October 27, 2011

OMERS Plan Issues

The OAC Pension Group reports regularly to the SC Board on emerging issues and topics which may affect the Plan either immediately or in the near future.  In addition to presentations on New Entrant Assumptions to the RCA program and Expanded Membership Principles, the SC considered the issue of Pension Division on Marriage Breakdown, and confirmed certain principles regarding surviving spouse definitions.  (Details will be made available on this website prior to any final determinations or filing with the regulators.)

Governance

The Executive Team was realigned, with the SC accepting the resignation of John Poos as Executive Director, and confirming the appointment of the Director of Pension Policy and Communications, Deb Preston, as Interim Executive Director.  The Board acknowledged the contributions of Mr. Poos and wished him success in his new endeavours.

Committee reports and recommendations that were approved by the SC included amendments to the process for requesting and receiving information during the critical plan change consideration period, and some internal governance processes proposed by the CGC (Corporate Governance Committee) regarding meeting procedures and board evaluations (to conduct a review of committee and board effectiveness in late 2012.)