PERAC Memo #25 - 2020: Mandatory Retirement Board Member Training – 3rd Quarter 2020

Memorandum Memorandum #25: Mandatory Retirement Board Member Training – 3rd Quarter 2020 Date: 07/10/2020 Referenced Sources: PERAC Website PERAC Memo #25, 2020

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top 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 – 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: OMLTraining@mass.gov 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: OMLTraining@mass.gov 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 Date Topic/Organization Location / Registration Information

• 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 Topics 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 Organization Topic How to find webinar: 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