OMERS SUPPLEMENTAL OPTIONAL SERVICE Clause Samples
The OMERS Supplemental Optional Service clause allows members of the OMERS pension plan to purchase additional credited service beyond their regular contributions. This typically applies to periods of employment that were not previously credited, such as leaves of absence, part-time work, or prior service with another employer. By enabling members to buy this extra service, the clause helps increase their pension benefits upon retirement and addresses gaps in service that might otherwise reduce their pension entitlements.
OMERS SUPPLEMENTAL OPTIONAL SERVICE. On the condition that "past service" can be treated as "credited service" under OMERS and that there is no cost whatsoever to the Board or Municipality in the member purchasing such past service, the Board agrees to endeavour to obtain from OMERS as soon as possible for members applying pursuant to the procedures and time limits established by OMERS and/or the Board, OMERS Supplemental Optional Service coverage for a member's past service. Past Service means "optional service" as defined in the OMERS Act including "war service" as also defined in the Act.
OMERS SUPPLEMENTAL OPTIONAL SERVICE. On the condition that "past service" can be treated as "credited service" under the OMERS and that there is no cost whatsoever to the Board or City of Toronto in the member purchasing such past service, the Board agrees to endeavour to obtain from OMERS as soon as possible for members applying pursuant to the procedures and time limits established by ▇▇▇▇▇ and/or the Board, OMERS supplemental Optional Service coverage for a member's past service. Past Service means "optional service" as defined in the OMERS Act including "war service" as also defined in the Act.