Q: Who is eligible to use TrustINdiana?
A: Any local unit of government (e.g., counties, municipalities, school corporations, townships, and other units of local government) as well as the State of Indiana is eligible to use TrustINdiana for their cash investment needs. To establish an account, the finance officer, as defined in IC 5-13-9-11 (c), needs to complete a registration form and deliver it to TrustINdiana Client Services. Client Service will then work with the finance officer to establish the account particulars.
Q: How is TrustINdiana different from other cash investment options?
A: While no investment option is devoid of risk, local government investment pools, like TrustINdiana, offer one of the safest investment options for local governments. The funds invested in TrustINdiana are converted into a common pool of high-grade, fixed income investment assets (e.g., securities backed by the full faith and credit of the United States Treasury or full guaranteed by the United States, commercial paper rated in the highest category by one rating agency, bank deposits with Indiana designated depositories), that preserves the principal of the public’s funds, remains highly-liquid, and maximizes the return on the investment. The common investment assets must be permitted by the TrustINdiana’s investment policy and state statute. These investment assets are held by the custodian (The Bank of New York) in the name of the fund participants. Safety is further enhanced by limiting the term of specific investments, asset class diversification, as well as the weighted average maturity of the entire portfolio to correspond conservatively with cash flow expectations and to mitigate any market timing risk.
Q: What is the minimum requirement for investing in TrustINdiana?
A: There is no minimum investment amount for TrustINdiana.
Q: What transaction fees does TrustINdiana charge?
A: TrustINdiana does not charge any transaction fees.
Q: What are the limits on the number of transactions?
A: TrustINdiana does not limit the number of transactions.
Q: Does TrustINdiana limit the number of subaccount?
A: TrustINdiana does not limit the number of subaccounts.
Q: When is the daily cut-off for an investment in TrustINdiana?
A: Participant investments may be made at any time during the business day, with interest posted on such investment for that day, subject to notification of Client Services by 12:00 P.M., Eastern time, by Client Connection, fax or phone, that an investment will be made.
Q: When is the daily cut-off for a disbursement from TrustINdiana?
A: Disbursement requests received by made by 12:00 P.M., Eastern time, will be processed and paid the same day.
Q: What happens if I make an investment after the cut-off time?
A: Investments made after 12:00 P.M., Eastern time will be posted the next business day.
Q: What happens if I make a disbursement request after the cut-off time?
A: Disbursement requests made after 12:00 P.M., Eastern time will be posted the next business day.
Q: What happens if I make a disbursement request after the cut-off time?
A: Disbursement requests made after 12:00 P.M., Eastern time will be posted the next business day.
Q: How much does TrustINdiana charge for an outgoing wire or ACH?
A: TrustINdiana does not charge Participants for an outgoing wire or ACH.
Q: How about the charges for monies sent by wire or ACH to TrustINdiana?
A: Participants that wire or send investments via ACH into TrustINdiana accounts are responsible for the wire or ACH charges levied by their own banks.
Q: What is TrustINdiana’s Client Connection?
A: Client Connection is a secure, internet based transaction system that allows TrustINdiana Participants to self management their TrustINdiana investments. Client Connection is available 24/7, 365 days a year. Participants can pre-date important transactions, ensuring that they are handled reliably, and avoiding unfortunate timing issues or cash access emergencies.
Q: How does a TrustINdiana Participant access Client Connection?
A: TrustINdiana Participants need to call Client Services to obtain a Personal Identification Number (PIN) and instruction on using Client Connection.
Q: What functions can Client Connection perform?
A: TrustINdiana’s Client Connection allows Participants to make contributions or withdrawals, or transfer funds from subaccounts. Participants can also review all transactions: previous day, same day or pending future transactions. Additionally, Participants can access rate information (current and historic) and explanations of rates reported, plus view detailed account summaries and interest payment summaries.