Tax Exempt Money Market Funds are mutual funds offered by prospectus ONLY.
The prospectus is available directly from the issuing companies, and some issuing companies provide their prospectus online via the internet.
The goal of Tax Exempt Money Market Funds is to seek a high level of current income exempt from federal income tax that is consistent with preservation of capital, stability of principal and liquidity.
Some Tax Exempt Money Market Funds also seek a high level of current income exempt from state, (CA, CT, FL, MA, MI, NJ, NY, OH, PA) local and or property income tax that is consistent with preservation of capital, stability of principal and liquidity.
Many Tax Exempt Money Market Funds are designed for investors who want to earn income at current tax exempt money market rates while seeking to preserve principal.
Tax Exempt Money Market Funds typically invest in tax exempt money market instruments issued by specific states and its counties, municipalities, authorities and/or political subdivisions. (See prospectus for specific investments.)
All tax exempt money market funds are US Dollar denominated.
Tax Exempt Money Market Funds are NOT FDIC insured.
All tax exempt money market accounts are held directly at the issuing mutual fund company.
Tax Exempt money market shares can be redeemed by mail, telephone, wire and unlimited no minimum check writing is provided.
Some products offer a VISA Gold Card with cash rebate on all purchases or air mileage. Other features include: cash access via ATMs, accident and collision insurance, medical assistance, extended product warranties, lost card replacement services, etc. Typically, a small annual fee applies for these cards.
ATM cash access available with no charges from the fund.
Direct Deposit available for payroll, pension, social security, veteran’s, government benefits, etc.
Automatic regular transfer plans available to pre-designated recipients, and automatic bill paying service available.
Generally, these types of tax exempt money market funds have minimum initial investments ranging from $1,000 to $5,000.
Depending on services and features desired with these Tax Exempt Money Market Funds annual fees can range from $0 up to $60 or more.
All Mutual Funds, Variable Annuities, Variable Life Insurance policies and Money Market Funds are offered by prospectus ONLY. For complete information including charges and expenses, obtain a prospectus, and read it carefully before you invest.
An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other Government agency.
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
In some cases, Tax Free mutual funds are not tax free from state and local taxes and in other individual situations an Alternative Minimum Tax may apply.
Investing in stocks, bonds, mutual funds, variable annuities, and money market funds does not guarantee a profit.
All of these investments can lose money.
