Accountability and disclosure
OMERS is active in reporting to plan members and employers on how their contributions are managed and invested. The OMERS Board, now the Administration Corporation Board of Directors, holds meetings each year with plan members and maintains frequent contact through consultations with stakeholder groups on key issues, the annual report, website, regular newsletters, benefit statements, presentations and correspondence.
OMERS is a member of the Canadian Coalition for Good Governance and is committed to making every effort to help our members and stakeholders better understand our corporate policies. Strong and transparent corporate governance practices assure our members that OMERS is being operated in the best interests of plan participants.
OMERS also sits on a Blue Ribbon Commission on Governance of Executive Compensation with several other organizations, including KPMG, CPP Investment Board, Executive Risk Governance Advisors, Russell Reynolds, Alberta Investment Management, Torys, Bill Dimma, Robert Parizeau, and The Institute of Corporate Directors.
The Blue Ribbon Commission’s objective is to improve the executive compensation decision-making process in Canada in order to protect shareholders and boards from poorly designed compensation plans that destroy shareholder value and create liability risks for directors, in part through Bill 198. The Commission’s recommendations will be used by the federal government to revise the Canada Business Corporations Act later in 2006.