PERAC Memo #30 - 2023: Mandatory Retirement Board Member Training – 1st Quarter 2024

PERAC Memo #30/2023 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 – 1 st Quarter 2024 DATE: December 20, 2023 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.
Ways to receive your credits: •Credits for attending live PERAC webinars are automatically updated by PERAC staff approximately one week after the event. oAll attendees must register through the links available on our website. oBoard 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. •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 through V are pre-approved. •If a Certificate of Completion is offered for any training not directly provided by or sponsored by PERAC, you must submit the certificate through PROSPER to receive credit. •Please note the full name of the recorded session you have viewed when submitting a Training Affidavit in PROSPER. •Some sessions require pre-registration. Check individual sessions for closing dates. The Commission appreciates all the retirement board members who are making a good faith effort to fulfill their duties and responsibilities. We look forward to seeing you all in the new year!
PERAC Auditor DIANA DIZOGLIO | KATHLEEN M. FALLON | KATE FITZPATRICK | JAMES J. GUIDO | RICHARD MACKINNON, JR. | JENNIFER F. SULLIVAN, ESQ. JOHN W. PARSONS, ESQ., Executive Director FIVE MIDDLESEX AVENUE, SUITE 304 | SOMERVILLE, MA 02145 PH 617 666 4446 | FAX 617 628 4002 | TTY 617 591 8917 | WWW.MASS.GOV/PERAC COMMONWEALTH OF MASSACHUSETTS | PUBLIC EMPLOYEE RETIREMENT ADMINISTRATION COMMISSION PHILIP Y. BROWN, ESQ., Chair

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I. Training Schedule Dates (pre-registration is required) Date Topic/Organization Location / Registration Information January 8 Open Meeting Law Webinar 10:00 a.m. AGO mass.gov/info-details/open- meeting-law-trainings
January 18 Contract Administration Webinar 10:00 a.m. PERAC/OIG tinyurl.com/PER-011824 January 21-22 NCPERS Communications Summit Washington, D.C.

NCPERS ncpers.org/pension- communications-summit January 22-24 NCPERS Legislative Conference Washington, D.C.

NCPERS ncpers.org/legislative-conference January 23 Open Meeting Law Webinar 4:00 p.m. AGO mass.gov/info-details/open- meeting-law-trainings February 7 Open Meeting Law Webinar 12:30 p.m. AGO mass.gov/info-details/open- meeting-law-trainings February 9 Boards and Commissions Webinar 9:00 a.m. OIG Academy tinyurl.com/OIG-0209 February 15 Preparing the Annual Statement Webinar
10:00 a.m. PERAC tinyurl.com/PER-021524 February 24-26 NASRA Winter Meeting Conference, Washington, D.C. NASRA nasra.org/meetings February 27 Open Meeting Law Webinar 6:30 p.m. AGO tinyurl.com/AGO-022724 March 6 Fraud Awareness Webinar 10:00 a.m. OIG Academy tinyurl.com/OIG-030624 March 21 New Administrator Training On site training, Norwood, MA 8:00 a.m. PERAC Register through PROSPER

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II. New Administrator Training Our 2023 series for new board administrators continues into 2024 in Norwood, Massachusetts. This all-day training is designed for newer administrators and board staff with less than five years of experience; however, board members are welcome. Should board members choose to attend, they will earn three educational credits.

Training information:
Four Points by Sheraton Norwood 1125 Boston Providence Turnpike, Norwood, MA 02062
March 21, 2024, 8:00 a.m. to 3:00 p.m.

Register through PROSPER. If an individual wishing to attend does not have access to PROSPER, please contact Rose Morrison at rose.a.morrison@mass.gov. Breakfast and lunch will be served. Please advise our staff if you need reasonable accommodations at least two weeks before the training date.

III. Conflict of Interest Online Training (three credits) The State Ethics Commission no longer offers live webinars for the Conflict of Interest Law training. With their new online training system, users must create a login to take the training and receive a certificate: • Go to mass.gov/how-to/complete-the-conflict-of-interest-law-education-requirements
• If your retirement system is not listed in the dropdown menu, please have your board contact the State Ethics Commission at ethicstraining@mass.gov. They will add organizations upon request.
• A certificate of completion is still required to receive credit for this training and credits may only be awarded once every two years.

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IV. Recently Added or Recurring Pre-Approved Online Training
(available on demand) Organization Topic How to find webinar: Office of the Inspector General Inspector General Videos
You must watch all three videos mass.gov/service- details/inspector-general- educational-videos
Office of the Attorney General Open Meeting Law Training You must watch all six videos mass.gov/service- details/open-meeting-law- training-videos
National Institute on Retirement Security (3 credits each) • The Risks and Opportunities of Investing in Emerging Markets • Cybersecurity Governance for Pension Funds in the Age of AI • Social Security | What’s Next and New Research • Measuring Pension Health mass.gov/service- details/perac-online-training PERAC Recent Cases of Interest 2023 mass.gov/service- details/perac-videos-webinars Massachusetts Office of the State Comptroller Cybersecurity for Retirement Boards PowerPoint Presentation

Note: this presentation is provided for reference only. It is not available for credit.
mass.gov/doc/cybersecurity- and-privacy-awareness-and- internal-controls-retirement- boards/download

Unless otherwise noted, board members can view the listed recorded webinars and receive three educational credits by completing a Training Affidavit in PROSPER.
Links to all of the above resources can be found on PERAC’s Education page at
mass.gov/perac-education.

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V. 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 2023, 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 • MA Office of the Inspector General (OIG) • National Association of State Retirement Administrators (NASRA) • National Conference on Public Employee Retirement Systems (NCPERS) • National Council on Teacher Retirement (NCTR) • National Institute on Retirement Security (NIRS) • National Pension Education Association (NPEA)