March 24, 2011

OPSEU Representative

Diana Clarke was welcomed to the SC Board table as the successor representative appointed by OPSEU following the departure of Marnie Niemi Hood, who had been one of the original appointees to the SC in 2006.

OMERS Pension Plans Amendments & Restatements

Restatements of plan texts for both the Primary and Supplemental Plan, including previously approved changes as set out in earlier SC by-laws, as well as some more recent clarifications of Plan provisions, were approved, resulting in By-Law #21 (Primary Plan) and By-Law #22 (Supplemental Plan).

Projection Valuation/Contribution Rate Study

The Board received further technical information related to the annual actuarial valuation, including a projection valuation and a contribution rate study, both prepared by the Plan actuary. Actuarial assumptions and analyses were discussed and additional information and background was requested.