PERAC Memo #37 - 2020: Mandatory Retirement Board Member Training – 1st Quarter, 2021

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. Office of the MA Attorney General Register: https://tinyurl.com/OML-01-21 January 26 Conflict of Interest Training* Webinar 10:00 a.m. State Ethics Commission Register: https://tinyurl.com/SEC-0126 January 28 Legislative Update** Webinar 10:00 a.m. PERAC Register: https://tinyurl.com/PERAC-0128 February 2 – February 3 NCPERS FALL Conference Virtual Conference Registration Fee: $300 Registration: https://www.ncpers.org/fall-conference February 25 The Annual Statement & Cash Books** Webinar 10:00 a.m. PERAC Register: https://tinyurl.com/PERAC-0225 March 11 Administrator Roundtable** Webinar 10:00 a.m. PERAC Register: https://tinyurl.com/PERAC-0311 March 25 Conflict of Interest Training* Webinar 10:00 a.m. 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 David.Giannotti@mass.gov 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