By-Laws & Policies
The governance structure of the Corporation itself is defined in a number of corporate by-laws and policies, which are reviewed and updated as required and to provide a best practice foundation.
Before any SC decisions to change the OMERS Plans become effective, by-laws detailing the amendments must be filed with and accepted by the regulators. All plan change by-laws passed by the SC from 2007 through 2014 were incorporated in the appropriate amended and restated Primary and Supplemental Plan Texts of January 1, 2015. Subsequent plan change by-laws will be posted here as soon as possible following the approval by the SC.
Other by-laws may be created from time to time and will be posted here.
Final approval, implementation and amendment dates are listed in the body of each by-law, policy and/or within relevant schedules and appendices.
Corporate By-Laws
General .pdf
By-Law No. 2 outlines the general guidelines relating to the conduct of the business and affairs of the SC. Last Approved: November 14, 2019
By-Law No. 2 outlines the general guidelines relating to the conduct of the business and affairs of the SC. Last Approved: November 14, 2019
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(202 KB)
(202 KB)
Borrowing & Banking Authority .pdf
By-Law No. 3 outlines the borrowing, banking and investment requirements and procedures to be followed by the SC. Last Approved: December 13, 2017
By-Law No. 3 outlines the borrowing, banking and investment requirements and procedures to be followed by the SC. Last Approved: December 13, 2017
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(165 KB)
(165 KB)
Composition of the SC .pdf
By-Law No. 4 outlines the composition of the SC, including definitions of Employer Members, Employee Members and Member Groups, as well as terms of appointment, removal, resignation, and voting. Last Approved: May 19, 2020.
By-Law No. 4 outlines the composition of the SC, including definitions of Employer Members, Employee Members and Member Groups, as well as terms of appointment, removal, resignation, and voting. Last Approved: May 19, 2020.
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(238 KB)
(238 KB)
Compensation .pdf
By-Law No. 6 outlines SC and AC Board Member compensation and guidelines for reimbursement of expenses, and SC Board Member expense and education policies. Last Approved: February 25, 2020
By-Law No. 6 outlines SC and AC Board Member compensation and guidelines for reimbursement of expenses, and SC Board Member expense and education policies. Last Approved: February 25, 2020
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(362 KB)
(362 KB)
Committees .pdf
By-Law No. 9 outlines the composition and charters of certain committees of the SC; including the Audit Committee, Corporate Governance Committee, Human Resources and Compensation Committee, Plan Design Committee and Risk Oversight Committee.
By-Law No. 9 outlines the composition and charters of certain committees of the SC; including the Audit Committee, Corporate Governance Committee, Human Resources and Compensation Committee, Plan Design Committee and Risk Oversight Committee.
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(446 KB)
(446 KB)
Specified Plan Change Process .pdf
By-Law No. 12 outlines the protocol for proposing specified changes to the OMERS Plans, approval and rejection procedures, and mediation and arbitration guidelines. Last Approved: December 12, 2018
By-Law No. 12 outlines the protocol for proposing specified changes to the OMERS Plans, approval and rejection procedures, and mediation and arbitration guidelines. Last Approved: December 12, 2018
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(277 KB)
(277 KB)
Composition of the AC .pdf
By-Law No. 13 outlines the composition of the AC Board, including nominations, appointments, voting and removal. Last Approved: February 25, 2020
By-Law No. 13 outlines the composition of the AC Board, including nominations, appointments, voting and removal. Last Approved: February 25, 2020
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(390 KB)
(390 KB)
Plan Terms & Changes By-Laws
The following by-laws relate to documenting the terms of the OMERS pension plans.
