January 19, 2010

Pension Reform

In December 2009, the Ontario government proposed amendments to the Pension Benefits Act through Bill 236 (an Act to Amend the Pension Benefits Act). This is the first step in modernizing Ontario’s pension legislation. OMERS Pension Group presented a draft submission to the government in response to proposed amendments . Considerable discussion followed regarding various issues within the draft submission with agreement that the submission would be amended and brought back for consideration by the SC.

Third-Party Investment Management

Wendy Forsythe, the new President of OIM (OMERS Investment Management) presented the business plan for the new entity and confirmed that processes are in place to ensure proper attribution of costs. Meeting Guidelines

The CGC (Corporate Governance Committee) had reviewed board and committee meeting practices and proposed a set of meeting guidelines, which were approved by the SC.

2010 Operating Plan

The 2010 SC Operating Plan was presented and approved, and will be reviewed throughout the year in conjunction with quarterly budget updates.