The OMERS Sponsors Corporation considers two types of plan changes throughout the year: Specified Plan Changes and Other Plan Changes.
Specified Plan Changes are defined in the OMERS Act, 2006 and are generally those which could result in a change in benefits, contribution rates or reserves. Proposals for this kind of change can be evaluated at any time, but follow the formal approval process and protocol as outlined in By-Law #12. The Specified Plan Change process is time-limited and occurs only once each year. SC Board Members begin tabling proposals soon after formal receipt of the annual Primary Plan Valuation (around March 1st). Review and amendment (or withdrawal) of proposals follows, with final decisions made no later than June 30.
Other Plan Changes generally refer to improvements in plan language or minor "housekeeping" type changes that ensure legislative/regulatory requirements and administrative practice are appropriately reflected. They can be considered and approved at any meeting of the SC, but must follow the notification requirements outlined under our Communications Policy.
All proposals for plan changes are posted on this website as soon as possible after being tabled at an SC Board meeting.
Stakeholder requests for plan changes can be made at any time during the year and can be submitted using an interactive form.
Before any approved plan changes become effective, detailed by-laws must be filed with and accepted by the regulators, and incorporated in the governing plan texts.