Tag: Ontario Municipal Employees Retirement System (OMERS)
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OPSEU/SEFPO pensions collaborate with other plans on financial literacy month video
Toronto – Defined benefit (DB) pension plans from across Canada today released an informational video entitled What’s Important produced in collaboration to mark Financial Literacy Month and raise awareness about the value of retirement income security. The plans include BC’s College, Municipal, Public Service and WorkSafeBC, College of Applied Arts and Technology (CAAT), OMERS, Ontario…
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OMERS Vacancy: Sponsors Corporation Representative
The following letter was sent to all OPSEU/SEFPO local presidents whose members are part of the Ontario Municipal Employees Retirement System (OMERS) pension plan. To: All BPS Local Presidents or highest ranking officers with members in OMERS From: Giulia Volpe, Benefits Counsellor on behalf of the Pension Liaison Committee Date: November 12, 2021 Re: Ontario…
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OMERS Vacancy: Sponsors Corporation Representative
The following letter was sent to all OPSEU/SEFPO local presidents whose members are part of the Ontario Municipal Employees Retirement System (OMERS) pension plan. Download the letter. To: All BPS Local Presidents or highest ranking officers with members in OMERS From: Giulia Volpe, Benefits Counsellor on behalf of the Pension Liaison Committee Date: October 8,…
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OMERS Vacancy: Sponsors Corporation Representative
The following letter was sent to all OPSEU/SEFPO local presidents whose members are part of the Ontario Municipal Employees Retirement System (OMERS) pension plan. Download the letter. To: All BPS Local Presidents or highest ranking officers with members in OMERS From: Giulia Volpe, Benefits Counsellor on behalf of the Pension Liaison Committee Date: August 26,…
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OPSEU/SEFPO ‘very concerned’ following poor OMERS pension performance
OPSEU/SEFPO is very concerned about OMERS’s investing strategies in light of the losses the municipal sector workers’ pension plan recorded in 2020. The union very proudly represents some 15,000 municipal sector workers, many of whom are part of the OMERS pension plan. As a union sponsor, OPSEU/SEFPO has a vested interest in the plan’s success…
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OPSEU/SEFPO writes PSAB regarding retirement benefits
Mr. Clyde MacLellan Chair, Public Sector Accounting Board Dear Mr. MacLellan, The purpose of this letter is to provide comments from the Ontario Public Service Employees Union (OPSEU/SEFPO) on the Public Sector Accounting Board’s (PSAB’s) review of Section PS 3250, Retirement Benefits (“the Project”). We believe that the practical effects of these changes will be unhelpful…
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President Thomas’s letter to the CEO of OMERS
Warren (Smokey) Thomas, President of OPSEU, has sent the following letter to Michael Rolland, CEO of OMERS, about the OMERS board’s adoption of shared risk indexing. July 2, 2020 Mr. Michael RollandChief Executive OfficerOMERS Sponsors Corporation900-100 Adelaide Street WestToronto, Ontario M5H 0E2 Dear Mr. Rolland, We are greatly disappointed by your announcement that details of…
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A Message about OMERS from President Thomas and the Pension Liaison Committee
The Sponsors Corporation Board of OMERS has passed an amendment allowing the board to eliminate guaranteed indexing of pension credits earned after 2023. What does this amendment mean to the members of OMERS? Members of the OMERS pension plan who continue to work past January 1, 2023, will have their future service credits subject to…
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Protect OMERS Pension: Telephone Town Hall
If you are a member of the OMERS pension plan, you’ll want to be on this call. In June 2020, the OMERS Sponsors Corporation Board will be voting on whether to take guaranteed indexing – our guaranteed cost of living raises in retirement – out of the plan. OPSEU has told OMERS in no uncertain…
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Protect your raises in retirement: Send an email to OMERS now!
In June 2020, the OMERS Sponsors Corporation Board will be voting on whether to get rid of guaranteed indexing, which threatens our raises in retirement. Read more here about why this is a really bad idea. Take action today! Write to the OMERS Sponsors Corporation (SC) Board demanding that they keep guaranteed indexing in the…
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Tell OMERS: Protect our raises in retirement!
Not again. Twice in the past three years, members of the OMERS pension plan have fought off “conditional indexing” which threatens our cost of living raises in retirement. And now, here we are again. This time they’ve given it a new name: “shared risk indexing.” But it’s pretty much the same old thing as before:…
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OPSEU urges OMERS to postpone crucial vote
On behalf of the thousands of OPSEU members who belong to the Ontario Municipal Employees Retirement System (OMERS), OPSEU President Warren (Smokey) Thomas has written to the pension plan’s leaders urging them to postpone a crucial vote on the plan’s future. “OPSEU is formally requesting you delay this vote until such a time when the…
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OPSEU fighting ‘anti-democratic’ OMERS changes
Toronto — The OMERS Sponsors Corporation Board has rushed through changes to its governance bylaws that will make it more difficult for employee representatives to have a strong voice. The board met on November 14th and pushed the amendments through, ignoring a plea from all of the employee Sponsor Organizations to be given time to…
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OPSEU’s President to OMERS: You won’t muzzle working people with threats
OPSEU and other employee groups on the OMERS Sponsors Corporation Board of Directors have raised concerns about changes to the board’s governing bylaws that could stifle the voice of the workers’ representatives. OPSEU members handed out leaflets earlier this month detailing the concerns they have about the changes. OMERS responded by threatening to sue OPSEU…
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Bylaw changes could threaten equal representation for unions at OMERS
On Monday, November 4, the OPSEU Pension Liaison Committee (PLC) met with the sponsors of the other unions and associations that comprise the employees’ representatives on the OMERS Sponsors Corporation Board of Directors (SC board). This was the first meeting of the Employee Sponsors of OMERS Caucus (ESOC). ESOC is dedicated to monitoring the actions…
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OPSEU helps drive defeat of ‘unnecessary’ OMERS pension changes
Toronto – Together with its labour allies, OPSEU has made significant progress in efforts to protect the pensions of thousands of its members. The OMERS Sponsors Corporation Board of Directors voted today on six proposed changes to the pension plan as part of its Comprehensive Plan Review, defeating all but two. “I’m delighted the board…
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OMERS teletown halls
Are you a member of the OMERS pension plan? If so, you need to participate in OPSEU’s teletown hall on possible changes to the plan. You will be called at 2 p.m. and 8 p.m. (if your updated number is in our database). If you just remain on the line, this will connect you with…
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Join teletown hall on OMERS pension plan changes
We strongly encourage all OPSEU members who currently belong to the OMERS pension plan to join President Warren (Smokey) Thomas, OPSEU Pension Liaison Committee members Len Elliott and Gareth Jones, and OPSEU staff for a teletown hall to discuss proposed changes to the plan and have your questions answered. When Tuesday, October 30 at 2…
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OPSEU President concerned about proposed cutbacks to the OMERS pension plan
Toronto – OPSEU President Warren (Smokey) Thomas says the executive of the OMERS Pension Plan can expect a fight if they try to rush through unnecessary pension plan changes that will leave members paying more for less. “The OMERS pension plan is in good shape financially and will ensure a dignified retirement for the hundreds…
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Be an OPSEU pension trustee!
Three of the jointly-sponsored pension plans that OPSEU members belong to are looking for members to take on the important and fascinating work of being a pension plan trustee. Interested OPSEU members in the Healthcare of Ontario Pension Plan (HOOPP), the Ontario Municipal Employees Retirement System (OMERS), and the OPSEU Pension Trust (OPTrust) are invited…