PMA is a leading provider of transfer agency and fund accounting services (collectively PMA’s Fund Administration program). PMA Financial Network, LLC provides administrative services for 14 LGIPs, as of December 31, 2020. All of the following services are highly customizable and flexible to meet the unique needs of each LGIP:
- Transfer Agency
- Advanced Trustee, Client & Vendor Reporting Capabilities
- Online Account Access (PMA GPS®)
- Fund Accounting
Transfer Agency
At the core of PMA’s Fund Administration program is a robust technology platform designed to process large volumes of varied and complex participant transactions. This platform is very adaptable to allow seamless interface with various banking institutions, investment advisors and other service providers and includes:
- Wire transfers
- ACH transactions
- Payroll related transactions
- Check writing
- Electronic local payments
- State and federal tax payments
- Internal transfers and exchanges
Advanced Trustee, Client & Vendor Reporting Capabilities
With an extensive reporting system, PMA can:
- Provide detailed client reporting including consolidated fixed rate and pooled activity
- Facilitate and coordinate reporting with nationally recognized rating agencies
- Provide customizable quarterly reporting to each LGIP’s governing Board
Online Account Access (PMA GPS®)
PMA’s Government Portfolio System (PMA GPS®) is a secure Internet-based investment execution and reporting tool for active Participants of the LGIPs administered by PMA. Active users can download forms and Fund documentation, view and update current account information, view and download current and historical account statements and initiate transactions with the investment pool. There are also instructional video’s available to Fund Participants containing step-by-step instructions for all PMA GPS® activities. PMA GPS® also enables LGIP Participants to:
- View monthly account statements, daily confirmation statements, historical statements and fixed rate investment portfolios
- Enter transactions up to a year in advance as long as they follow any unique restrictions of the fund, including designated cutoff times
- Access their accounts online at any time, on a secured server 24 hours a day, 7 days a week
- Process a variety of transactions over a secured server
Fund Accounting
PMA takes pride in our customer-centric processes. We continually strive to provide excellent service to the Participants of the LGIPs we service. PMA’s Fund Accounting staff is made up entirely of degreed accountants who have a collective 45+ years of fund accounting experience. The team is responsible for a variety of tasks designed to calculate income, expenses, net asset values, mark-to-market comparisons, pricing and dividend distribution rates. They also prepare reconciliations and reports for the independent financial statement auditors and submit the reports required by the agencies that provide ratings for the funds.
