Memorandum

Memorandum  #13: Mandatory Retirement Board Member Training – 2nd Quarter 2019

Date: 04/01/2019
Referenced Sources: PERAC Website

PERAC Memo #13, 2019

Table of Contents

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 – 2ndQuarter 2019

DATE:             March 29, 2019

As you know, Chapter 32 mandates that retirement board members complete training during each year of service on the retirement board. Please note that 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.

As we enter the eighth year of this program, unfortunately, several retirement board members have become ineligible for service on retirement boards due to failure to fulfill the education mandate.  We urge board members to utilize the full array of training choices, including on-line opportunities to avoid any problems in this area.

Upcoming events and locations include:

Date Topic Location Registration Info
May 21, 2019 10:00 AM   Non – Investment Related Procurement PERAC Webinar PROSPER
May 30, 2019 10:00 AM   Conflict of Interest State Ethics Commission Call 617-371-9500
June 1-2, 2019     TEDS MACRS Conference Hyannis MACRS
June 3-5, 2019   MACRS Conference Hyannis MACRS
June 20, 2019 10:00 AM   Post-Retirement Earnings PERAC Webinar PROSPER
June 27, 2019 10:00 AM   Ch. 32 in a Nutshell PERAC Webinar PROSPER

(Additional details available on the following pages)

PRE-APPROVAL

The Commission is willing to approve 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…”  This provision of the statute has been interpreted to encompass particular programs offered by such entities.  For example, an ethics class or open meeting law class offered as part of a broader conference may be eligible for education credit.  However, approval for such credit must take place well in advance of the date of the event.  This will enable the Commission to analyze the program and to provide a general notice to retirement board members to maximize participation.

The Commission will grant credits for the following:

  1. NCPERS (TEDS) – 3 Credits;
  2. NCPERS (PATS) – 3 Credits;
  3. NCTR Trustee Workshop – 3 Credits;
  4. NCTR Annual Conference – 3 Credits;
  5. International Foundation of Employee Benefit Plans (IFB) New Trustee
    Institute/Advanced Trustees Institute - 3 Credits;
  6. PRIM Investors’ Conference – 3 Credits;
  7. Ethics Training MA Town Clerks Association – 3 Credits;
  8. Open Meeting Law – MA Association of School Committees – 3 Credits;
  9. City/Town Sponsored Conflict of Interest Training – 3 Credits;
  10. City/Town Sponsored Open Meeting Law Training – 3 Credits;
  11. National Pension Education Association – 3 Credits;
  12. NCPERS Legislative Conference (DC)  – 3 Credits;
  13. NASRO – 3 Credits;
  14. GFOA – 3 Credits;
  15. American Society of Pension Professionals and Actuaries (ASPPA) Annual Conference – 3 Credits;
  16. NCTR Webinar – Setting the Discount Rate – A Balancing Act – 3 Credits;
  17. Office of the Inspector General  – On-Line How to be an Effective Public Board and Commission Member – 3 Credits, and,
  18. National Crime Prevention Council – “Taking Action: An Advocate’s Guide to Assisting Victims of Financial Fraud”; “Investment Fraud Prevention Strategies”; “The Psychology of a Scam”; “Targeting Investment Fraud”; “Understanding Financial Fraud Victimology, Risk Factors, and Psychological Impact” – PERAC Website - 3 Credits

NON-PERAC; NON-MACRS EVENTS

PERAC will award credit for attendance at the following educational events sponsored by entities other than the Commission and MACRS:

State Ethics Commission Seminars (Three Credits):

The Commission will grant three (3) credits to retirement board members who complete a Public Education Seminar on the Conflict of Interest Law conducted by the State Ethics Commission.  As noted above, these sessions are sometimes held in conjunction with meetings of certain organizations.  Credit will be granted upon receipt by the Commission of a copy of the Certificate of Completion issued to the retirement board member by the State Ethics Commission.  

The State Ethics Commission will be conducting educational seminars throughout 2019 at its offices in Boston at One Ashburton Place, Room 619.  Present offerings include:

Thursday, May 30, 2019 @ 10:00 AM

Space is limited.  To attend a seminar at the Commission office, please call 617-371-9500 or email David.Giannotti@mass.gov. You may also register to participate in a webinar remotely.

Office of the Attorney General – On-Line Open Meeting Law Training (Three Credits)

The Commission will grant three (3) credits to retirement board members who complete a Public Education Seminar on the Open Meeting Law as provided by the Office of the Attorney General.  The regional trainings will be held on the following dates:

Tuesday, April 9, 2019 @ 5:30 PM – 7:30 PM

Where: Peabody City Hall, Wiggin Auditorium, 24 Lowell Street, Peabody, MA 01960

Thursday, April 25, 2019 @ 5:30 PM – 7:30 PM

Where: Avon Town Hall, Mary T. McDermott Meeting Room, 65 East Main Street, Avon, MA 02322

Thursday, May 16, 2019 @ 5:30 PM – 7:30 PM 

Where: Jones Library, Woodbury Room, 43 Amity Street, Amherst, MA 01002

If you would like to attend one of the above training presentations, please register with the Attorney General's Office by emailing OMLTraining@state.ma.us or by calling 617-963-2925. 

