* The employer should only deduct the full amount indicated on the AVC Employer Payroll Deduction Report. If the member has no pay or not enough pay during a particular pay period, the employer should not apply a deduction at all ($0). The employer will need to report this in the “notes” section of the AVC Employer Payroll Deduction Confirmation Report, as an adjustment, to OMERS. Employers who have more than one payroll for AVC payroll deduction purposes should contact OMERS for additional remittance information.
|Remittance for member
||As authorized by the member or $0*
|Order of Priority
||OMERS required contributions take precedence over AVC deductions
|Method of remittance to OMERS set up in advance of 1st AVC employee deduction:
||Electronic Fund Transfer – see below
National Direct Deposit Service – see below
|Frequency of remittance
|Date of remittance (all months except December)
||Within 3 business days of deduction being taken from employee pay
|Date of remittance (December)
||The earlier of within:
- 3 business days of the deduction being taken from employee or
- 3 business days of the calendar year end
|Relationship to Required Contributions (Form 105)
||Independent from contributions for the defined benefit provision of the Plan
** For employers who have more than one payroll for AVC payroll deduction purposes, there must be a monthly remittance for each payroll.
Electronic Fund Transfer (EFT)
Send an email to OMERS Pension Accounting Department (email@example.com) requesting AVC payroll deduction EFT set-up instructions.
National Direct Deposit Service (NDDS)
Complete and forward an AVC Employer Payroll Deduction Direct Deposit (NDDS) Registration Form to OMERS – located in the employer/forms section of the OMERS website
Both EFT and NDDS are set up for an account that differs from the one used to accept contributions to the defined benefit provision of the Plan (i.e. required contributions and employer matching as set out on Form 105).