
A: Wires are funds transferred via the Federal Reserve Wire System and can be processed and received by your beneficiary bank on the same day as long as the transaction is requested prior to the 3:00 p.m. EST 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.

Q: For a next-day ACH, what is the cut-off time?
A: Next day ACH requests must be received by 3:00 p.m. EST (24 hours in advance).

Q: What are the fees associated with Wires and ACHs?
A: Michigan CLASS does not charge any banking fees to its Participants. However, your bank may have wiring fees and/or incoming ACH fees, so we always recommend checking with a representative at your bank to discuss the potential costs.

Q: Are the banking instructions different for a wire or an ACH?
A: 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.

Q: How do I add or remove bank instructions on our Michigan CLASS account?
A: Please fill out the Depository Bank Amendment Form which is available in the Document Center as well as in the forms section within MYACCESS.

Q: How do I update those individuals who are authorized on our Michigan CLASS account?
A: Please fill out the Authorized Signatory Amendment Form which is available in the Document Center as well as in the forms section within MYACCESS.

Q: How do I amend those individuals who receive account correspondence such as monthly statements or transaction confirmations?
A: These changes can be made by contacting Michigan CLASS Client Services at (855) 382-0496 or via email at

Q: When are the Michigan CLASS monthly statements delivered?
A: Michigan CLASS monthly statements are emailed to Participants on the second business day of the month.


Q: What is Michigan CLASS MYACCESS?
A: MYACCESS is a secure, internet based transaction system that allows registered Michigan CLASS Participants to self-manage their Michigan CLASS investments. MYACCESS is available 24/7, 365 days a year.

Q: How does a Michigan CLASS Participant receive a login for MYACCESS?
A: In order to obtain a MYACCESS registration and instructions, Michigan CLASS Participants should call Client Services at (855) 382-0496 or email us at

Q: What functions can MYACCESS perform?
A: Michigan CLASS MYACCESS allows Participants to make contributions, withdrawals and transfers between subaccounts as well as to other approved Michigan CLASS Participants. Users can pre-date important transactions, ensuring that they are handled reliably, and avoiding unfortunate timing issues or cash access emergencies. Reporting features available via MYACCESS include access to monthly statements, transaction confirmations and details highlighting past, present and future dated transactions.

Q: How long does it take to receive a registration for MYACCESS?
A: All new usernames and passwords are system generated and will arrive via email one day after the request is made.