June 28, 2012


The SC is responsible for approving Board Member appointments to the OAC. The CGC (Corporate Governance Committee) provided information in preparation for seeking nominees from designated sponsor organizations which have OAC Members whose terms are due to expire at year-end as well as member appointments from designated sponsor organizations which have SC Members whose terms are due to expire at year-end.  The SC approved nomination and appointment packages to be sent to affected sponsoring organizations by June 30th. 

In an effort to provide additional support, affected sponsoring organizations will be invited to information sessions scheduled for August 1st.

Mr. Tony Dean was appointed by the Ministry of Municipal Affairs and Housing as the Reviewer under the OMERS Review Act, 2006, and information was shared with all OMERS stakeholders.  Mr. Dean has set out a consultation framework for the review.  The SC determined that a submission should be made outlining the SC's history and development since its creation.


Specified Plan Change (SPC) Proposals

Amendments were made to some of the eleven SPCs before final, intensive discussion and debate.  Two SPCs were approved by the required two-thirds majority for approval, including decisions regarding the principles and a methodology for future contribution rate allocation, a decision on the 2013 contribution rates and a cap on contributory earnings used to determine benefit entitlements and contributions. 

In addition, a decision was made to file the 2011 Primary and Supplemental Plan valuations although this was determined not to be an SPC (i.e. would have no effect on contribution rates or benefits).