In October 2017, the OMERS Sponsors Corporation (SC) began direct consultation with Sponsors. This conversation began with sponsors because of the role they play in the governance of the OMERS plan. Sponsors nominate members of both the OAC and SC Boards, and the SC Board is responsible for the design of the Plan. The goal of the consultation is to ensure – given the realities that OMERS faces – that the Plan remains sustainable, meaningful and affordable for both members and employers.
The OMERS SC has communicated extensively the work the Board has done as part of the Comprehensive Plan Review. Over the past 12 months, members of the SC management team and Board have:
- met regularly with sponsors and other key stakeholders to discuss plan issues;
- conducted dozens of meetings with union, employer and member representatives;
- hosted member webcasts and responded to thousands of member questions; and
- provided formal communications to stakeholder groups, including members.
We have been open and transparent as decisions were made – and information was available and respectful of varying views and perspectives. At this time, it has become necessary to provide clarity and to directly address some of the inaccuracies and misunderstandings that we are seeing in public conversations.
This edition of Straight Talk responds directly to questions that we have received, and to inaccuracies or misunderstandings that have surfaced in discussions over the past few months. It should help to clarify things – and to ease some of your concerns.