By-Laws & Policies

The governance structure of the Corporation itself is defined in a number of corporate by-laws and policies, which are reviewed and updated as required and to provide a best practice foundation.

Before any SC decisions to change the OMERS Plans become effective, by-laws detailing the amendments must be filed with and accepted by the regulators. All plan change by-laws passed by the SC from 2007 through 2014 were incorporated in the appropriate amended and restated Primary and Supplemental Plan Texts of January 1, 2014.  Subsequent plan change by-laws will be posted here as soon as possible following the approval by the SC.

Other by-laws may be created from time to time and will be posted here.

Final approval, implementation and amendment dates are listed in the body of each by-law, policy and/or within relevant schedules and appendices.

Corporate By-Laws

General
PDF [295 KB]
By-Law No. 2

By-Law No. 2 outlines the general guidelines relating to the conduct of the business and affairs of the SC.

Last Approved: December 10, 2014

Borrowing & Banking Authority
PDF [160 KB]
By-Law No. 3

By-Law No. 3 outlines the borrowing, banking and investment requirements and procedures to be followed by the SC.

Last Approved: December 10, 2014

Composition of the SC
PDF [470 KB]
By-Law No. 4

By-Law No. 4 outlines the composition of the SC, including definitions of Employer Members, Employee Members and Member Groups, as well as terms of appointment, removal, resignation, and voting.

Last Approved:  January 17, 2017

Compensation
PDF [375 KB]
By-Law No. 6

By-Law  No. 6 outlines SC and OAC Board Member compensation and guidelines for reimbursement of expenses, and SC Board Member expense and education policies.

Last Approved:  November 15, 2016

Committees
PDF [336 KB]
By-Law No. 9

By-Law No. 9 outlines the composition and charters of certain committees of the SC; including the Audit Committee, Corporate Governance Committee, Human Resources and Compensation Committee, and Plan Design Committee.  Procedures for nominating members and amending committee charters are also outlined.

Last Approved:  January 19, 2016 (effective January 1, 2016)

Specified Plan Change Process
PDF [209 KB]
By-Law No. 12

By-Law No. 12 outlines the protocol for proposing specified changes to the OMERS Plans, approval and rejection procedures, and mediation and arbitration guidelines.

Last Approved: June 23, 2015

Composition of the OAC
PDF [327 KB]
By-Law No. 13

By-Law No. 13 outlines the composition of the OAC Board, including nominations, appointments, voting and removal.

Last Approved: December 14, 2016


The above by-laws are reviewed at least annually for “housekeeping” changes and as issues arise which must be addressed.  A more detailed review of each by-law is conducted periodically; the frequency and nature of that review varies by by-law.  By-Laws No. 4, 6 and 13 were reviewed in detail and approved in 2013.


The following by-laws relate to documenting the terms of the OMERS pension plans.

Plan Terms & Changes By-Laws

Plan Change
PDF [160 KB]
By-Law No. 24-01

By-Law No. 24-01 sets the conditions for making annual changes to the earnings threshold.

Last Approved:  December 10, 2014

Primary Plan - 2014
PDF [714 KB]
By-Law No. 30

By-Law No. 30 pertains to the Amendment and Restatement of the OMERS Primary Plan.

Last Approved:  February 18, 2014, effective January 1, 2014

Supplemental Plan - 2014
PDF [1,038 KB]
By-Law No. 31

By-Law No. 31 pertains to the Amendment and Restatement of the OMERS Supplemental Plan.

Last Approved:  February 18, 2014, effective January 1, 2014

SPC Change in Contribution Rates-2015
PDF [157 KB]
By-Law No. 32

By-Law No. 32 outlines changes to the OMERS Plans pertaining to contribution rates.

Last Approved: August 19, 2014, effective January 1, 2015

RCA
PDF [179 KB]
By-Law No. 33

By-Law No. 33 pertains to the terms of the Retirement Compensation Arrangement.

(Note: the RCA Plan Text was last amended and restated as of June 30, 2007)

Last Approved:  December 10, 2014

Changes Concerning AVC Program and Supplemental Plan Costs
PDF [629 KB]

 

By-Law No. 34 outlines changes concerning the AVC Program, Supplemental Plan Contribution Rates and related "rebound rates" of the Primary Plan.

Last Approved:  August 31, 2016

Technical Changes to Primary and Supplemental Plans
PDF [748 KB]

 

By-Law No. 35 outlines the technical changes pertaining to the Primary and Supplemental Plans.

Last Approved:  August 31, 2016

Plan Amendments to Primary and Supplemental Plans and the RCA
PDF [210 KB]
By-Law No. 36

By-Law No. 36 outlines technical changes to the AVC Program of the Primary Plan and changes concerning Commuted Values, Service Buy Backs, Dual Membership and Foreign Employment in the Primary and Supplemental Plans and the RCA.

Approved:  August 23, 2017


Other By-Laws

Flat Rate Levy
PDF [169 KB]
By-Law No. 10

By-Law No. 10 provides a mechanism for collecting a fee (in the form of a flat rate levy) from Plan employers and active members to fund Corporation costs that may not be lawfully paid out of a pension fund, as per Section 28 of the OMERS Act, 2006.

Last Approved: February 21, 2012

Statement of Plan Design (SPDOS) - Primary Plan
PDF [364 KB]
By-Law No. 20

By-Law No. 20 outlines the approval of the SC Statement of Plan Design Objectives and Strategy as it pertains to the Primary Plan.

Last Approved: October 22, 2014

Statement of Plan Design (SPDOS) - RCA
PDF [332 KB]
By-Law No. 28

By-Law No. 28 outlines the approval of the SC Statement of Plan Design Objectives and Strategy as it pertains to the RCA.

Last Approved:  June 23, 2015


Policies

Communications Policy
PDF [170 KB]

The Communications Policy is intended to apply to communications with third parties, including stakeholders and government agencies. It should be read in conjunction with all other policies of the SC, including the Confidentiality Policy.

Last Approved:  December 10, 2014

Confidentiality Policy
PDF [178 KB]

The Confidentiality Policy is intended to provide a high level of transparency and accessibility where appropriate, with provision of confidentiality status to a relatively small group of documents.

Last Approved:  April 17, 2013