PERAC offers a wide range of educational offerings throughout the calendar year. All members of the Massachusetts retirement community are welcome to attend any of our sessions, especially retirement board members, administrators, and staff.
Minimum Training Required for Board Members
During each member's term on a retirement board, the member must complete 18 hours of training in order to continue serving beyond their current term. A minimum of three hours of training must be completed annually but no more than 9 hours may be credited in any one year. Members can attend more than 18 hours worth of training per term if they wish to do so.
PERAC is required to sponsor at least nine hours of training each year, which include, at a minimum, the topics of fiduciary responsibility, ethical conduct, and conflict of interest. An additional nine hours are to be related to topics prescribed by the Commission and provided by the Massachusetts Association of Contributory Retirement Systems (MACRS) and other local, state, regional, or national entities as it may determine.
Members must ensure they have properly registered for classes and their attendance is recorded in order to receive proper credit. In the event a member takes an approved online course that does not offer attendance verification, they are required to complete the Training Affidavit Form within PERAC's PROSPER application. Board members who fail to successfully complete the educational requirement are prohibited from serving on the board beyond the conclusion of their current term.