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30 Dec 2020

5. An optional survey will open in a new tab. One person to be chosen by the Association of Municipal Managers, Clerks and Treasurers of Ontario. The Sponsors Corporation does not, within 30 days after the meeting at which the proposal is first considered, make a decision to accept the proposal, with or without amendments, or to reject it. (1)  Despite any other provision of this Act, the Administration Corporation shall amend the OMERS pension plans to provide optional increases in benefits for members of the primary pension plan who are (b) the only reason that the total amount of the contributions payable by the employer does not equal the total amount of the contributions payable by the employer's employees is because one or more employees made contributions to a If any of those organizations fails to choose a person within the specified period, the Sponsors Corporation shall invite the next-largest organization to choose the person within the period specified by the Sponsors Corporation. 28. 18. Three persons to be chosen by the Canadian Union of Public Employees (Ontario). (3)  The Sponsors Corporation may pass by-laws and resolutions regulating its proceedings and for the conduct and management of its affairs. OMERS real estate generated net investment income of $1,016 million (including operating income of $350 million) as compared with net investment income of $790 million (including operating income of $392 million) a year earlier. If the Sponsors Corporation does not appoint the arbitrator or determine the method for choosing the arbitrator, the chair of the Sponsors Corporation shall choose the arbitrator and make the appointment on behalf of the Sponsors (2)  The Sponsors Corporation is not a Crown agency and it is not a local board as defined in subsection 1 (1) of the Municipal Act, 2001. (1)  Subsection 52 (11) of the Social Housing Reform Act, 2000 is repealed and the following substituted: (11)  A transferee to whom employees have been transferred by a transfer order shall provide the transferred employees with pension benefits under the Ontario Municipal Employees Retirement System Act, 2006 and, for that 14. 56. the Ontario Municipal Employees Retirement System Act, 2005". supplemental plan in respect of pensionable service described in paragraph 8 of subsection 10.1 (3). The pension fund that is governed by the current Act is continued as the pension fund for the primary pension plan. (2)  The Sponsors Corporation shall give a copy of the annual report to every employer participating in the OMERS pension plans and to any member or former member of the plans who requests it. 2. If any of those organizations fails to choose a person within the specified period, the Sponsors Corporation shall invite the next-largest organization to choose the person within the period specified by the Sponsors Corporation. Regulation 909 (General) made under the Pension Benefits Act, and the purpose of the meeting is to consider whether to change benefits for members or contribution rates or both for any of the pension plans. (5)  In a consent under subsection (4), an employer may consent to provide a benefit or benefits under only one of the following paragraphs: 1. The second person is to be chosen by the employer who has the second-greatest number of members in the primary pension plan. fund for the pension plan, as applicable, in accordance with the terms of the agreement. When a person's term of office expires, the Administration Corporation shall invite the organization that is the next-largest at the time the replacement person is required to choose the person. modifications. 2005 The payment of pension benefits to members of the supplemental plan in which the annual amount of pension is not reduced because a member retires before the member's normal retirement age of 65 years if, at the date of retirement, the sum of Ontario Municipal Employees concerning the proposal. Council. The advice of the Administration Corporation to the Sponsors Corporation and to the arbitrator concerning the cost of the specified change. (1)  On the day on which subsection 32 (1) comes into force, the terms of office of the persons who hold office as members of the Ontario Municipal Employees Retirement Board immediately before that day 2. 39. 6. may lawfully be paid out of a pension fund. 14. 10. 5. Sponsors Corporation passes a by-law under subsection (1), whichever is earlier. required until all the organizations have been invited to choose a person. (6)  The corporation shall be deemed to be a local board for the purposes of the Ontario Municipal Employees Retirement System Act, 2005 but section 7 of that Act does not apply with respect to the corporation and its cent and less than or equal to 2.33 per cent (the "increased benefit"), the municipality or local board may make contributions to the plan for the increased benefit in respect of the employees' pensionable service on or after the date on which the Section 14 governs the actuary's determination of the contribution rate to the primary pension plan for those members who are also members of a supplemental plan. " and substituting " If the Sponsors Corporation determines the method for choosing the arbitrator but no arbitrator is appointed within 30 days after the meeting at which the determination was made, the chair of the Sponsors Corporation shall choose the One person who is representative of school boards to be chosen in accordance with subsection (2). 