Memorandum  #25: Mandatory Retirement Board Member Training – 3rd Quarter 2020

Date:	07/10/2020
Referenced Sources:	PERAC Website

PERAC Memo #25, 2020

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 – 3rd Quarter 2020

DATE: July 10, 2020

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 the attendee three credits each.

Due to ongoing social distancing guidelines related to the COVID-19 pandemic, all offerings this quarter are virtual. Accordingly, this year’s Emerging Issues Forum has been cancelled. We will present the scheduled keynote virtually and will continue to expand online offerings to assist you in meeting your educational requirements. No decisions have been made regarding the annual adminstrators’ trainings, but we will prioritize safety while trying to balance educational opportunities.

Ways to receive your credits:

• Credits for attending live PERAC webinars are manually updated by PERAC staff– please make sure to register in advance. Viewing a recorded session requires a Training Affidavit.
• 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

Date	Topic/Organization	Location / Registration Information
July 14	Semi-Annual State & Federal Legislation Webcast*	Webinar
1:00 p.m.	Offered by: NCPERS	Register: ncpers.org/webinars
July 16	Preparing for Private Investments that Turn Choppy*	Webinar
1:00 p.m.	Offered by: NCPERS	Register: ncpers.org/webinars
July 20	Open Meeting Law	Webinar (pre-registration required)
10:00 a.m.	Offered by: Office of the MA Attorney General	Register: [e-mail]  or 617-963-2925.
July 20-22	Annual Trustee Workshop	Virtual Conference
	Offered by: NCTR	Register: nctr.org (deadline July 13)
July 23	Conflict of Interest Law**	Webinar
10:00 a.m.	Offered by: State Ethics Commission
July 29	Ethical Decision Making	Webinar
12:00 p.m.	Offered by: CFA Institute	Register: Link on PERAC Website
August 13	Open Meeting Law	Webinar (pre-registration required)
9:30 a.m.	Offered by: Office of the MA Attorney General	Register: [e-mail]  or 617-963-2925
August 19	Options on Retirement & Beneficiary Selection*	Webinar
10:00 a.m.	Offered by: PERAC	Register: PROSPER
August 24-25	2020 Public Pension Funding Forum	Virtual Conference
	Offered by: NCPERS	Register: ncpers.org
September 17	Emerging Issues Keynote Featuring J. Robert Brown, Jr.	Webinar
11:00 a.m.	Offered by: Public Company Accounting Oversight Board	Register: PROSPER
September 23	Post-Retirement Employment & Other FAQ’s*	Webinar
10:00 a.m.	Offered by: PERAC	Register: PROSPER
September 24	Conflict of Interest Law**	Webinar
10:00 a.m.	Offered by: State Ethics Commission
September 29-30	FALL Conference	Virtual Conference
	Offered by: NCPERS	Register: ncpers.org

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

** 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. II. PERAC Produced Online Training (available on demand)

Topics

Functioning During the State of Emergency

Chapter 32 in a Nutshell

Recent Cases of Interest

Audit Process Revisions

An Introduction to the Annual Statement

III. Other Pre-Approved Online Training (available on demand)

Organization	Topic	How to find webinar:
Nat’l. Conf. on Public Employee Retirement Systems	Please see PERAC’s  website for a list of five pre-approved NCPERS webinars	https://www.mass.gov/service-details/webinars
PRIM	Executive Director Q1 2020 market commentary plus a Q4 2019  performance recap	https://www.mass.gov/info-details/q1-2020-market-commentary
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	How to be an Effective Public Board and Commission Member	https://tinyurl.com/IG20abc to view webinar
Office of the Inspector General	Fraud Awareness & Prevention in the Workplace	https://tinyurl.com/IG20fraud to view webinar
Office of the Inspector General	Contract Administration for Public Employees	https://tinyurl.com/IG20contract to view webinar
Office of the Attorney General	Open Meeting Law Training	https://go.usa.gov/xpPx5 to view. You must watch all six videos
National Council on Teacher Retirement	Please see PERAC’s website  for a list of the 13 pre-approved NCTR webinars	www.nctr.org/government-relations/federal-webinar/ and enter the password: nctrinsight
National Crime Prevention Council	Investment Fraud Prevention Program	https://tinyurl.com/NCPC-perac Download and review all five pdf presentations
U.S. Department of Health and Human Services	Cybersecurity	https://go.usa.gov/xpu4Q

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. IV. Other Opportunities to Obtain Educational Credit

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…”   

Additionally, the Commission has approved education credit for participating in webinars.  In 2020, 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.

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)
• Pension Reserves Investment Management Board Investors’ Conference

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