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 2010 have been incorporated in the appropriate amended and restated Primary and Supplemental Plan Texts of January 1, 2011; subsequent plan change by-laws will be filed (as attachments) until the next amended and restated Texts are approved.
Other by-laws are created from time to time to provide guidelines for future decisions.
Find approval, implementation and amendment dates are listed in the body of each by-law, policy and/or within relevant schedules and appendices.
By-Law #2 outlines the general guidelines relating to the conduct of the business and affairs of the SC.
Revised: December 15, 2011
By-Law #3 outlines the borrowing, banking and investment requirements and procedures to be followed by the SC.
By-Law #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.
By-Law #6 outlines SC and OAC Board Member compensation and guidelines for reimbursement of expenses, and SC Board Member expense and education policies.
By-Law #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 Information Committee. Procedures for nominating committee members and amending committee charters are also outlined.
By-Law #12 outlines the protocol for proposing specified changes to the OMERS Plans, approval and rejection procedures, and mediation and arbitration guidelines.
By-Law #13 outlines the composition of the OAC Board, including nominations, appointments, voting and removal.
By-Law #13-01 outlines the current year OAC Board appointments and is updated annually.
Revised effective date: January 1, 2012
By-Law #7 implements three changes to the OMERS Primary Plan, including changes concerning the inflation protection methodology, clarification of transfer provisions related to commuted values and authority of the SC to change contribution rates.
By-Law #8 effects changes to the OMERS Primary Plan concerning the Shortened Life Expectancy benefit.
By-Law #11 changes the contribution rates for the OMERS Primary Plan.
By-Law #14 approves changes to the OMERS Primary Plan and the Supplemental Plan, including changes concerning the Income Tax Act age rules for pension commencement, partial wind-up and extension of NRA 60 benefits.
By-Law #15 outlines changes to the OMERS Plans regarding contribution rates and a cap on contributory earnings.
By-Law #16 outlines changes to the OMERS Plans to allow the purchase of private sector past service.
By-Law #17 approves changes to the OMERS Plans concerning access to OMERS benefits during grievance.
By-Law #18 approves changes to the OMERS Plans concerning additional voluntary contributions.
By-Law #19 outlines changes to the OMERS Plans, including changes regarding contribution rates, pre-retirement indexing and early retirement subsidies.
By-Law #19-01 relates to the temporary nature of the changes to benefits and contribution rates outlined in By-Law #19.
By-Law #21 pertains to Amendments and Restatement of the OMERS Primary Plan, and outlines changes including clarification of Plan language and practice, and reflecting compliance with applicable legislation.
By-Law #22 pertains to Amendments and Restatement of the OMERS Supplemental Plan, and outlines changes including clarification of Plan language and practice, and reflecting compliance with applicable legislation.
By-Law #23 provides the amending Primary Plan language to implement the 2012 approved contribution rates and authorizes the filing of the December 31, 2010 Primary Plan valuation.
By-Law #24 provides the amending Primary Plan language to implement the floating earnings threshold for streaming funds to either the Primary Plan or RCA and confirms the RCA 2012 contribution rates on earnings above the allocation threshold.
By-Law #24-01 sets the conditions for making annual changes to the earnings threshold.
By-Law #25 provides the amending Supplemental Plan language to implement the 2011 contribution rates as determined by the mediation/arbitration decision and authorizes the filing of the December 31, 2010 Supplemental Plan valuation.
By-Law #26 approves amendments to the OMERS Plans to reflect the changes Bill 133 made to Ontario's rules for pension division on marriage breakdown, concerning eligibility for spousal survivor benefits.
By-Law #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.
By-Law #20 outlines the approval of the SC Statement of Plan Design Objectives and Strategy as it pertains to the Primary Plan.
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.
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.