March 20, 2013

Specified Plan Change (SPC) Proposals

 

At first tabling, one Proposal was brought forward by a Member, which originated from a stakeholder submission. The Proposal is for the right to negotiate NRA 60 benefits for police civilians.

 

(Note: Details regarding SPCs and subsequent amendments are posted on the SC website, under Plan Design, on an ongoing basis throughout the deliberation period.)

 

Projection Valuation

 

The Board received further technical information related to the annual actuarial valuation for the Primary Plan and RCA. Actuarial assumptions, projection scenarios and other analyses were discussed as they relate to the projected funded status of the OMERS Pension Plans and the related contribution rates.

 

Governance

 

The Board received status reports on the review of the governance and compensation by-laws from the Corporate Governance Committees and Human Resources and Compensation Committee.  The Board provided its feedback and guidance to the committees as appropriate, to enable the committees to proceed effectively.