As part of an annual process, the preliminary results of the December 31, 2014 actuarial valuations of the Primary Plan and the RCA were provided to the SC and OAC Boards on February 18. The funded status of the OMERS Pension Plans at December 31, 2014 was reviewed in preparation for the Funding Management Strategy decisions which would be decided at the March 31 Board meeting.
The SC CEO was authorized to receive final 2014 Actuarial Valuations following approval by the OAC Board, which was expected in the days following the meeting.
The 2014 SC audited financial statements recommended by the Audit Committee were approved for inclusion in the 2014 Annual Report.
Budget & Expense Management
The SC continued to explore practical alternatives for establishing permanent funding arrangements given that any unused grant funds would be returned shortly (see January 22).