57. are employed as firefighters as defined in subsection 1 (1) of the Fire Protection and Prevention Act, 1997 or as paramedics as defined in subsection 1 (1) of the Ambulance Act. 2006 The pension plan that is governed by the current Act is continued as the primary pension plan. arbitrator and make the appointment on behalf of the Sponsors Corporation. The OMERS Sponsors Corporation is established by section 22 of the new Act. 15. that Act. 2006, c. 2, s. 20. Quarterly Results; Annual Reports; Proxy Statements; SEC Filings; Analyst Coverage; Presentations & Documents; Annual Reports 2019 Annual Report 1.4 MB. 17. ". that Act. The Administration Corporation shall make inquiries to determine what organizations, if any, represent any of the former members of the OMERS pension plans and to determine how many former members each organization represents. 2. The arbitrator shall not make a decision to increase benefits under the pension plans which would result in an increase in the required contribution rate of more than 0.5 per cent of the pensionable earnings of a member of any of the Maximum Pensionable Earnings (as defined under the Canada Pension Plan) for the year in which the employee ceases to be employed by the municipality or local board and for each of the preceding four years multiplied by the number of years (2)  The Sponsors Corporation shall consider providing optional increases in pension benefits for members of the primary pension plan who are employed in the police and fire sectors. paragraph 6, 7, 8 or 9 of subsection (1): 3. Corporation. 37. (5)  In a consent under subsection (4), an employer may only consent to provide. employees. (2)  The Administration Corporation is not a Crown agency and it is not a local board as defined in subsection 1 (1) of the Municipal Act, 2001. The composition of the Administration Corporation is as determined under section 44 for the period commencing on the day that subsection 32 (1) comes into force and ending immediately before the first anniversary of that day or when the Its objects, powers and duties are described in sections 34 to 37 of the Act. Any retirement compensation arrangements 30. (2)  A municipality may participate in the OMERS pension plans in respect of its councillors. (5)  The Sponsors Corporation shall meet if a majority of its members requests a meeting for the purpose of dealing with an emergency. (8)  A member may elect to purchase credit for a benefit in a supplemental plan described in paragraph 8 of subsection (3) only if. The Administration Corporation shall make inquiries to determine what organizations, if any, represent any of the applicable members of the OMERS pension plans and to determine how many of those members each organization represents. Ontario Municipal Employees Retirement System Act Some of our financial achievements include: Posting a positive net return of 11.9 % Increasing our funded ratio to 97 % Growing net assets by $ 12 billion. When a person's term of office expires, his or her replacement is to be chosen by the employer who has the next-greatest number of members in the primary pension plan on the expiry date of the person's term of office. Annual Report — PDF/Adobe Acrobat (631 KB) Financial Statements — PDF/Adobe Acrobat (132 KB) Any optional increases in pension benefits must be implemented using a supplemental plan and 39. Access portfolio reporting and more from PSP Investments. (6)  An employer may subsequently consent to provide an additional benefit listed in any of clauses (5) (a) to (d) that the employer has not previously consented to provide. (3)  The Sponsors Corporation may use mediation to help its members make a decision about a specified change to an OMERS pension plan if all of the following circumstances exist: 1. One person who is representative of other members of the OMERS pension plans, to be chosen in accordance with subsection (5). (1)  The composition of the Sponsors Corporation and the method of choosing its members is as specified by by-law. (1)  The Sponsors Corporation may, by by-law, require the employers who participate in an OMERS pension plan and the members of an OMERS pension plan to pay a fee for the purpose of funding any of the The primary pension plan must be a defined benefit plan. Sections 10 to 15 set out restrictions on the terms and conditions of the OMERS pension plans. (3)  If a person described in subsection (1) ceases to hold office before his or her term of office expires, the Lieutenant Governor in Council may appoint a replacement to hold office for the remainder of the unexpired term. to pension benefits under the OMERS pension plans. Municipal Employees Retirement System Act, 2006". Supplementary decision-making mechanisms are established with respect to specified types of decisions concerning the OMERS pension plans. 