PERAC Memo #6 - 2022: Mandatory Retirement Board Member Training – 1st Quarter 2022

TO: All Retirement Boards

FROM: John Parsons, Esq., Executive Director

RE: Mandatory Retirement Board Member Training – 1st Quarter 2022

DATE: January 12, 2022

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.

In light of recent issues we have come across, we are offering two new sessions this quarter, Cybersecurity Training & Internal Control Plan Development offered in collaboration with the State Comptroller and the State Police. We strongly encourage all board members and staff to attend these trainings which will be offered in February and March respectively. We will send out an email when these dates have been confirmed.

Ways to receive your credits:

Credits for attending live PERAC webinars 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 requires 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 to receive 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 throughout this prolonged pandemic. Dependent on official guidance, we may resume in-person sessions later this year.

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

Date Topic/Organization Location / Registration Information January 18 NCPERS 2022 State & Federal Legislation Webinar 1:00 p.m. National Conference of Public Employee Retirement Systems tinyurl.com/0118-ncpers January 26 Open Meeting Law Webinar 9:30 a.m. AGO tinyurl.com/0126-AGO January 27 Conflict of Interest Law Training* Webinar 10:00 a.m. State Ethics Commission tinyurl.com/0127-ethics February 8 Open Meeting Law Webinar 12:30 p.m. AGO tinyurl.com/0208-OML February Cybersecurity Training** Webinar Date TBD MA Comptroller / State Police February 16 Open Meeting Law Webinar 9:30 a.m. AGO tinyurl.com/0216-AGO February 26-28 NASRA Winter Meeting (Washington D.C.) In-person Conference National Association of State Retirement Administrators NASRA.org/meetings March 10 Preparing the Annual Statement & Cash Books | Submitting SFI in PROSPER*** Webinar 10:00 a.m. PERAC tinyurl.com/0310-PERAC March 24 Conflict of Interest Law Training* Webinar 10:00 a.m. State Ethics Commission tinyurl.com/0324-ETHICS March Internal Control Plan Training** Webinar Date TBD MA Comptroller

*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.

**We will send out an email when these events have been confirmed. ***This 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 Recent Cases of Interest (Winter 2021)

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: IRS Withholding Form W-4P See our website for the links: mass.gov/info-details/perac-online-training

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

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 2022, 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)