Questions & Answers

General Questions

  • What are the investment objectives of NYCLASS?

    1. Legality
      • To invest only in investments legally permitted under New York State General Municipal Law (NYS GML) 
    2. Safety
      • To minimize risk by managing portfolio investments to preserve principal and maintain a stable Net Asset Value (NAV).
      • To maintain the highest rating for NYCLASS from a nationally recognized statistical rating organization as long as such rating is required by New York state law.
    3. Liquidity
      • To manage portfolio investments in a way that ensures that cash will be available as required to finance Participants’ operations.
    4. Yield
      • To maximize current income to the degree consistent with legality, safety, and liquidity.
  • Who oversees NYCLASS?

  • The NYCLASS Municipal Cooperative Agreement is administered by an elected Governing Board (the Board) of up to fifteen members. A Board member must be either a Participant’s Chief Fiscal Officer, other designated officer, or employee of the Participant who has knowledge and expertise in financial matters. The Board retains the services of Public Trust Advisors, LLC  to serve as the Program Administrator and Investment Advisor.

  • Who is eligible to use NYCLASS?

  • Participation is available to any municipal corporation or special-purpose district empowered under New York state statute including counties not within the City of New York, cities, towns, villages, school districts, boards of cooperative educational services, and fire districts. Also eligible are county or town improvement districts where the respective county or town is required to pledge its faith and credit for the district’s debt service.

  • How can you participate in NYCLASS?

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

    In order to join, Participants must approve the NYCLASS Municipal Cooperation Agreement by a majority vote of their governing body. Once the Program Administrator has received and processed the fully executed Registration Packet and Authorizing Resolution the Lead Participant and Custodian will be notified and participation can begin.

  • Is NYCLASS rated?

  • NYCLASS 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 market risk.


  • What types of securities does NYCLASS invest in?

  • NYCLASS invests funds only in securities that are legal for public funds investment in the state of New York. As detailed by the NYCLASS Investment Policy, the portfolio is comprised primarily by obligations of the United States government, repurchase agreements collateralized at 102% by U.S. Treasury, agency securities backed by the full faith and credit of the United States government, and collateralized bank deposits.

  • What is the minimum requirement for investing in NYCLASS?

  • There is no minimum investment amount for NYCLASS.

  • What are the business hours at NYCLASS?

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

  • What transaction fees does NYCLASS charge?

  • NYCLASS 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.

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

  • The NYCLASS investment holdings report is available to fund Participants online via MYACCESS.

Managing My Account

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

  • Transactions (withdrawals, contributions, transfers) conducted via MYACCESS, telephone, or fax must be submitted by 12:00 p.m. EST for same-day processing.

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

  • Next-day ACH requests must be received by 12:00 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 12:00 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 fees associated with Wires/ACHs?

  • NYCLASS 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.

  • 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 NYCLASS Client Services with the appropriate account information. The instructions to send money into NYCLASS can be found in MYACCESS.

  • What are the limits on the number of transactions?

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

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

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

  • When are the NYCLASS monthly statements delivered?

  • NYCLASS monthly statements are available in the reporting section of MYACCESS on the first business day of the month.

  • How do I update those individuals who are authorized on my NYCLASS account?

  • Please fill out the Signatory Amendment Form which is available in the forms section within MYACCESS.

  • How do I amend those individuals who receive account correspondence such as monthly statements or transaction confirmations?

  • These changes can be made in writing to

  • How do I add or remove bank instructions on my NYCLASS account?

  • Please fill out the Bank Amendment Form which is available in the forms section within MYACCESS.



  • MYACCESS is a secure, Internet-based transaction system that allows registered NYCLASS Participants to self-manage their NYCLASS investments. MYACCESS is available 24/7, 365 days a year.

  • What functions can MYACCESS perform?

  • MYACCESS allows Participants to make contributions, withdrawals, and transfers between subaccounts as well as to other approved NYCLASS 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 in MYACCESS include access to monthly statements, transaction confirmations, and details highlighting past, present, and future dated transactions.

  • How does a NYCLASS Participant receive a login for MYACCESS?

  • In order to obtain a MYACCESS online account, NYCLASS Participants may call Client Services at (855) 804-9980 or email

  • How long does it take to receive login credentials for MYACCESS?

  • All new usernames and passwords are system generated and will arrive via email one day after the request is made.