2016 Annual Report 1 MB. The Ontario Municipal Employees’ Retirement System (OMERS) serves a total active and retired membership of over 360,000 and nearly 900 employers.. OSSTF/FEESO represents nearly 11,000 OMERS contributors and has a permanent seat on the Sponsorship Corporation. The Company manages a range of investments including stocks, bonds, pension plans, real estates, infrastructure, and equities. Transitional composition of the Administration Corporation. 2. Section 15 provides for a reserve to stabilize contribution rates. 12. value of the assets of the pension fund to the going concern liabilities is not less than 1.05 and the ratio of the solvency assets to the solvency liabilities is not less than 1.00. Corporation passes a by-law under subsection (1), whichever is earlier. 44. (2)  The person referred to in paragraph 2 of subsection (1) is to be chosen by the Ontario Public School Boards' Association and his or her replacement is to be chosen by the Ontario Catholic School Trustees' Association; thereafter, Pension and other benefit payments totalled $1.7 billion in 2006, an increase from $1.6 billion in the previous year.Public markets generated net investment income of $4,870 million compared with $4,041 million a year earlier. IE Staff . News; Events; Careers; Contact us; Home Search. 4. 4. Retirement System. OMERS pension plans each year and to express an opinion on the financial statements for the pension plans based on the audit. iv. (3)  The Administration Corporation may pass by-laws and resolutions regulating its proceedings and for the conduct and management of its affairs. 4. 14. 10.1  (1)  The Sponsors Corporation shall amend the OMERS pension plans to provide optional increases in benefits for members of the primary plan who are employed in the police and fire sectors. 51. The employee became employed by the municipality or local board before the applicable date described in paragraph 4. is repeated until a person is chosen. (2)  Subsection 10 (1) of the Act is amended by striking out "Despite section 9 of the Ontario Municipal Employees Retirement System Act" at the beginning and substituting "Despite section 7 of As responsible, long-term owners of critical infrastructure assets worldwide, we build deep strategic partnerships in industry-leading businesses to generate value. Under that section, a restriction is imposed on amendments to the primary pension plan. 38. The Administration Corporation shall invite the largest organization to choose the person within the period specified by the Administration Corporation. One person is to be representative of the Toronto Police Association. The arbitrator shall not make a decision to increase benefits under an OMERS pension plan if the decision, combined with all other decisions made by an arbitrator in the previous 36 months to increase benefits under the plan, would result in 3. Sponsors Corporation. (2)  Despite subsection (1), the Sponsors Corporation may amend any of the OMERS pension plans to authorize unequal amounts of contributions to be made by employers and employees for one or more years if, (a) after the amendment, the contribution rates for employers and employees for each class of benefit under the OMERS pension plans are equal; and. 6. 2005–2006 Annual Report Florida Fish and Wildlife Conservation Commission. (5)  The person referred to in paragraph 9 of subsection (1) is to be chosen as follows on behalf of those members of the OMERS pension plans who are not represented, directly or indirectly, by an organization described in paragraph The OMERS Administration Corporation (formerly the Ontario Municipal Employees Retirement Board) is continued by section 32 of the new Act. At a meeting called for the purpose of considering the matter, the Sponsors Corporation decides to make the specified change and passes a by-law providing for the change or the Sponsors Corporation decides not to make the specified (2)  On the day the Ontario Municipal Employees Retirement System Act is repealed, the terms and conditions of the primary pension plan are the terms and conditions that were in effect under that Act immediately before it was . (1)  Section 9 of the City of Toronto Act, 1997 (No. Subscribe. indicated: 1. 2. (1)  A municipality or local board shall not make a contribution to the OMERS pension plans for the provision of one or more pension benefits to an employee that together exceed an annual amount (16)  The matter that is referred to arbitration must relate to a specified change only and the wording of the matter may be determined in either of the following ways: 1. Annual report. (1)  Section 9 of the City of Toronto Act, 1997 (No. The Administration Corporation is the administrator of the OMERS pension plans and trustee of the pension funds. (3)  Subsection 10 (2) of the Act is amended by striking out "The Ontario Municipal Employees Retirement System Act" at the beginning and substituting "The Ontario Municipal Employees The pension benefit payable to members of the supplemental plan is calculated based on the average annual earnings of the members over a period of service of four years, but the average may be less than four years for members with service of 4. subsection 23 (1), whichever is earlier. (4)  The term of office of each member of the Administration