Memorandum  #11: Mandatory Retirement Board Member Training – 2nd Quarter 2022

Date:	04/01/2022
Referenced Sources:	PERAC Website

PERAC Memo #11, 2022

To All Retirement Boards:

M E M O R A N D U M

TO:                  All Retirement Boards

FROM:            John W. Parsons, Esq., Executive Director

RE:                  Mandatory Retirement Board Member Training – 2nd Quarter 2022

DATE:            April 1, 2022

Chapter 32 mandates retirement board members to complete training during each year of service on the retirement board. This requirement has two elements: 18 credits over the course of the member’s term and at least 3 credits in each year of the term. Failure to meet either of these statutory standards will prohibit the member from serving beyond the conclusion of the term for which the training requirement was not met. We urge board members to utilize the full array of training choices in order to remain eligible to serve. All classes, webinars, seminars, and conferences listed will earn three credits each, unless otherwise noted.

Ways to receive your credits:

• Credits for attending live PERAC webinars and the MACRS Conference are automatically updated by PERAC staff approximately one week after the event.
  • All attendees must register through the links available on our website.
  • Board members seeking educational credits – it is important that you register with your full name and the email address we have on record so we can accurately update your account.
  • Board members must check in each day at MACRS to receive full credit.
• You must submit a completed Training Affidavit in PROSPER for all other trainings, including pre-recorded PERAC webinars and pre-approved webinar and conference attendance. Any session listed under sections I, II, and III are pre-approved.
• If a Certificate of Completion is offered for any training not directly provided by or sponsored by PERAC, you must submit the certificate through PROSPER to receive credit.
• Please note the full name of the recorded session you have viewed when submitting a Training Affidavit in PROSPER.
• Some sessions require pre-registration. Check individual sessions for closing dates.

The Commission appreciates all the retirement board members who are making a good faith effort to fulfill their duties and responsibilities despite the challenges of this prolonged pandemic. With the easing of restrictions and following official health and safety guidelines, we are considering in-person sessions later this year, including the return of the Emerging Issues Forum.

I. Training Schedule Dates (pre-registration is required)

Date	Topic/Organization	Location / Registration Information
April 4	Open Meeting Law	Webinar
12:30 p.m.	AGO	https://tinyurl.com/AGO-0404
April 12	Procuring Legal Services	Webinar
10:00 a.m.	MCPPO ($29.00)	https://tinyurl.com/mcppo-412
April 19	Open Meeting Law	Webinar
12:30 p.m.	AGO	https://tinyurl.com/AGO-0419
May 5	Open Meeting Law	Webinar
9:30 a.m.	AGO	https://tinyurl.com/AGO-0505
May 12	Public Sector Ethics	Webinar
10:00 a.m.	PERAC/Inspector General	https://tinyurl.com/IGO-0512
May 18	How to Detect Fraud in Financial Statements	Webinar
9:00 a.m.	MCPPO ($29.00)	https://tinyurl.com/mcppo-518
May 19	Open Meeting Law	In-person Conference
10:00 a.m.	AGO	https://tinyurl.com/AGO-0519
May 21-22	TEDS Conference	Conference (Washington D.C.)
	NCPERS (see website for cost)	www.ncpers.org/teds
May 22-25	ACE Conference	Conference (Washington D.C.)
	NCPERS (see website for cost)	www.ncpers.org/annual-conference
June 2	Conflict of Interest*	Webinar
10:00 a.m.	State Ethics Commission	https://tinyurl.com/0602-ethics
June 7	Preventing Common Frauds and Scams	Webinar
10:00 a.m.	MCPPO ($29.00)	https://tinyurl.com/MCPPO-0607
June 12-15	MACRS Spring Conference	Conference (3-6 credits)
	Note: this event will be in person	Registration info to follow

*Board members must complete the Conflict of Interest Law training at least once every two years, however, the live session may be taken for credit every year.  A certificate of completion is required to receive credit for the Conflict of Interest training.

