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.

The IDOI has made a ruling that all the training must be completed by August 12th of each year. To satisfy these requirements the IPPFA offers several ways to obtain the training:
  • Attend the annual IPPFA MidAmerican Pension Conference and receive all 16 hours (registration fee required*)
  • Attend the annual IPPFA Illinois Conference and receive all 16 hours (registration fee required*)
  • Attend IPPFA Regional Seminars that will satisfy the 8 hours of ethics, fiduciary and investment responsibilities (registration fee required*)
    If a trustee can’t attend a seminar, they can take advantage of the 8 hour IPPFA eLearning on-line training that also satisfies the three requirements (registration fee required*)
  • OK, but what about the second 8 hours? Well, IPPFA members can log onto the IPPFA website and click on “Members Center” and then click on “Presentations”. There trustees will find Power Point presentations and videos from past IPPFA conferences and seminars that can be reviewed. Trustees can then document the titles and time spent reviewing these presentations in the board meeting minutes. There is more than enough information available to satisfy the second 8 hours (FREE and IPPFA membership required)
  • If a trustee is employed in the private sector and requires training for their employment the training received for that employment can also apply to the requirements for trustees.

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.

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