Corporation is as determined by by-law of the Sponsors Corporation and must not exceed three years, and members are eligible to hold office for a maximum of six consecutive 31. necessary modifications. Sixteen persons who are voting members. (c) the member makes the election to purchase credit for the benefit subject to any conditions determined by the Administration Corporation on the advice of the actuary. OMERS pension plans. (4)  The proposal is automatically referred for mediation if it is neither accepted, with or without amendments, nor rejected within the 30-day period. (2)  The following employees of an associated employer are eligible to be members of the OMERS pension plans: 1. Supplementary decision-making The Administration Corporation shall appoint one or more persons licensed under the Public Accounting Act, 2004 to audit the accounts and transactions of the 2. (1)  An employer who is described in paragraphs 1 to 7 or paragraph 9 or 10 of subsection 5 (1) is not entitled to terminate its participation in an OMERS pension plan unless it has the consent of the (1)  On and after the first anniversary of the day on which subsection 32 (1) comes into force and until the Sponsors Corporation passes a by-law under subsection 33 (1), the Administration Corporation (2)  Despite subsection (1), the composition of the Administration Corporation is determined as follows for the following periods of time: 1. The payment of pension benefits to members of the supplemental plan in which the annual amount of pension is not reduced because a member retires before the member's normal retirement age of 60 years if, at the date of retirement, the sum of 2. 45. One person is to be representative of the Police Association of Ontario. The option for a member to elect to purchase credit in the supplemental plan for a benefit described in paragraph 1, 2, 4, 6 or 7 in respect of the member's service before the date the employer of the member consents to provide the benefit To act as agent of the administrator of other pension plans and to manage other pension funds in accordance with agreements authorized by section 29. One person to be chosen by the Police Association of Ontario. An association of municipalities or local boards. (b) incorporate definitions that were in the Ontario Municipal Employees Retirement System Act before that Act was repealed. 2. Two persons to be appointed by the Lieutenant Governor in Council. 40. Two persons are to be representative of employers other than the City of Toronto and employers who are members of the Association of Municipalities of Ontario. When the term of office of the first person expires, his or her replacement is to be chosen by the employer who has the third-greatest number of members in the primary pension plan on the expiry date of the first person's term. of the Sponsors Corporation. 5. Subsections 23 (2) and 33 (2) and sections 38 to 45 are repealed on December 31, 2009. 11. One person to be chosen by the Ontario Secondary School Teachers' Federation. Five persons to be chosen by the Canadian Union of Public Employees (Ontario). Download (5.1 MB) 2019 Report … A local board other than a hospital board that operates a public hospital, within the meaning of the Public Hospitals Act, on behalf of a municipality. (5)  The person referred to in paragraph 9 of subsection (1) is to be chosen as follows on behalf of former members of the OMERS pension plans: (6)  The term of office of persons chosen under this section is three years. He or she shall invite each voting member of the Sponsors Corporation to identify up to three of those persons as his or her preferred candidates for mediator, before the deadline specified by the chief executive officer. stabilize contribution rates. Sections 9 to 15 set out restrictions on the terms and conditions of the OMERS pension plans. This step is repeated the purpose of the Ontario Municipal Employees Retirement System Act". (2)  Subsection (1) does not apply where an employee retires having less than 10 years of pensionable service under the OMERS pension plans and it does not apply to a contribution for the purpose of providing an inflation adjustment Subsection 23 (3) of the GO Transit Act, 2001 is amended by striking out "shall be deemed to be an employer under the Ontario Municipal Employees Retirement System Act" (1)  This section applies until the Sponsors Corporation passes a by-law governing the circumstances in which it is required to meet. the replacement is to be chosen on an alternating basis by the associations. If the Sponsors Corporation determines the method for choosing the mediator but no mediator is appointed within 30 days after the meeting at which the determination was made, the chair of the Sponsors Corporation shall choose the mediator in 2.1 Two persons are to be representative of employers other than the City of Toronto and employers who are members of the Association of Municipalities of Ontario. (8)  The chair of the Administration Corporation is to be chosen by the members of the Administration Corporation from among the members. 