October 2, 2008

Non-Specified (Technical) Plan Changes

Senior OMERS Pension Group (OPG) staff attend most SC meetings to provide updates on issues which might affect the Plan(s) or members of the Plan(s). Although 'specified plan changes' (which may impact benefits or contribution levels) are dealt with in a specific timeframe in the first half of the year, other changes to comply with regulatory obligations or to clarify wording in plan text are brought forward on an as-needed basis. Numerous 'technical plan changes' were brought forward for information, and some were referred to the SC Plan Design Information Committee (PDIC) for further research.

AC Board Composition

The SC approved the report of the CGC (Corporate Governance Committee) as a framework for development of a by-law and referred same to counsel.

OMERS Fall Information Meeting

Final plans were confirmed for the October 16th meeting, to which stakeholders had received advance notice. Although the AC Chair and OMERS CEO would not be present due to the opening of OMERS Worldwide in London, England on the same date, the AC Chair of Corporate Governance and a senior manager from OMERS Capital Assets were confirmed to address the current market conditions and to provide updates on AC activities.

SC Communications Policy

A draft policy confirming transparency and statutory obligations was discussed, including the various avenues of communication. The Policy will be brought back, with suggested amendments, for further consideration.

It was agreed that summaries of SC Board meetings would be posted on the SC website.