November 30, 2015

Actuarial Assumptions 

The SC met to discuss a report received from OAC Management on the preliminary actuarial assumptions for the December 31, 2015 valuation, including the discount rate. (Subsequently, on December 9th the SC and OAC Boards met to jointly discuss the preliminary actuarial assumptions). 

Pension Reform

The newly elected federal government indicated an interest in expanding the Canada Pension Plan (CPP). The SC met jointly with the OAC Board for an education session related to the CPP and the potential impacts that CPP reform may have on OMERS and its various constituents. 

SC Appointments

The SC received the last of the SC Board Appointments effective January 1, 2016.

Reappointed for three-year terms effective January 1, 2016 are; Barry Brown, Brian O'Keefe, Charlie Macaluso, Diana Clarke and Sandra Sahli.  The City of Toronto appointed Joe Pennachetti to replace John Fleming, who had served since July 1, 2007.  Mr. Pennachetti will serve the remainder of the current term which expires December 31, 2017; he will be eligible for reappointment thereafter.

For completeness, Dan Axford was appointed by the Police Association of Ontario effective October 1, 2015 to replace Bruce Miller, who had served since June 30, 2006.