Protecting the OMERS Pension Plan: What Does Tomorrow Demand from Us Today?

On October 24th, 2013, a special session was held prior to the start of AMO’s 2013 Counties, Regions and Single Tier (CRST) Symposium to learn about the Stark Realities of OMERS Sustainability.

Contributions to the OMERS Pension Plan have grown by 40% in the last five years, reaching an all-time high, and yet the Plan faces a $10 billion deficit. OMERS has a plan to address this deficit within the next 10 to 15 years, provided that its investment return targets are met and demographic assumptions do not change.

The long-term health of the OMERS Pension Plan is fundamental to the well-being of thousands of municipal employees. Municipal managers need to understand how it works and what the issues are. Municipal councils must ensure that the Plan’s needs are funded in an affordable way for current and future taxpayers. We all have a strong interest in making sure that the OMERS Plan is affordable and dependable for generations to come.
A leading pension expert outlined the challenges that OMERS faces, so that employers and employees can be more proactive about protecting the health of the plan.