Secure, Expert Investment for California's Local Agencies

The Pooled Money Investment Account (PMIA) offers local governments the opportunity to invest their funds alongside the state's portfolio, leveraging the expertise of the State Treasurer's Office to ensure safety, liquidity, and yield.

Managing the state's cash flow securely

The PMIA is the state's primary investment fund, responsible for the secure and effective management of California's day-to-day cash flow.

Investing public funds for safety, liquidity, and yield

Our investment strategy is guided by three main principles: ensuring the safety of public funds, maintaining liquidity so cash is always available, and achieving a competitive yield.

Providing a secure investment vehicle for public agencies

The account provides a secure and effective investment vehicle for both state departments and the thousands of participating California local public agencies.

PMIA Resources

Find essential documents, policies, and meeting schedules for the Pooled Money Investment Account.

Program Description

Review Regulations

Reporting Documents

View Monthly Reports

Investment Policy

Read the Policy

PMIA Statuses

See Current Yields

Board Members

Meet the Board

PMIB Meeting Schedule

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Pooled Money Investment Account

Through the Pooled Money Investment Account (PMIA), the State Treasurer invests taxpayers’ money to manage the State’s cash flow and strengthen the financial security of local governmental entities. PMIA policy sets as primary investment objectives safety, liquidity and yield.

Market Value of PMIA Funds

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PMIA Portfolio Composition - 02/28/2025 
Total: $156.8 Billion

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Average Monthly Yield 07/2020 through 07/2025

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Additional Investment Information

Through the Pooled Money Investment Account (PMIA), the State Treasurer invests taxpayers’ money to manage the State’s cash flow and strengthen the financial security of local governmental entities.

Local Agency Investment Fund

The Local Agency Investment Fund (LAIF), a voluntary program, began in 1977 as an investment alternative for California's local governments and special districts, and it continues today under the administration of Treasurer Fiona Ma.

Program Description

Contact Information

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Time Deposit Program

This program allows the State Treasurer to place deposits with eligible California financial institutions. By accessing funds through the Time Deposit Program, these institutions can reinvest in the California communities they serve.

Program Description

Contact Information

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