Memorandum  #37: Mandatory Retirement Board Member Training – 1st Quarter, 2021

Date:	12/21/2020
Referenced Sources:	PERAC Website

PERAC Memo #37, 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 – 1st Quarter, 2021

DATE: December 18, 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 are three credits each, unless otherwise noted.

Due to ongoing social distancing guidelines related to the COVID-19 pandemic, all offerings this quarter are virtual as we continue to prioritize safety while trying to balance educational opportunities.

Ways to receive your credits:

• Please note, we have adjusted the registration process for live webinars:
  Attendees must now register through the links available on our website, not through PROSPER. We request that board members registering for a live event do so by submitting their full name and the email address we have on record so that we may accurately update educational credits in PROSPER.
• Credits for attending live PERAC webinars are updated by PERAC staff approximately one week after the event. You do not need to contact us to receive these credits.
• The process for obtaining credit for viewing a recorded session will remain the same. Board members must submit a properly completed Training Affidavit in PROSPER to receive credit for viewing recorded PERAC webinars, pre-approved webinars from other organizations (recorded or live), pre-approved conference attendance, or any other
  pre-approved training.
• Any session listed under sections I, II, and III of this memo are pre-approved.
• If a Certificate of Completion is offered for any training not directly provided by PERAC, you must submit the certificate through PROSPER to receive credit.

The Commission thanks you and appreciates all of your dedication and resilience in continuing to meet your statutory responsibilities while providing outstanding service during the challenges of the pandemic.

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

Date	Topic/Organization	Location / Registration Information
January 7	Open Meeting Law	Webinar
9:30 a.m.	Offered by: Office of the MA Attorney General	Register: https://tinyurl.com/OML-01-21
January 26	Conflict of Interest Training*	Webinar
10:00 a.m.	Offered by: State Ethics Commission	Register: https://tinyurl.com/SEC-0126
January 28	Legislative Update**	Webinar
10:00 a.m.	Offered by: PERAC	Register: https://tinyurl.com/PERAC-0128
February 2 – February 3	National Conference of Public Employee Retirement Systems FALL Conference Registration Fee: $300	Virtual Conference Registration: https://www.ncpers.org/fall-conference
February 25	The Annual Statement & Cash Books**	Webinar
10:00 a.m.	Offered by: PERAC	Register: https://tinyurl.com/PERAC-0225
March 11	Administrator Roundtable**	Webinar
10:00 a.m.	Offered by: PERAC	Register: https://tinyurl.com/PERAC-0311
March 25	Conflict of Interest Training*	Webinar
10:00 a.m.	Offered by: State Ethics Commission	Register: https://tinyurl.com/SEC-0325

* 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.

Please request a certificate of completion to [e-mail] after attending a seminar.

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

 

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

Topics

Accidental Disability: Remands & Medical Panels

Buybacks: Interest Calculations

Recent Cases of Interest

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

Organization	Topic	How to find webinar:
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 Attorney General	Open Meeting Law Training You must watch all six videos	https://go.usa.gov/xpPx5
MA Association of Contributory Retirement Systems	MACRS Legal Panel	https://www.mass.gov/info-details/macrs-legal-panel-webinar
FINRA	Financial Crimes, Trends, and Responses in the Midst of the Pandemic	https://tinyurl.com/finra-fin-crimes
FINRA	How to Protect Yourself and Your Firm From Cyberattacks When Working From Home During COVID-19	https://tinyurl.com/finra-cv19-cyber
Western Region Homeland Security Advisory Council	Cyber Essentials--Yourself, Your Staff, and Your Systems	https://tinyurl.com/wrhsac-1-3
Western Region Homeland Security Advisory Council	Cyber Essentials--Your Surroundings, Your Data, and Your Actions Under Stress	https://tinyurl.com/wrhsac-4-5

Please see our website for previously added webinars that are still available for board credit. Links to all available 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 offered by other organizations.  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, when available, must take place at least three weeks prior to 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 may 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 Office of the Inspector General
• 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