II. Recently Added or Recurring Pre-Approved Online Training
(available on demand)

Organization	Topic	How to find webinar:
State Ethics Commission	Conflict of Interest Law* select either State and County or Municipal links	https://go.usa.gov/xpPxD and view appropriate webinar
Office of the Inspector General	Inspector General Videos You must watch all three videos	mass.gov/service-details/inspector-general-educational-videos
Office of the Attorney General	Open Meeting Law Training You must watch all six videos	https://go.usa.gov/xpPx5
National Council on Teacher Retirement	New webinar added: WEP Reform: An Update	See our website for the link: mass.gov/service-details/perac-online-training
National Conference on Public Employee Retirement Systems	New webinars added: 2022 State & Federal Legislation A Decade after the Deception: are we destined to repeat the 2008 financial crisis?	See our website for the links: mass.gov/service-details/perac-online-training
PERAC Updated 2021 handouts are available for download.	2020 Cash Books & Annual Statement This is a recording of last year’s presentation. Members can view the recording and receive 3 educational credits by completing a Training Affidavit in PROSPER.	https://www.mass.gov/service-details/cash-books-annual-statement
Massachusetts Office of the State Comptroller	Cybersecurity for Retirement Boards PowerPoint Presentation Note: this presentation is available for download for use as a reference. It is not available for credit.	https://www.mass.gov/lists/perac-2022-educational-seminar-handouts

Links to all of the above resources can be found on PERAC’s Education page at
mass.gov/perac-education.

* Board members must complete the Conflict of Interest Law training once every two years.
A certificate of completion is required to receive credit for the Conflict of Interest training.

Credit for the recorded session may only be awarded once every two years.

III. MACRS June Conference (up to six credits)

After a long hiatus, the Massachusetts Association of Contributory Retirement Systems (MACRS) will once again host an in-person conference. As has been the case in the past, PERAC, in conjunction with MACRS, will be making educational opportunities available at the June MACRS Conference from June 12 – June 15 in Hyannis. The breakout will be as follows:

1. The Legal Panel Session during the main MACRS Conference (Three Credits)
2. Wednesday, June 15, 2022, PERAC sessions on proposed updates to PERAC Regulations (Three Credits)

Registration information is forthcoming.

IV. Other Opportunities to Obtain Educational Credit

The Commission is willing to approve other educational credits for a variety of events sponsored by “…local, state, regional and national organizations recognized by the Commission as having expertise in retirement issues of importance to retirement board members or other entities…”  

Additionally, the Commission has approved education credit for participating in webinars.  In 2022, we will again entertain requests for credit in relation to relevant webinars provided that such a request is made well in advance of the session.

Approval for credit must take place well in advance of the date of the event or webinar.  This will enable the Commission to analyze the program and provide a general notice to other retirement board members to maximize participation. Once approved, you must complete the Training Affidavit in PROSPER to ensure proper credit. Board members experiencing Extenuating Circumstances in meeting educational requirements should review Memo 15 of 2019and contact PERAC with any questions.   

The following list of local and national organizations provide additional educational opportunities that may be relevant for retirement board members:

• American Society of Pension Professionals and Actuaries (ASPPA)
• City/Town Sponsored Conflict of Interest or Open Meeting Law Training
• Government Finance Officers Association (GFOA)
• International Foundation of Employee Benefit Plans (IFEBP)
• MA Association of School Committees Open Meeting Law Training
• MA Town Clerks Association Ethics Training
• National Association of State Retirement Administrators (NASRA)
• National Conference on Public Employee Retirement Systems (NCPERS)
• National Council on Teacher Retirement (NCTR)
• National Pension Education Association (NPEA)

Commission Members

Philip Y Brown, Esq., Chairman
Auditor Suzanne M. Bump
Kathleen M. Fallon
Kate Fitzpatrick
James M. Machado
Richard McKinnon Jr.
Jennifer F. Sullivan