How does CCT operate?
The assets that the family or the person with a disability fund the trust with are placed in a sub account. The assets from all sub accounts are then “pooled” together and are invested and managed by the Trust Company of Virginia as Trustee. A record is maintained for each sub account containing the amount of each person’s trust and the amount spent for that individual. The program then divides the interest among the individual sub accounts in shares equal to the amount that each sub account has in the pooled account. A simple example is that if one sub account makes up 10 percent of the total pooled amount, then that sub account would get 10 percent of the earnings on the pooled accounts investment (minus any fees). Pooling reduces administrative fees and increases the principal for investment purposes. Beneficiaries of the trusts receive earnings based on their share of the principal. A quarterly report is provided for funded accounts. CCT staff provide daily management which include
