Memorandum  #21: Mandatory Retirement Board Member Training – 3rd Quarter 2018

Date:	07/11/2018
Referenced Sources:	PERAC Website

PERAC Memo #21, 2018

To All Retirement Boards:

M E M O R A N D U M

TO:                 All Retirement Boards

FROM:           Joseph E. Connarton, Executive Director

RE:                 Mandatory Retirement Board Member Training – 3^rd Quarter 2018

DATE:            July 11, 2018

As you know, Chapter 32 mandates that retirement board members complete training during each year of service on the retirement board.  Failure to meet this mandatory requirement will prohibit the member from serving beyond the conclusion of the term for which the training requirement was not met.

Retirement board members are reminded of the requirement to meet the statutory education mandate.  As we enter the sixth year of this program it must be noted that, unfortunately, several retirement board members have become ineligible for service on retirement boards due to failure to fulfill the education mandate.

Upcoming events and locations include:

Date	Topic	Location	Registration Info
July 25, 2018	How to be an Effective Board Member	Clark University	Register on Inspector General’s Web Site www.mass.gov/ig/
July 26, 2018	Conflict of Interest	Ethics Commission	Call 617-371-9500 or e-mail [e-mail]
August 16, 2018	Administrators Meeting	Northampton	PROSPER
September 13, 2018	PERAC Emerging Issues Forum	Holy Cross College	Reservations will be made through Eventbrite
September 20, 2018	Vernava	PERAC	PROSPER
September 27, 2018	Conflict of Interest	Ethics Commission	Call 617-371-9500 or e-mail [e-mail]
September 27, 2018	Smoothing, Spiking and Other Actuarial Mysteries	PERAC	PROSPER

Webinars and On-Line Training

Topic	Registration Info
State Ethics Conflict of Interest Law	Call 617-371-9500 or e-mail [e-mail]
Open Meeting Law	Call 617-963-2925 or e-mail [e-mail]
National Crime Prevention Webinar	www.ncpc.org
Ethical Decision Making for Pension Plan Trustees	https://www.cfainstitute.org/learning/products/multimedia/Pages/130211.aspx?WPID=BrowseProducts

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. NCPERS Public Pension Funding Program – 3 Credits; and,
16. American Society of Pension Professionals and Actuaries (ASPPA) Annual Conference – 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 Attendance issued to the retirement board member by the State Ethics Commission.

The State Ethics Commission will be conducting educational seminars throughout 2018 at its offices in Boston at One Ashburton Place, Room 619.  Present offerings include:

Thursday, July 26, 2018 at 10:00 AM

Thursday, September 27, 2018 at 10:00 AM

Space is limited.  To attend a seminar at the Commission office, please call 617-371-9500 or 
e-mail [e-mail]– You may also register to participate remotely in a webinar.

Office of the Inspector General – How to be an Effective Board Member (Three Credits)

(1) Wednesday, July 25, 2018 at 9:00 AM at the Grace Conference Room, Higgins Building, Room 950, Clark University, Worcester, MA (To register, please visit the Inspector General website at www.mass.gov/ig/)  For additional information on the MCPPO Program, please contact Joyce McEntee Emmett, MCPPO Director, at [phone] or via email at [e-mail].

July, August and September Educational Events

The list below contains the educational offerings to be presented in the third quarter of 2018.  It is suggested that retirement board members pre-register, however, “walk-ins” are always welcome.

PERAC Emerging Issues Forum (Three Credits)

On Thursday, September 13, 2018 PERAC’s Fourteenth Annual Emerging Issues Forum will take place at the College of the Holy Cross in Worcester. Three educational credits will be awarded to retirement board members who attend. Individuals who wish to attend the Forum must register with PERAC in advance. Registration materials and a detailed agenda will be emailed to retirement board members and administrators and other interested parties in mid-July. Questions about the Forum should be directed to Tom O’Donnell, PERAC Compliance Officer at 617-666-4446, ext. 922 (Reservations will be made through Eventbrite – details will be announced shortly). 

Board Administrators – 91A, Veterans, 12(B) and More (Three Credits)

1. Thursday, August 16, 2018 at 8:00 AM at the Hotel Northampton, 36 King Street, Northampton, MA (Please make reservations through the PROSPER System) Registration is strongly recommended.

Vernava  (Three Credits)

1. Thursday, September 20, 2018 at 10:00 AM at the PERAC Offices, 5 Middlesex Ave., Somerville, MA (Please make reservations through the PROSPER System)

Section 3(8) (c), Smoothing, Spiking and Other Actuarial Mysteries

1. Thursday, September 27, 2018 at 10:00 AM at the PERAC Offices, 5 Middlesex Ave., Somerville, MA (Please make reservations through the PROSPER System)

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.  No credit will be granted unless a completed certificate is filed with PERAC.

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:

Thursday, July 19, 2018 from 9:30 AM - 11:00 AM.

Attendees can participate entirely online 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 e-mailing [e-mail]– Please note that in order to receive credit a board member must submit an affidavit of attendance through the PROSPER System.

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.  Retirement Board members may access the site by going to www.ncpc.org/and clicking on “Programs”.  On that page in the green box on the left click on “Investment Fraud Prevention Program”.  This will bring you to the page entitled Investment Fraud Prevention Program.  On that page in the green box click on “Webinar Series”.

This will bring you to the presentations listed above.  In order to complete the program and receive credits, the retirement board member must download and review the presentation “Taking Action: An Advocate’s Guide to Assisting Victims of Financial Fraud” and review the presentations pertaining to “Investment Fraud Prevention Strategies”, “The Psychology of a Scam”, “Targeting Investment Fraud”, and “Understanding Financial Fraud Victimology, Risk Factors, and Psychological Impact”.

CFA Institute – An Overview of Compliance with the CFA Institute Asset Ethical Decision Making for Pension Plan Trustees (Three Credits)

In order to access this Webcast retirement board members should go to the www.cfainstitute.organd click on “Insights & Learning”.  Click on “Publications & Multimedia” then type the course in the search box in the upper right hand part of the screen. This will bring you to a series of webcasts; choose the appropriate audio webcast recorded on June 7, 2016. 

PARTICIPATION CONFIRMATION (ON-LINE OR WEBINARS)

Please note, in order to receive educational credit retirement board members can confirm participation in the on-line or 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 2018, 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