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Reminder:
OMERS Sponsors Corporation Plan Changes This is a reminder that the OMERS Sponsors Corporation (SC) passed amendments to the OMERS Primary Pension Plan (the Plan) in August 2017 some of which become effective as of January 1, 2020. Details regarding these changes can be found on the OMERS website. Browse FAQs |
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OMERS contribution
rates for 2020
As part of ongoing plan governance, OMERS Sponsors Corporation (SC) regularly reviews the Plan to determine whether there is a need for benefit or contribution rate changes based on the Funding Management Strategy (FMS). The FMS was adopted by the SC to guide decisions on how benefits and contributions should be modified in response to the financial health of the Plan as it cycles through periods of deficit and surplus. After reviewing the financial health of the Plan, the SC has determined that no changes will be made to the current contribution rates. Although the Plan remains underfunded, the SC elected not to impose changes under the terms of the FMS, given the short-term improvement in the Plan’s financial health. As a result, contribution rates were unchanged in 2019 and will remain unchanged for 2020. The SC will continue to regularly monitor the health of the Plan to make OMERS a sustainable, affordable and meaningful plan over the long term. |
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