June 16, 2016

The OMERS Sponsors Corporation (SC) has announced the results of the 2015 OMERS Board Composition Review and its decision to maintain the current structure of the OMERS Administration Corporation (OAC) and SC Boards, subject to:  1) imposing a new limit of six years for a Board member serving as an SC Co-Chair (one employer and employee representative); and 2) strengthening and formalizing the SC Board’s current efforts to engage management, non-union and small union Plan members who are not affiliated with sponsor organizations.

The MEPCO Board supports the SC Board decision and recognizes that redoubling efforts to enable the input of the unaffiliated groups is a further, significant step in meaningful and timely engagement of these groups to inform SC Board decision making.

The recent Cabinet shuffle has Bill Mauro appointed Minister of Municipal Affairs (responsibilities include the OMERS Act).  Minister of Finance, Charles Sousa and the new Associate Minister of Finance (ORPP), Indira Naidoo-Harris, have responsibility for Bill 186, the Ontario Retirement Pension Act, ORPP development and implementation.

Further information on the rationale for the SC Board decisions is available at  OMERS Board Compensation - Decisions.