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Employer News 59 - October 2012

Getting Questions? We Have Answers.

Chief Pension Officer, Jennifer Brown, wants employers to know about the services and tools we offer to help administer the Plan, as well as some key facts about OMERS.

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2013 Contribution Rates and Plan Changes Recap

OMERS Sponsors Corporation (SC) approved contribution rate and benefit changes in a meeting on June 28, 2012. The SC also approved a new method for allocating contribution rates in the future, and decided to file the December 31, 2011 valuations for the OMERS Primary and Supplemental Pension Plans.

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2010 SC Plan Benefit Changes Recap

In 2010, the OMERS SC Board approved benefit calculation changes that will affect members who terminate employment and who are not yet eligible for an early retirement pension. These members will no longer have pre-retirement indexing and early retirement subsidies included in the calculation of their benefits based on service earned post-2012.

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OMERS Board Makes Submission to Reviewer

On September 4, the OMERS Administration Corporation’s (OAC) Board of Directors publicly released its formal submission to Mr. Tony Dean. Mr. Dean was appointed by the Ontario government to review OMERS governance model in accordance with the OMERS Review Act, 2006.

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OMERS Investment Portfolio Grows

In 2012, OMERS talented investment team added to OMERS growing investment portfolio with its first Global Strategic Investment Alliance (GSIA) deal, an ownership stake in HootSuite Media Inc., and the acquisition of Lifeways in the UK.

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E-Form 119 - It’s All About OMERS Members

Greater Sudbury Hydro Plus Inc. is an e-Form 119 success story. Why the e-Form 119 process works well for Sudbury Hydro comes down to two factors: their skilled staff and OMERS training and online tools.

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Administration Manual Helps with...

In Spring 2012, Ontario’s pension regulator, the Financial Services Commission of Ontario (FSCO) updated their policy on how employers must offer enrolment to other-than-continuous full-time (OTCFT) employees who become eligible to join the OMERS Primary Pension Plan (the Plan).

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Check Your OMERS Print Materials

Periodically check to make sure that any OMERS print materials you stock for your members, such as member handbooks, are up to date.

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