Memorandum

Memorandum  #14: Mandatory Retirement Board Member Training – 2nd Quarter 2021

Date: 03/31/2021
Referenced Sources: PERAC Website

PERAC Memo #14, 2020

Contact   for #14: Mandatory Retirement Board Member Training – 2nd Quarter 2021

Public Employee Retirement Administration Commission

Phone

Hours: 9:00 a.m. to 5:00 p.m., Monday through Friday

For deaf, hard of hearing, or speech impaired

Call to report suspected pension fraud

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 – 2nd Quarter 2021

DATE: March 31, 2021

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.

Due to ongoing social distancing guidelines related to the COVID-19 pandemic and to prioritize your safety, we will continue to provide all offerings virtually this quarter.

Ways to receive your credits:

  • Credits for attending live PERAC webinars are updated by PERAC staff approximately one week after the event.
  • Note: we have adjusted the registration process for these webinars:
    All attendees must register through the links available on our website. Board members – it is important that you register with your name and email address we have on record so that we can accurately update your account. Viewing a recorded session will continue to require that a Training Affidavit be submitted through PROSPER.
  • If a Certificate of Completion is offered for any training not directly provided by PERAC, you must submit the certificate through PROSPER for proper 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.

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

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

Date

Topic/Organization

Location / Registration Information

April 6

SFI Online Submission

Webinar

10:00 a.m.

PERAC

mass.gov/perac-education

April 15

Open Meeting Law

Webinar

9:30 a.m.

Office of the MA Attorney General

https://tinyurl.com/AGO-OML-0415

April 20

2021 Legislative Webcast

Free for NCPERS Members

12:00 p.m.

NCPERS

ncpers.org/legislative-conference

April 21

Fraud Awareness Training

Webinar, Cost: $29

10:30 a.m.

MCPPO

https://tinyurl.com/mcppo-0421

April 29

How to Detect Fraud in Financial Statements

Webinar, Cost: $29

10:30 a.m.

MCPPO

https://tinyurl.com/mcppo-0429

May 4

Preparing for the Pandemic's Impact on Your Pension Plan - Year 2

Webinar

1:00 p.m.

NCPERS

https://tinyurl.com/NCPERS-0504

May 18-20

FINRA Annual Conference

Virtual Conference, Cost: $199-$399

10:00 a.m.

FINRA

https://tinyurl.com/finra21

June 3

Conflict of Interest Law Training*

Webinar

10:00 a.m.

State Ethics Commission

https://tinyurl.com/0603-ethics

 

June 7-8

MACRS Conference

Virtual Conference

 

PERAC/MACRS

mass.gov/perac-education

June 8-9

Trustee Educational Seminar (TEDS)

Virtual Conference, $300

 

NCPERS

https://www.ncpers.org/teds

June 17

Liability in Certain Situations/Dual Membership**

Webinar

10:00 a.m.

PERAC

mass.gov/perac-education

*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.
** Indicates live event will be recorded and available to view on demand at a later date

II. Recently Added PERAC Produced Online Training (available on demand)

Topics

Legislative Update

SFI Online Submission

Annual Statement and Cash Books

Administrator Roundtable

Additional recorded webinars presented by PERAC are available on the website

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

Organization

Topic

How to find webinar:

National Council on Public Employee Retirement Systems

NCPERS 2021 State & Federal Legislation Webcast

https://www.youtube.com/watch?v=yyZhQEK9lZw

 

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

https://www.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

MA Association of Contributory Retirement Systems

MACRS Cybersecurity Webinar

https://www.mass.gov/service-details/macrs-cybersecurity-webinar

National Council on Teacher Retirement (NCTR)

Four new webinars added:

  • How the Teachers Retirement System of Georgia Prioritizes for Success in the Age of COVID-19
  • New Biden Administration: Washington Insiders Discuss Retirement Legislation, Taxes & Investments
  • Public Pensions and the Pandemic - An Update
  • State Legislative Activity Affecting Public Pensions

 

See our website for the links:
https://www.mass.gov/service-details/perac-online-training

Links to all of the above webinars can be found on PERAC’s Education page at https://www.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. IV. Other Opportunities to Obtain Educational Credit

As has been the case in the past, PERAC, in conjunction with MACRS, will provide board members the opportunity to earn up to six educational credits at the June MACRS Conference.

This year’s conference will be virtual. Registration information will be posted on our website once it is available. The breakout will be as follows:

  1. Legal Panel on Monday, June 7, 2021 (Three Credits)
  2. PERAC session, Veterans’ Benefits, on Tuesday, June 8, 2021(Three Credits)

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 2021, 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 2019 and 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 MacKinnon, Jr.
Jennifer F. Sullivan

Downloads   for #14: Mandatory Retirement Board Member Training – 2nd Quarter 2021

Contact   for #14: Mandatory Retirement Board Member Training – 2nd Quarter 2021

Referenced Sources:

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