OMERS pension plans definition

OMERS pension plans means the primary pension plan, any retirement compensation arrangements that provide benefits for members and former members of the OMERS pension plans and such other pension plans as may be established by the Act or by the Sponsors Corporation;
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OMERS pension plans means the OMERS Primary Pension Plan, the OMERS Supplemental Pension Plan for Police, Firefighters and Paramedics, and any retirement compensation arrangements that provide benefits for members and former members of the OMERS Pension Plans;
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Examples of OMERS pension plans in a sentence

  • The primary responsibility of an AC Member on any issue of a fiduciary nature coming before the Administration Corporation is to approve only such actions which the AC Member believes are in the best interests of the OMERS pension plans and in the best interests of OMERS pension plan members.

  • The Board of Directors shall appoint a Fellow of the Canadian Institute of Actuaries to act as the actuary for the OMERS pension plans.

  • The Board of Directors shall annually appoint one or more persons licensed under the Public Accounting Act, 2004 to audit the accounts and transactions of the OMERS pension plans each year and to express an opinion on the financial statements for the OMERS pension plans based on the audit and to report to the Board of Directors.

  • The Board of Directors may request any information from the actuary that it considers appropriate and shall receive such recommendations from the actuary as the actuary considers advisable for the proper administration of the OMERS pension plans.

  • A resolution to change the Corporation’s by-laws or to effect any change in the OMERS pension plans (including contribution rate changes) may be validly enacted at a meeting of Members only if the proposed text of such resolution has been included with the notice of such meeting to be given pursuant to this Section 5.1, unless at such meeting two-thirds of the Members waive their right to have received the proposed text.

  • It has specific statutory duties in respect of the jointly sponsored OMERS pension plans (the “Plans”).

  • By-Law No. 12 of the SC provides a detailed protocol for review and discussion of specified change proposals for OMERS pension plans.

  • Notwithstanding Section 5.1, and except for matters relating to a change in the Corporation’s by-laws or the enactment of any change in the OMERS pension plans (including contribution rate changes), the ten-day notice requirement shall not apply in the event of an emergency, in which case the Chair should give as much prior notice in the manner set out in Section 5.1 as is practicable.

  • This RCA Statement does not affect the existing terms of the OMERS pension plans, and does not create a formal amendment to the OMERS pension plans.

  • A specified change is described as: • a change in benefits for members of any of the OMERS pension plans; • a change in the contribution rate for members or participating employers; or • the establishment of, or a change to, a reserve to stabilize contribution rates.

Related to OMERS pension plans

  • Pension Plan means any “employee pension benefit plan” (as such term is defined in Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by the Borrower or any ERISA Affiliate or to which the Borrower or any ERISA Affiliate contributes or has an obligation to contribute, or in the case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five plan years.