How Do I Satisfy The Annual Trustee Training Requirements?
In 2009 the Illinois legislature passed two laws requiring a total of 16 hours of annual training for Downstate Police and Fire pension trustees, 8 hours more than trustees that sit on other public pension funds. Eight hours of this training is mandated to include the topics of ethics, fiduciary responsibilities and investments, not 8 hours on each topic as some believe. The type of training for the second eight hours is decided on by each board as to what is relevant and available to each board.
Don’t forget that another aspect of the 2009 legislation was the requirement that all trustees elected or appointed after August 13, 2009 were required to obtain 32 hours of Certified Trustee training within 18 months of election/appointment. This training must be a 32-hour Trustee Certification course, hours obtained attending 8 or 16 hour seminars or conferences cannot be combined to satisfy the 32 hour certification requirement. The IPPFA offers this training as well several times a year throughout the state. Taking the 32-hour class will satisfy the 32 hour requirement and the 16 hour requirement. Certificates will only be issued after completion of all 32 hours. So as can be seen the training is easily obtainable and available to all pension trustees. Seminars, conferences and available training is updated regularly on the IPPFA website.
IPPFA conferences and seminars are available to non-IPPFA members at additional cost. Save money and join the IPPFA today. Go to www.ippfa.org or call 630-784-0406 for membership information.