Date: | 06/30/2021 |
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Referenced Sources: | PERAC Website |
PERAC Memo #19, 2020
Date: | 06/30/2021 |
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Referenced Sources: | PERAC Website |
PERAC Memo #19, 2020
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 – 3rd Quarter, 2021
DATE: June 30, 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.
While the State of Emergency ended June 15, all offerings will continue to be offered virtually this quarter. One of the webinars offered this quarter will be presented by representatives from the Office of the Inspector General. I would like to thank their office for customizing the content specifically for retirement board members. In addition, there will be no Emerging Issues Forum this September. As the Commonwealth continues to emerge from the pandemic, we will be considering in-person training options for the fourth quarter.
Ways to receive your credits:
I. Training Offered by PERAC (pre-registration is required)
Date |
Topic/Organization |
Location / Registration Information |
July/August |
Self-Guided Cybersecurity Training |
Online Tutorial – register by July 15th |
|
PERAC |
mass.gov/forms/perac-cybersecurity-training |
July 28 |
Fiduciary Duty for Board Members; Fraud Awareness & Prevention |
Webinar |
10:00 a.m. |
Office of the Inspector General/PERAC |
|
September 28 |
The Retirement Onramp |
Webinar |
10:00 a.m. |
PERAC |
II. PERAC Cybersecurity Training
PERAC will be offering retirement board members and staff the opportunity to participate in a self-led cybersecurity training this summer through a company called Wizer. Please go to https://www.mass.gov/forms/perac-cybersecurity-training by July 15th to register.
Once you register, you will receive a unique link to take a self-guided training on your own time in approximately one week. You will have until the end of August to complete this training. Board members who complete the training will need to upload their completion certificate into PROSPER to receive three educational credits.
III. Recently Added PERAC Produced Online Training (available on demand)
Topics |
Liability in Certain Situations / Dual Membership |
Additional recorded webinars presented by PERAC are available on the website at https://www.mass.gov/info-details/perac-online-training
IV. Training Offered by Other Organizations (pre-registration required)
Date |
Topic/Organization |
Location / Registration Information |
July 13 |
Demystifying Operational Due Diligence |
Webinar |
1:00 p.m. |
NCPERS |
|
July 19 |
Open Meeting Law |
Webinar |
4:00 p.m. |
Office of the MA Attorney General |
|
July 22 |
Conflict of Interest Law Training* |
Webinar |
12:00 p.m. |
State Ethics Commission |
|
July 26-28 |
Trustee Workshop |
Virtual Conference, Cost: $600 |
|
NCTR |
|
August 4 |
How to Navigate an Investigation by an Oversight Agency |
Webinar, Cost: $29 |
10:30 a.m. |
MCPPO |
|
August 22-24 |
2021 Public Pension Funding Forum |
Conference, Cost: see website |
Scottsdale, AZ |
NCPERS |
|
August 31 |
Public Sector Ethics |
Webinar, Cost $29 |
10:30 a.m. |
MCPPO |
|
September 9 |
Open Meeting Law |
Webinar |
6:00 p.m. |
Office of the MA Attorney General |
|
September 23 |
Conflict of Interest Training* |
Webinar |
10:00 a.m. |
State Ethics Commission |
|
September 26 |
FALL Conference |
Virtual Conference, Cost: see website |
|
NCPERS |
* 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. Board members may receive credit for attending the live session every year.
V. 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 |
The Fallacies of Asset Allocation |
|
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 |
https://www.mass.gov/info-details/inspector-general-educational-videos |
Office of the Attorney General |
Open Meeting Law Training |
* 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.
VI. 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 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:
The Commission would be remiss if we did not thank all the members of the retirement boards who are making a good faith effort to fulfill their duties and responsibilities. Your continued engagement this past year is to be commended.
Philip Y Brown, Esq., Chairman
Auditor Suzanne M. Bump
Kathleen M. Fallon
Kate Fitzpatrick
James M. Machado
Richard MacKinnon, Jr.
Jennifer F. Sullivan