PERAC Memo #33 - 2024: Mandatory Retirement Board Member Training – 1st Quarter 2025

Memorandum Memorandum PERAC Memo #33: Mandatory Retirement Board Member Training - Q1/2025 Date: 12/31/2024 Referenced Sources: PERAC Website PERAC Memo #33 2024

To All Retirement Boards: TO: All Retirement Boards

FROM: Bill Keefe, Executive Director

RE: Mandatory Retirement Board Member Training – 1st Quarter 2025

DATE: December 31, 2024

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. 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. 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 IV 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 New Administrator Training series continues in Norwood in March. If you did not have an opportunity to attend the earlier trainings, join us for this final session. A new round of trainings will begin again in August in Northampton. As we look forward to 2025, the Commission would like to acknowledge all the retirement board members who made a good faith effort to fulfill their duties and responsibilities this year. Happy New Year!

I. Training Schedule Dates (pre-registration is required) Date Topic/Organization Location / Registration Information January 7 Open Meeting Law Webinar 12:30 p.m. AGO Register for webinar January 22 Preparing the Annual Statement Webinar 10:00 a.m. PERAC Register for webinar January 26-27 NCPERS Communications Summit Conference, Washington, D.C. NCPERS Register for conference January 27-29 NCPERS Legislative Conference Conference, Washington, D.C. NCPERS Register for conference January 29 Open Meeting Law Webinar 3:00 p.m. AGO Register for webinar February 5 Global Economic Forum Virtual Conference 1:00 – 4:30 p.m. NCTR Register for Conference February 10 Open Meeting Law Webinar 10:00 a.m. AGO Register for webinar February 20 Recent Cases of Interest Webinar 10:00 a.m. PERAC Register for webinar February 26 Open Meeting Law Webinar 12:00 p.m. AGO Register for webinar March 3-4 NIRS Retirement Policy Conference Conference, Washington, D.C. NIRS Register for the conference March 11 Open Meeting Law Webinar 10:00 a.m. AGO Register for webinar March 18 Open Meeting Law Webinar 6:30 p.m. AGO Register for webinar March 19 Cybersecurity Register for webinar 1:00 p.m. PERAC Register for webinar March 26 New Administrator Training Training, Norwood, MA 8:00 a.m. PERAC Register for training Date Topic/Organization Location / Registration Information

II. New Administrator Training (three credits) Our current series for new board administrators continues in March 2025, in Norwood. This will be the same training that was held earlier this year in Northampton and Danvers. 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. The agenda is available on our website. We will start a new series next August in Northampton.

Training information: Four Points by Sheraton Norwood
1125 Boston Providence Turnpike, Norwood, MA 02062

March 26, 2025, 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. Lunch will be served. Please advise our staff if you need reasonable accommodations at least two weeks prior to the training date.

III. Recently Added or Recurring Pre-Approved Online Training (available on demand) Organization Topic How to find webinar: Inspector General Inspector General Videos You must watch all three videos View the inspector general videos Attorney General Open Meeting Law Training You must watch all six videos View the attorney general videos State Comptroller Cybersecurity for Retirement Boards PowerPoint Presentation

Note: this presentation is provided for reference only. It is not available for credit

Download the presentation State Comptroller All Hands on Deck Cyber Webinar View the webinar PERAC Legislative Update Webinar View the webinar Organization Topic How to find webinar: 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.

IV. Conflict of Interest Online Training (three credits) The State Ethics Commission no longer offers live webinars for the Conflict of Interest training. With their new online training system for the Conflict of Interest Law, users must create a login to take the training and receive a certificate.

To create a login and take the training, go to: mass.gov/how-to/complete-the-conflict-of-interest-law-education-requirements

If you want to take the training and your retirement system is not listed in the dropdown menu, please have your board contact the State Ethics Commission: 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.

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 2025, 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)