PERAC Memo #2 - 2019: Mandatory Retirement Board Member Training – 1st Quarter 2019
Mandatory Retirement Board Member Training – 1st Quarter 2019
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PERAC announces Q1 2019 mandatory training opportunities for retirement board members. Chapter 32 requires 18 credits over a board member's term and at least 3 credits per year; failure to meet either standard results in ineligibility to serve beyond that term. Q1 events include "Chapter 32 in a Nutshell" sessions in Somerville, Hingham, Billerica, and Springfield; "PROSPER Update" sessions in Somerville, Danvers, and via webinar; and Conflict of Interest seminars at the State Ethics Commission. Online training options from the Ethics Commission, Inspector General, NCTR, CFA Institute, and the National Crime Prevention Council are also available for 3 credits each.
Full Text
M E M O R A N D U M
TO: All Retirement Boards
FROM: John Parsons, Executive Director
RE: Mandatory Retirement Board Member Training – 1st Quarter 2019
DATE: January 8, 2019
As you know, Chapter 32 mandates that retirement board members complete training during each year of service on the retirement board. Please note that 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.
As we enter the eighth year of this program, unfortunately, several retirement board members have become ineligible for service on retirement boards due to failure to fulfill the education mandate. We urge board members to utilize the full array of training choices, including on-line opportunities to avoid any problems in this area.
Upcoming events and locations include:
| Date | Topic | Location | Registration Info | |------|-------|----------|-------------------| | January 24, 2019 | Ch. 32 in a Nutshell | PERAC | PROSPER | | January 31, 2019 / March 28, 2019 | Conflict of Interest | State Ethics Commission | Call 617-371-9500 | | February 7, 2019 | Ch. 32 in a Nutshell | Hingham Town Hall | PROSPER | | February 21, 2019 | Ch. 32 in a Nutshell | Middlesex Retirement Board | PROSPER | | March 7, 2019 | PROSPER Update | PERAC | PROSPER | | March 21, 2019 | PROSPER Update | Danvers Town Hall | PROSPER | | March 28, 2019 | Ch. 32 in a Nutshell | Springfield Retirement Board | PROSPER | | March 26, 2019 | PROSPER Update | Webinar | PROSPER |
Pre-Approval
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. Approval for such credit must take place well in advance of the date of the event.
The Commission will grant credits for the following pre-approved programs (3 Credits each):
- NCPERS (TEDS and PATS)
- NCTR Trustee Workshop and Annual Conference
- International Foundation of Employee Benefit Plans (IFB) New Trustee/Advanced Trustees Institute
- PRIM Investors' Conference
- Ethics Training MA Town Clerks Association
- Open Meeting Law – MA Association of School Committees
- City/Town Sponsored Conflict of Interest and Open Meeting Law Training
- National Pension Education Association
- NCPERS Legislative Conference (DC)
- NASRO; GFOA
- ASPPA Annual Conference
- NCTR Webinar – Setting the Discount Rate
- Office of the Inspector General – On-Line How to be an Effective Public Board and Commission Member
- CFA Institute – Ethical Decision Making for Pension Plan Trustees
- National Crime Prevention Council Investment Fraud Prevention Webinar Series
State Ethics Commission Seminars (Three Credits)
Seminars at One Ashburton Place, Room 619, Boston. Space is limited; call 617-371-9500 or email David.Giannotti@mass.gov, or register for the webinar remotely.
- Thursday, January 31, 2019 at 10:00 AM
- Thursday, March 28, 2019 at 10:00 AM
In-Person Q1 Events
- Thursday, January 24, 2019 – Chapter 32 in a Nutshell at PERAC Offices, 5 Middlesex Ave., Somerville, MA
- Thursday, February 7, 2019 – Chapter 32 in a Nutshell at Hingham Town Hall, 210 Central Street, Hingham, MA
- Thursday, February 21, 2019 – Chapter 32 in a Nutshell at Middlesex Retirement Board, 25 Linnell Circle, Billerica, MA
- Thursday, March 28, 2019 – Chapter 32 in a Nutshell at Springfield Retirement Board, 70 Tapley Street, Springfield, MA
- Thursday, March 7, 2019 – PROSPER Update at PERAC Offices, 5 Middlesex Ave., Somerville, MA
- Thursday, March 21, 2019 – PROSPER Update at Toomey Room, Danvers Town Hall, 1 Sylvan Street, Danvers, MA
- Tuesday, March 26, 2019 – PROSPER Update via webinar (register through PROSPER)
Webinars and On-Line Training (3 Credits each)
- State Ethics Commission On-Line Conflict of Interest Law Training (required every two years per G.L. c. 268A, §28)
- Office of the Inspector General – How to be an Effective Public Board and Commission Member
- NCTR Webinar – Setting the Discount Rate – A Balancing Act (password: nctrinsight)
- National Crime Prevention Council Investment Fraud Prevention Webinar Series (accessed via PERAC website)
- CFA Institute – Ethical Decision Making for Pension Plan Trustees
To receive credit for on-line or webinar training, board members must complete and submit an affidavit through PROSPER, or submit a certificate of completion if one is issued.