MEET OUR MEMBERS
Meet Glen, a retired member from Thunder Bay.
Glen is a retired OMERS member and former Comptroller at Thunder Bay Hydro. We asked Glen about his career and how he achieved financial resiliency in retirement with his OMERS Pension Plan.
Glen dedicated his career to excellence in service for the City of Thunder Bay spanning more than four decades with the Thunder Bay District Housing Authority, Thunder Bay Hydro and the Municipality of Neebing – all OMERS employers.
Before he retired, Glen applied his penchant for numbers and designations as a Certified Public Accountant (CPA) and Certified Management Accountant (CMA) to leading the accounting department as Comptroller for Thunder Bay Hydro. His team was responsible for preparing annual operating and capital budgets, in addition to quarterly comparative financial statements and year-end audited financial statements.
Glen retired early at 55. He qualified for an unreduced early retirement pension, which is possible for members who have accumulated over 30 years of service in the OMERS Pension Plan.
You may also qualify for an unreduced early retirement with the 90 Factor if your normal retirement age (NRA) is 65, or the 85 Factor if your NRA is 60 (click here to read more in the Member Handbook).
However, six months into his retirement, Glen decided he wasn’t quite ready to stop contributing to municipal finances and operations. He accepted a role as Clerk-Treasurer for the Municipality of Neebing and supported their financial operations until late 2000 when he transitioned into full-time retirement. Here’s what he had to say about his pension: “I am very thankful to OMERS for allowing me to take an early retirement. It afforded me the opportunity to spend many enjoyable hours with my wife Pauline, our two daughters and their families at our summer cottage on the shores of Lake Superior. We traveled to many different cities and countries over the past 25 years and none of it would have been possible without the financial resources provided to me by the OMERS Pension Plan.”
For the past 15 years, Glen has continued to stay active in his community through his various executive contributions to Municipal Retirees Organization of Ontario (MROO). During this time, he has connected with other OMERS retirees across Ontario, led all financial aspects for MROO and assisted in building the MROO membership from 11,000 to 22,000 members provincewide.
Prior to the lockdowns caused by COVID-19, Glen enjoyed staying active by curling and golfing with friends, as well as volunteering for several organizations helping other seniors. Once the pandemic is over, he looks forward to returning to his favourite pastimes. “Once Ontario reopens, my wife and I look forward to seeing our family, friends and colleagues, and enjoying all the activities that we haven't been able to do over the past 15 months.”
Asked if he had any advice for early to mid-career OMERS members beginning to think more about financial planning for retirement, Glen had some suggestions for active members: “I would highly recommend that you begin to think about retirement earlier rather than later, as it will arrive faster than you think. Also, for those of you who can buy back past service in the OMERS Pension Plan, take advantage of this opportunity. Buy-backs can assist you in your retirement years. My only other recommendation is to trust the OMERS Investment team to the fullest. They have done a wonderful job investing our pension funds and allowing us, the OMERS members, to enjoy many years of financial security."