We are OMERS, the defined benefit pension plan for over 470,000 active, deferred and retired employees from nearly 1,000 municipalities, school boards, libraries, police and fire departments, and other local agencies in communities across Ontario.
The interests of OMERS Plan members, employers, sponsors and other stakeholders are represented by two corporations with separate and distinct mandates:
OMERS Sponsors Corporation (SC) provides strategic oversight and decision-making with regard to designing affordable pension benefits, setting contribution levels, and determining the composition of the two OMERS Boards.
OMERS Administration Corporation (OAC) provides strategic and operational management in serving Plan members and employers, collecting contributions and paying pensions, and investing the Plan funds.
This bi-cameral (two-part) structure provides for the effective operation of OMERS as a whole. Specifically, it helps to ensure broad input into decision-making by considering the interests of a large number of stakeholders – and focused expertise in key areas, including Plan design, member service, and Plan investments.
The two corporations and their Boards work together, closely and collaboratively, to meet a singular goal: the delivery of secure, sustainable and affordable benefits that address the needs of both members and employers.