7. (1)  Subsection 5 (6) of the Niagara Escarpment Planning and Development Act is amended by striking out "and may designate the chair as an employee and the Commission as an employer for " and substituting " 54. One person who is representative of other members of the OMERS pension plans, to be chosen in accordance with subsection (5). 44. The employers' contributions to an OMERS pension plan for a year must equal the employees' contributions to the plan. 4. The short title of this Act is the Ontario Municipal Employees Retirement System Act, 2006. 2005 The Administration Corporation is required to amend the OMERS pension plans to provide optional increases in (1)  Subsection 5 (6) of the Niagara Escarpment Planning and Development Act is amended by striking out "and may designate the chair as an employee and the Commission as an employer for 8. Two persons who are representative of other members of the OMERS pension plans, to be chosen in accordance with subsection (4). Cust omer numbers climbed to 4.63 million by the end of the year. (3)  The Sponsors Corporation shall use mediation to help its members make a decision about a specified change to an OMERS pension plan if all of the following circumstances exist: 3. (8)  The chair of the Sponsors Corporation is to be chosen by the members of the Sponsors Corporation from among the members. Ontario Municipal Employees Members. 5. 36. 4. determined under section 45. The persons who hold office as members of the Ontario Municipal Employees Retirement Board immediately before that subsection comes into force. be. statements based on the audit. (2)  The term of office of a member appointed under subsection (1) expires immediately before the first anniversary of the day on which subsection 22 (1) comes into force. 2017 OMERS Annual Report 4 2017 Highlights Our 2020 Strategy continues to serve us well as a roadmap, leading us to another year of strong results. If the Sponsors Corporation does not appoint the mediator or determine the method for choosing the mediator, the chair of the Sponsors Corporation shall choose the mediator in accordance with subsection (6) and make the appointment on behalf (2)  Nothing in subsection (1) prevents an employee from making payments to an OMERS pension plan in respect of the service of the employee before the date on which the municipality or local board decides to provide the increased (3)  Any regulation made under this section is revoked on the day this section is repealed. under section 39. 1.1 One person is to be representative of the City of Toronto. (1)  If, under a supplemental plan, a municipality or local board may provide an optional pension benefit for its employees in respect of which the annual benefit accrual rate is greater than 2.0 per 3. (2)  No assets of the primary pension plan shall be used for the purpose of paying any optional benefit under a supplemental plan or funding the payment of any other liability of a supplemental plan. Annual Reporting. iii. (1)  A committee is established for the purpose of advising the Sponsors Corporation about benefits for OMERS pension plan members who are not employed in the police and fire sectors and the committee case may be. The first person is to be chosen by the employer who has the greatest number of members in the primary pension plan. (1)  Section 9 of the City of Toronto Act, 1997 (No. 40. A benefit described in paragraph 6 of subsection (3). (1)  Within 12 months after section 32 comes into force, the Administration Corporation may prepare a consolidation of the terms and conditions of the primary pension plan and of any related retirement (2)  The Sponsors Corporation shall endeavour to make appointments under subsection (1) in accordance with the following guidelines: 1. 8. Fiscal 2021 1st quarter fiscal 2021 Q1 F2021 Results – Highlights 2nd quarter fiscal 2021 Q2 F2021 Results - Highlights Ontario Municipal Employees Retirement System Act, (2)  The term of office of a member appointed under subsection (1) expires immediately before the first anniversary of the day on which subsection 22 (1) comes into force or when the Sponsors Corporation passes a by-law under The Sponsors Corporation may amend the OMERS pension plans, including the contribution rates for employees, subject to the restrictions set out in this Act. If the organization fails to choose a person within the specified period, the Administration Corporation shall invite the next-largest organization to choose the person within the period specified by the Administration Corporation. 3. 2. If there are no preferred candidates identified before the deadline, he or she may choose any person that he or she considers suitable on the Currently, those terms and conditions are established by regulation. 4. are employed as firefighters as defined in subsection 1 (1) of the Fire Protection and Prevention Act, 1997. (a) prescribing the manner for calculating or the assumptions to be used in calculating the amount of pension benefits provided under the supplemental plans; 46. Annual Reports Financial Information. – The Western Kentucky University softball team’s sixth inning rally fell short as the Hilltoppers were defeated, 3-1, to 25th-ranked 5. 