PERAC Memo #14 - 2021: Mandatory Retirement Board Member Training – 2nd Quarter 2021

Memorandum Memorandum #14: Mandatory Retirement Board Member Training – 2nd Quarter 2021 Date: 03/31/2021 Referenced Sources: PERAC Website PERAC Memo #14, 2020

Skip table of contents Table of Contents To All Retirement Boards: Commission Members Downloads Contact To All Retirement Boards:

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 – 2nd Quarter 2021

DATE: March 31, 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.

Due to ongoing social distancing guidelines related to the COVID-19 pandemic and to prioritize your safety, we will continue to provide all offerings virtually this quarter.

Ways to receive your credits:

Credits for attending live PERAC webinars are updated by PERAC staff approximately one week after the event. Note: we have adjusted the registration process for these webinars: All attendees must register through the links available on our website. Board members – it is important that you register with your name and email address we have on record so that we can accurately update your account. Viewing a recorded session will continue to require that a Training Affidavit be submitted through PROSPER. 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 (pre-registration is required)

Date Topic/Organization Location / Registration Information April 6 SFI Online Submission Webinar 10:00 a.m. PERAC mass.gov/perac-education April 15 Open Meeting Law Webinar 9:30 a.m. Office of the MA Attorney General https://tinyurl.com/AGO-OML-0415 April 20 2021 Legislative Webcast Free for NCPERS Members 12:00 p.m. NCPERS ncpers.org/legislative-conference April 21 Fraud Awareness Training Webinar, Cost: $29 10:30 a.m. MCPPO https://tinyurl.com/mcppo-0421 April 29 How to Detect Fraud in Financial Statements Webinar, Cost: $29 10:30 a.m. MCPPO https://tinyurl.com/mcppo-0429 May 4 Preparing for the Pandemic's Impact on Your Pension Plan - Year 2 Webinar 1:00 p.m. NCPERS https://tinyurl.com/NCPERS-0504 May 18-20 FINRA Annual Conference Virtual Conference, Cost: $199-$399 10:00 a.m. FINRA https://tinyurl.com/finra21 June 3 Conflict of Interest Law Training* Webinar 10:00 a.m. State Ethics Commission https://tinyurl.com/0603-ethics

June 7-8 MACRS Conference Virtual Conference PERAC/MACRS mass.gov/perac-education June 8-9 Trustee Educational Seminar (TEDS) Virtual Conference, $300 NCPERS https://www.ncpers.org/teds June 17 Liability in Certain Situations/Dual Membership** Webinar 10:00 a.m. PERAC mass.gov/perac-education Date Topic/Organization Location / Registration Information *Board members must complete the Conflict of Interest Law training at least once every two years, however, the live session may be taken for credit every year. A certificate of completion is required to receive credit for the Conflict of Interest training. ** Indicates live event will be recorded and available to view on demand at a later date

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

Topics Legislative Update SFI Online Submission Annual Statement and Cash Books Administrator Roundtable Topics Additional recorded webinars presented by PERAC are available on the website

III. 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 NCPERS 2021 State & Federal Legislation Webcast https://www.youtube.com/watch?v=yyZhQEK9lZw

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 You must watch all three videos https://www.mass.gov/service-details/inspector-general-educational-videos 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 Cybersecurity Webinar https://www.mass.gov/service-details/macrs-cybersecurity-webinar National Council on Teacher Retirement (NCTR) Four new webinars added:

How the Teachers Retirement System of Georgia Prioritizes for Success in the Age of COVID-19 New Biden Administration: Washington Insiders Discuss Retirement Legislation, Taxes & Investments Public Pensions and the Pandemic - An Update State Legislative Activity Affecting Public Pensions See our website for the links: https://www.mass.gov/service-details/perac-online-training 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. Credit for the recorded session may only be awarded once every two years. IV. Other Opportunities to Obtain Educational Credit

As has been the case in the past, PERAC, in conjunction with MACRS, will provide board members the opportunity to earn up to six educational credits at the June MACRS Conference.

This year’s conference will be virtual. Registration information will be posted on our website once it is available. The breakout will be as follows:

Legal Panel on Monday, June 7, 2021 (Three Credits) PERAC session, Veterans’ Benefits, on Tuesday, June 8, 2021(Three Credits) 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:

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)