Monday, March 25, 2019

TELFPlus Investment Program

How to invest school funds in longer-term fixed income securities safely and conveniently

TELFPlus, from The Education Liquidity Fund, helps Iowa schools invest public funds in fixed income securities that comply with Iowa State Code Section 12B.10. These securities include Certificates of Deposit (CDs) and deposit accounts issued by Iowa financial institutions.

The program, which is administered and advised by Miles Capital, enables participants to place funds in pre-authorized Iowa financial institutions while soliciting the most competitive rates within the state. In so doing, the program insures public fund reinvestment and aids in community growth.

The maximum maturity of securities purchased through the program will not exceed 60 months. It is anticipated that most participants will hold TELFPlus investments until maturity, thus reducing risks associated with market fluctuations and interest rate changes.

If a participant liquidates a TELFPlus investment prior to maturity, loss of principal and, in the case of CDs, early redemption penalties may be incurred. Such losses should be minimal due to the relative short maturity and high quality of the securities.


Participants can obtain a competitive rate with maturities up to 60 months per a phone call, email, or fax. Rates quoted will be net of all TELFPlus expenses. The participant's account will be charged for securities purchased and credited with the proceeds when securities mature or are sold. Interest on the investment is credited directly to the participantís account.

Maximum yields, maximum protection

Miles Capital will regularly contact and solicit bids on the participantís behalf from approved Iowa financial institutions that satisfy the firmís credit screening process. Miles Capital seeks to determine the highest rates currently being paid on CDs, based on the credit worthiness of the banks and their ability to properly collateralize.

Not all TELFPlus investments are FDIC-insured.

How to put TELFPlus to work for your school district

To purchase investments through TELFPlus, simply contact Miles Capital, toll free at (866) 720-2995. You will be advised of approved securities that provide competitive returns, as well as the current rate of your desired investment. Investments purchased under TELFPlus will be held by the programís custodian for the benefit of the participant. Interest earned on investments held for participants, as well as proceeds upon maturity, will be automatically collected by the programís custodian and credited to the participant.

Miles Capital collects a portion of the interest paid to operate TELFPlus. All CDs are quoted net of fees, and fees are paid at the time of interest receipt on all TELFPlus investments.

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