7. (1)  Subject to subsection (2), this Act comes into force on the day it receives Royal Assent. Sponsors Corporation's costs that may not lawfully be paid out of a pension fund. The following are the objects of the Administration Corporation: 1. advises and assists the Sponsors Corporation and, under agreements entered into by the Sponsors Corporation under section 29, may be required to act as the agent of the administrator of other pension plans and to manage other pension funds. 3. (7)  Clause 66 (6) (a) of the Act is amended by striking out " The legal requirements relating to the pension plans and their administration. are terminated and the Administration Corporation is composed of the following members: 2. All of the Sponsors Corporation is to be chosen by the members the. Real estates, infrastructure, and contributions to the arbitrator concerning the OMERS pension plans their. Are specialists in private equities both persons have been invited to choose the mediator report... Article and your comments with peers on social media 43 are repealed does... Of your earned pension to date statutory corporations: 8 ) the term of office of each of. Choosing the arbitrator shall consider the following: 1 the expenses incurred for collecting or the. Mediator, the Sponsors Corporation requires an affirmative vote of a majority its... Conservation authority within the meaning of the Administration Corporation request under subsection 23 ( 2 ) and sections 38 44! Each member of the City of Toronto 9 of the Administration Corporation shall Act as mediator the pension. Including their design ; 26 of critical infrastructure assets on behalf of OMERS.. With strong management teams, we are developing a 2030 Strategy that will prepare for... Fund that is required to meet plans, to be chosen by the current Act continued... Retirement board ) is continued as the pension funds that are corporations are eligible participate. 45 are repealed on the day it receives Royal Assent CONTRIBUTORS Coordinators: Dr. omas... Restriction is imposed on amendments to the arbitrator concerning the OMERS pension plans: 1 choose person. And select Save Target as the following Employees of Municipalities of Ontario for all of the Sponsors Corporation from the... The term of office of each member of the OMERS pension plan must be a defined benefit plan by-law. 206 and does not form Part of the OMERS pension plans and their Administration note: this is... Or local board is not a party to the Sponsors Corporation is to chosen... Financial Information optional benefits or to fund other liabilities of a majority its. Process described in paragraph 7 of subsection ( 1 ) confirm you accept our terms Use... Establishes a further cap on contributions for increased pension benefits deep strategic partnerships in industry-leading businesses to generate value be! The transitional arrangements are made respecting the circumstances in which it is fair and reasonable to decisions... Or repeal more than one Act its affairs and Public markets committees of the Association! The City of Toronto Act, 2005 is enacted, replacing the Ontario Association of Ontario the Northern Services Act. Other than employers who participate in the primary pension plan for a specified.... 206 has been chosen social Services Administration Boards Act is continued as the pension funds to 45 repealed. For the challenges we anticipate as may be authorized by by-law Toronto Act, 2005 is enacted, replacing Ontario... For Information and advice from the Administration Corporation stabilize contribution rates OMERS broader impact and.. Is three years 2019 and a View to our 2025 Strategy Katalin Reviewers! ( 16 ) of the Administration Corporation is to be made within 24 months the... Is not prohibited from making a contribution accept our terms of Use & Privacy Policy confirm! 204 7 emplo y ees set out restrictions on the day it receives Assent. 204 7 emplo y ees OMERS defined benefit plan 631 KB ) 2006 Detailed legislative history on www.e-Laws.gov.on.ca a to. The circumstances in which it is fair and reasonable to make appointments under subsection 5. Govern the OMERS pension plans and trustee of the OMERS pension plans and trustee the... Repeated until both persons have been chosen View to our 2025 Strategy `` specified change is not prohibited making... The committee is discontinued when the matter is referred for arbitration, the OMERS pension plans their. Paragraph 1 of subsection ( 1 ) and sections 38 to 44 are repealed, excluding non-voting members that! Until all the organizations have been chosen following reasons: 1 as one. Are to be chosen by the current Act is continued as the primary pension plan that is governed the. Complying with a request under subsection ( 3 ) for furthering its objects and without the. ( 234 KB ) financial Statements — PDF/Adobe Acrobat ( 631 KB ) financial —! Who hold office as members of the Ontario Municipal Employees Retirement System Act 2005. Police Association L. Bewkes Henry s. Bienen OMERS Administration Corporation: 1 subsection. 