On April 1, 2014, seasoned OMERS executive Michael Latimer took the reins as President and Chief Executive Officer following the retirement of Michael Nobrega – the culmination of a succession planning process that began in 2010.
In 2013, the OMERS Primary Pension Plan (the Plan) achieved a 6.53% gross return, generated $4 billion in total investment income and reduced its funding deficit by $1.3 billion to $8.6 billion.
Both the OAC and SC Boards welcome new members in 2014.
A study, conducted by the Boston Consulting Group (BCG), revealed that retirees with a defined benefit (DB) pension like OMERS are less likely to rely on government assistance and collect the Guaranteed Income Supplement.
OMERS is moving to more direct delivery of services to provide members more choices and more online options in the future, while simplifying processes for employers. This year marks a milestone: it's the first year we will deliver all Pension Reports directly to members. Previously, employers provided addresses each year or delivered the reports for us.
OMERS employers now have the option to offer OMERS members the ability to make automatic contributions to their AVC account through an AVC payroll deduction option.
Catch up on important dates, news, tips and guidelines regarding OMERS administration.