Natasha Monkman and Andrew Easto unpack key takeaways from the recently released OMERS Governance Review Report and examine how the proposed reforms may affect employers and plan sponsors.
Tag: Ontario Municipal Employees Retirement System (OMERS)
OMERS Announces Significant Plan Amendments, Including Amendments to Support Members Affected by COVID-19
Participating employers in the Ontario Municipal Employees Retirement System (OMERS) should be aware of five amendments to the OMERS Primary Pension Plan (Primary Plan) approved by the OMERS Sponsors Corporation Board (SC Board) on June 24, 2020. The changes will be of interest to employers in the municipal and school board sectors with employees who participate in OMERS and include several amendments to address COVID-19-related issues. In addition, two non-COVID-19-related amendments were adopted, including a major change to eligibility for non-full-time employees.