PERAC Memo #26 - 2021: Mandatory Retirement Board Member Training – 4th Quarter 2021

Memorandum Memorandum #26: Mandatory Retirement Board Member Training – 4th Quarter 2021 Date: 09/30/2021 Referenced Sources: PERAC Website PERAC Memo #26, 2021

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TO: All Retirement Boards

FROM: John W. Parsons, Esq., Executive Director

RE: Mandatory Retirement Board Member Training – 4th Quarter 2021

DATE: September 30, 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.

We anticipated having some in-person sessions this quarter. However, with the rise of the Delta variant, all sessions will be offered virtually. We will continue to monitor official guidance as we plan future education sessions.

Ways to receive your credits:

Credits for attending live PERAC webinars and the MACRS Virtual Conference are updated by PERAC staff approximately one week after the event. All attendees must register through the links available on our website. Board members seeking educational credits – it is important that you register with your full name and the email address we have on record so we can accurately update your account. Viewing a recorded session will continue to require a Training Affidavit, which must 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 are making a good faith effort to fulfill their duties and responsibilities. Your continued engagement throughout this pandemic is to be commended.

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

Date Topic/Organization Location / Registration Information October 4-5 MACRS Conference Webinar MACRS/PERAC 6 Credits - see pg. 4, section IV October 5 Open Meeting Law Webinar Office of the MA Attorney General mass.gov/info-details/open-meeting-law-trainings October 11-14 NCTR Annual Conference Virtual Conference, Cost: $500 NCTR accelevents.com/e/NCTR99AC October 14 Preventing Common Frauds & Scams Webinar, Cost: $29 1:00 p.m. MCPPO mass.gov/service-details/preventing-common-frauds-and-scams October 18 Open Meeting Law Webinar AGO mass.gov/info-details/open-meeting-law-trainings November 9 Fraud Awareness Webinar, Cost: $29 10:00 a.m. MCPPO mass.gov/service-details/fraud-awareness-training November 16 Boards & Commissions: Know Your Responsibilities Webinar, Cost: $15 4:00 p.m. MCPPO mass.gov/service-details/boards-and-commissions-know-your-responsibilities December 2 Conflict of Interest Law Training* Webinar 10:00 a.m. State Ethics Commission December 9 Contract Administration Webinar 10:00 a.m. PERAC/OIG December 16 Recent Cases of Interest** Webinar 10:00 a.m. PERAC 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 Liability in Certain Situations / Dual Membership 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: 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 mass.gov/info-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 National Council on Teacher Retirement New Webinars Added:

Public Plans: Looking Ahead The Real Estate Asset Class: Where Are We Now? Ransomware Attacks: Are Pension Benefits Next? Effective Management of Public Pension Participant Pools Diversity, Equity & Inclusion Efforts – Transformed? See our website for the links: mass.gov/info-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 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 October MACRS Conference.

You can register for this year’s conference, which will be virtual, at: https://macrsfallvirtualconference2021.eventbrite.com. The cost to attend is $100 per person.

The breakout sessions will be as follows:

Legal Panel on Monday, October 4, 2021 (Three Credits) PERAC session, “Sections 100 & 101, and other Beneficiary Matters” and “Actuarial Valuation Basics” on Tuesday, October 5, 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 2019and 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)