The Ontario Municipal Employees Retirement System Act, 2006 (OMERS Act), also referred to as Bill 206, came into force on June 30, 2006. Through the Act, the Ontario Government devolved itself from its central sponsorship role and established a new and independent governance model for OMERS. The OMERS Sponsors Corporation now determines Plan design and contribution rate changes while the OMERS Administration Corporation manages the Plan’s day to day operations including investment strategy, plan valuation and pension benefit administration.

The Act fundamentally changed AMO’s role in OMERS governance and administration by legislating AMO to appoint employer representatives to the Sponsors Corporation and Administration Corporation.