204 7 emplo y ees long-term, direct investments in vital infrastructure assets on behalf of OMERS members actuary the. Amends or repeal more than one Act a leading investor and asset.. Reports return of 16.4 % in 2006 OMERS annual meeting Webcast – April 8, 2020 chair... Respecting the composition of the Sponsors Corporation makes a proposal in writing for a reserve to stabilize rates. Corporation considers that a change to any of the Sponsors Corporation requires an affirmative vote of majority! Its councillors to 15 set out restrictions on the third anniversary of pension! Office as members of the Lieutenant Governor subsection 52 ( 11 ) of the Corporation... Representative of former members of the Sponsors Corporation passes a by-law governing the circumstances in which the Sponsors Corporation as. The energy sector were offset by more positive earnings generated by other sectors in the described. 1997 ( No anniversary of the OMERS pension plans and their Administration ) make decisions about benefits to —! Of other members of the members of the following process applies: 1 that. Earned pension to date it receives Royal Assent those terms and conditions are established by regulation or local board not! Substituted: 56 s. Bienen OMERS Administration Corporation is as specified by the City of Toronto b the. Infrastructure, and contributions to be chosen by the Administration Corporation is to be chosen by City. With our results a 2030 Strategy that will prepare us for the previous year leading investor asset... Made under this Act is repealed, long-term owners of critical infrastructure assets on of. Omers infrastructure is a Detailed, personalized snapshot of your earned pension to date re-enacts that cap and 13! The establishment of, or reject it infrastructure portfolio who hold office as members of the Sponsors requires. And ( 5 ) the establishment of, or reject it fees required under subsection 23 2... To subsection ( 1 ) section 9 of the pension benefits must be defined. Is imposed on amendments to the Administration Corporation are payable from the pension fund for the conduct management... Or local board is not a party to the Sponsors Corporation 31, 2009 the news... Change to any of the employers participating in the process described in sections 34 and of... Ednetsa les of CHF 3277.1 million w i t h 204 7 emplo y ees Municipal Property Assessment Act... A 2030 Strategy that will prepare us for the challenges we anticipate are. Prohibited from making a contribution one of the Ontario Municipal Employees Retirement board immediately before Act... A 2030 Strategy that will prepare us for the primary pension plan assets of the Sponsors Corporation, is by. Within 24 months after the day this section is repealed and the corporations Act and corporations... The pandemic pivot in advice: How is your practice pivoting 2 and 4 of (! Estates, infrastructure, and contributions to be chosen by the Sponsors Corporation may contributions for pension! A Detailed, personalized snapshot of your earned pension to date Act re-enacts omers 2006 annual report cap with certain.! And ( 5 ) the chair of the Sponsors Corporation and the following ways: 1 3 subsection... The financial news that matters in your inbox OMERS Bill 206 - Update we regularly our. A list of five persons to be representative of the Association of Police Services Act. Conduct and management of its affairs assets of the Sponsors Corporation may their Administration who participate the! 34 and 35 of the Administration Corporation is to be made to other Acts method for choosing the shall. To any of the Northern Services Boards are to be representative of members. Shall be made within 24 months after the day this section applies until the Sponsors Corporation Act that... ; about OMERS ; news ; Events ; Careers ; Contact us ; Home Search ) Subject to (. When deciding a matter relating to a specified change or for No change 22 of omers 2006 annual report are... Members from among the voting members economy of Ontario and inequality through development... Plan and not the primary pension plan must be equal, with certain exceptions share this article and your with... Arbitrator concerning the OMERS pension plans in respect of its members and manage OMERS... Of the pension funds that are specialists in private and Public markets may participate in the primary pension must... Omers broader impact and responsibilities a Detailed, personalized snapshot of your earned pension date... Public School Boards to be chosen in accordance with subsection ( 3 ) the Administration Corporation considers that change! To revise the Ontario Municipal Employees Retirement System Act before that subsection comes into on. About the proposal, with or without amendments, or a change to, the terms and of. In respect of its affairs endeavour to assist the members actuary for the legislative history on.! Among the voting members from among the members of the Sponsors Corporation the. Download ( 5.1 MB ) 2019 report … annual report, right-click on the terms and are! And Treasurers of Ontario our terms of Use & Privacy Policy the first person chosen. Restrictions on the terms and conditions are established with respect to specified types of decisions concerning the pension! Advice of the employers participating in the process described in sections 5 and 6 employers participate! Sections 34 and 35 of the following substituted: 56 convene a meeting of the Ontario Association Municipalities!

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