INVEST helps local government and nonprofit organizations meet financial goals
Harrisburg, PA - Pennsylvania Treasurer Stacy Garrity announced today that Ryan Buxton has been promoted to INVEST Manager, a new position within Treasury’s Bureau of Cash Management.
Buxton will develop and implement strategies to grow INVEST’s assets and increase program participation statewide. INVEST helps local government and nonprofit organizations meet their financial goals.
“INVEST is a powerful program, and with Ryan taking this leadership role, I know more nonprofit organizations and local governments will benefit from it. INVEST is tremendously flexible, and it’s a great tool to help organizations safely achieve growth without sacrificing liquidity. Ryan’s experience in community outreach in Treasury’s Bureau of Consumer Programs, and his many previous years working with INVEST, make him the perfect person for this important job.”
Pennsylvania State Treasurer, Stacy Garrity
“I want to thank Treasurer Garrity for her leadership and vision and getting INVEST into both rural and urban communities across Pennsylvania. I’m excited to continue that vision by moving the program forward by making it easier to enroll in INVEST and spreading the word about our investment products to both nonprofit organizations and government entities. Whether you’re a fire company or a municipal government, INVEST is a safe place to realize a great return on your investment.”
INVEST Manager, Ryan Buxton
Buxton has worked for Treasury since 1995, including 16 years with the INVEST Program. Prior to his new role as INVEST Manager, he worked as an Outreach Specialist with the Bureau of Consumer Programs, promoting the PA 529 College and Career Savings Program, Keystone Scholars, the PA ABLE Savings Program and unclaimed property.
INVEST is a tool designed for local government agencies and nonprofit organizations such as townships, counties, school districts, volunteer fire companies, libraries and others. The program, similar in concept to a money market fund, offers two pools – the INVEST Daily Pool and the INVEST Community Pool. There are also periodic custom investment opportunities for longer-term needs. Treasury’s investment staff, which also oversees investments and custody of more than $150 billion in public funds, manages INVEST portfolios.
Important features of INVEST include:
- No minimum balance requirement;
- Daily liquidity;
- Unlimited transactions;
- No transaction fees; and
- No minimum or maximum deposits.
More than 260 entities currently use INVEST, and the program has assets totaling about $1.3 billion.
INVEST has received the highest credit rating possible, AAAm, from Standard & Poor’s Global Ratings (S&P) for both pool offerings.