PERAC & MACRS EVENTS

April, May and June Educational Events

The list below contains the educational offerings to be presented in the second quarter of 2019.  It is suggested that retirement board members pre-register, however, “walk-ins” are always welcome.

MACRS June Conference (Up to Nine Credits) 

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 June1-June 5; (TEDS Seminar June 1-2, MACRS Annual Spring Conference June 3-5) in Hyannis. The breakout will be as follows:

1. Board members attending the TEDS portion of the Conference in conjunction with attendance at the remainder of the Conference (Three Credits).

2. Board members attending the Legal Panel Session during the main MACRS Conference (Three Credits).

3. Wednesday, June 5, 2019, PERAC will conduct sessions (Three Credits).

4. Board members attending only the TEDS portion of the Conference (Six Credits).

PERAC WEBINARS AND ON-LINE TRAINING

PERAC webinars will be available for on-line access after the date of the webinar under PERAC Education, On-line Training.  Please note, in order to receive educational credit retirement board members can confirm participation in the webinar offerings by completing and submitting an affidavit through the PROSPER system.  

Non-Investment Related Procurement (Three Credits)

Tuesday, May 21, 2019 at 10:00 AMPERAC will offer a session on Non-Investment Related Procurement via a webinar. Please register through PROSPER. You will receive a link to join the webinar along with instructions prior to the webinar date. 

Post Retirement Earnings (Three Credits)

Thursday, June 20, 2019 at 10:00 AM PERAC will offer a session Post Retirement Earnings via a webinar. Please register through PROSPER. You will receive a link to join the webinar along with instructions prior to the webinar date. 

Chapter 32 in a Nutshell (Three Credits)

Thursday, June 27, 2019 at 10:00 AM PERAC will offer a session on Chapter 32 in a Nutshell via a webinar. Please register through PROSPER. You will receive a link to join the webinar along with instructions prior to the webinar date. 

PROSPER Update (Three Credits)

The PROSPER Update which took place via a webinar on March 26, 2019 and updated board members on the most recent changes to the application is now available for on-line access. 

NON – PERAC WEBINARS AND ON-LINE TRAINING

State Ethics Commission On-Line Conflict of Interest Law Training (Three Credits)

In order to access the program retirement board members should go to the Ethics Commission Web Page at www.mass.gov/ethics/and then click on the link “Online Conflict of Interest Law Training”.  Following transfer to that page scroll down and click the link to “Complete the Online Training Program for Employees of Cities and Towns”.  Make sure to print out the Completion Certificate and submit it to PERAC through PROSPER.  

Please be advised that retirement board members must take this course once every two years in accordance with the provisions of G.L 268A, Section 28.

Office of the Attorney General – On-Line Open Meeting Law Training (Three Credits)

The AG’s Office is conducting webinars on the Open Meeting Law on the following dates:

Tuesday, April 30, 2019 from 12:30 PM - 2:00 PM
Thursday, May 23, 2019 from 12:30 PM - 2:00 PM

Attendees can participate entirely on-line and will be able to submit written questions during the training and receive real-time responses from Division attorneys. To attend please register in advance by calling 617-963-2925 or by emailing OMLTraining@state.ma.us.

Office of the Inspector General – On-Line – How to be an Effective Public Board and Commission Member (Three Credits)

To access go to www.mass.gov/orgs/office-of-the-inspector-general- Click on Search this Organization then type in “How to be an Effective Public Board and Commission Member”.

NCTR Webinar – Setting the Discount Rate – A Balancing Act (Three Credits)

Access at www.nctr.org/government-relations/federal-webinar/and enter the password: nctrinsight.

National Crime Prevention Council – “Taking Action: An Advocate’s Guide to Assisting Victims of Financial Fraud”; “Investment Fraud Prevention Strategies”; “The Psychology of a Scam”; “Targeting Investment Fraud”; “Understanding Financial Fraud Victimology, Risk Factors, and Psychological Impact” (Three Credits)

The National Crime Prevention Council has initiated a Webinar Series focused on Investment Fraud Prevention.  Please access the presentations from the PERAC website, under On-Line Training.  In order to complete the program and receive credits the retirement board member must review each presentation.

PARTICIPATION CONFIRMATION (ON-LINE OR WEBINARS)

Please note, in order to receive educational credit retirement board members can confirm participation in the webinar offerings by completing and submitting an affidavit through the PROSPER system.  In the event a certificate of completion is issued by an organization, board members must submit a copy of that certificate through the PROSPER system.

OTHER WEBINARS

The Commission has approved education credit for participating in webinars.  In 2019, we will entertain requests for credit in relation to relevant webinars, again, provided that such a request is made well in advance of the session.

THANK YOU

The Commission would be remiss if we did not thank all the rank and file members of the retirement boards who, in spite of other pressing duties, are making a good faith effort to fulfill their duties and responsibilities.

Commission Members

Philip Y Brown, Esq., Chairman
Auditor 
Suzanne M. Bump
Kathleen M. Fallon
Kate Fitzpatrick
James M. Machado
Robert B. McCarthy
Jennifer F. Sullivan

Downloads   for #13: Mandatory Retirement Board Member Training – 2nd Quarter 2019

Referenced Sources:

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