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.
Tag: Ontario Municipal Employees Retirement System (OMERS)
OMHRA Summer 2019 ECHO Newsletter Features Articles Authored by Hicks Morley Lawyers
The Summer 2019 issue of OMHRA’s ECHO newsletter features two articles authored by Hicks Morley lawyers. In the article “Advanced Planning Required by Municipalities to Respond to New Changes to OMERS,” Natasha Monkman discusses how Ontario Municipal Employees’ Retirement System participating employers will need to plan in advance to respond to the changes that will be made effective on January 1, 2021…
Advanced Planning Required for New Changes to OMERS
Since we first reported on the recently adopted changes to the Ontario Municipal Employees Retirement System (OMERS) to eliminate the 35-year cap on credited service; and expand the normal retirement age 60 opportunity to paramedic employee groups.
OMHRA Winter ECHO Newsletter Features Articles Authored by Hicks Morley Lawyers
The Winter 2018 issue of OMHRA’s ECHO newsletter features two articles authored by Hicks Morley lawyers. In the article “New Enhancements to OMERS Benefits – What Municipal Employers Need to Know”…
New Enhancements to OMERS Benefits – What Employers Need to Know
Recently approved pension changes to the Ontario Municipal Employees Retirement System may increase employer pension costs and have impacts on workforce management. The OMERS Sponsors Corporation recently completed a Comprehensive Plan Review, which involved consideration of several proposed changes to the plan design and benefits.