Plan Change .pdf
By-Law No. 24-01 sets the conditions for making annual changes to the earnings threshold. Approved: December 10, 2014
By-Law No. 24-01 sets the conditions for making annual changes to the earnings threshold. Approved: December 10, 2014
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(160 KB)
(160 KB)
Primary Plan - 2014 .pdf
By-Law No. 30 pertains to the Amendment and Restatement of the OMERS Primary Plan. Approved: February 18, 2014, effective January 1, 2014
By-Law No. 30 pertains to the Amendment and Restatement of the OMERS Primary Plan. Approved: February 18, 2014, effective January 1, 2014
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(713 KB)
(713 KB)
Supplemental Plan - 2014 .pdf
By-Law No. 31 pertains to the Amendment and Restatement of the OMERS Supplemental Plan. Approved: February 18, 2014, effective January 1, 2014
By-Law No. 31 pertains to the Amendment and Restatement of the OMERS Supplemental Plan. Approved: February 18, 2014, effective January 1, 2014
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(1.4 MB)
(1.4 MB)
SPC Change in Contribution Rates-2015 .pdf
By-Law No. 32 outlines changes to the OMERS Plans pertaining to contribution rates. Approved: August 19, 2014, effective January 1, 2015
By-Law No. 32 outlines changes to the OMERS Plans pertaining to contribution rates. Approved: August 19, 2014, effective January 1, 2015
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(156 KB)
(156 KB)
RCA .pdf
By-Law No. 33 pertains to the terms of the Retirement Compensation Arrangement. (Note: the RCA Plan Text was last amended and restated as of June 30, 2007) Approved: December 10, 2014
By-Law No. 33 pertains to the terms of the Retirement Compensation Arrangement. (Note: the RCA Plan Text was last amended and restated as of June 30, 2007) Approved: December 10, 2014
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(179 KB)
(179 KB)
Changes Concerning AVC Program and Supplemental Plan Costs .pdf
By-Law No. 34 outlines changes concerning the AVC Program, Supplemental Plan Contribution Rates and related "rebound rates" of the Primary Plan. Approved: August 31, 2016
By-Law No. 34 outlines changes concerning the AVC Program, Supplemental Plan Contribution Rates and related "rebound rates" of the Primary Plan. Approved: August 31, 2016
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(628 KB)
(628 KB)
Technical Changes to Primary and Supplemental Plans .pdf
By-Law No. 35 outlines the technical changes pertaining to the Primary and Supplemental Plans. Approved: August 31, 2016
By-Law No. 35 outlines the technical changes pertaining to the Primary and Supplemental Plans. Approved: August 31, 2016
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(747 KB)
(747 KB)
Plan Amendments to Primary and Supplemental Plans .pdf
By-Law No. 36 outlines technical changes to the AVC Program of the Primary Plan and changes concerning Commuted Values, Service Buy Backs, Dual Membership and Foreign Employment in the Primary and Supplemental Plans. Approved: August 23, 2017
By-Law No. 36 outlines technical changes to the AVC Program of the Primary Plan and changes concerning Commuted Values, Service Buy Backs, Dual Membership and Foreign Employment in the Primary and Supplemental Plans. Approved: August 23, 2017
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(4.5 MB)
(4.5 MB)
City of Toronto - City of York Employees' Pension Plan - Transfer agreement Information .pdf
By-Law No. 37 provides information regarding the City of York Employee Pension Plan merging into the Primary Plan pursuant to a pension transfer agreement between the Administration Corporation, Sponsors Corporation and the City of Toronto
By-Law No. 37 provides information regarding the City of York Employee Pension Plan merging into the Primary Plan pursuant to a pension transfer agreement between the Administration Corporation, Sponsors Corporation and the City of Toronto
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(3.6 MB)
(3.6 MB)
Plan Amendments to Primary and Supplemental Plans .pdf
By-Law No. 38 provides information regarding the approved Plan changes pertaining to the NRA 60 option for Paramedics and the elimination of the 35-year cap on credited service. Approved: February 15, 2019/Effective January 1, 2021
By-Law No. 38 provides information regarding the approved Plan changes pertaining to the NRA 60 option for Paramedics and the elimination of the 35-year cap on credited service. Approved: February 15, 2019/Effective January 1, 2021
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(422 KB)
(422 KB)
City of Toronto - Toronto Civic Employees' Pension Plan - Transfer agreement information .pdf
By-Law No. 39 provides information regarding the Toronto Civic Employees' Pension Plan merging into the Primary Plan pursuant to a pension transfer agreement between the Administration Corporation, Sponsors Corporation and the City of Toronto
By-Law No. 39 provides information regarding the Toronto Civic Employees' Pension Plan merging into the Primary Plan pursuant to a pension transfer agreement between the Administration Corporation, Sponsors Corporation and the City of Toronto
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(4.1 MB)
(4.1 MB)
Police Plan merge into the Primary Plan .pdf
By-Law No. 40 provides information regarding the Metropolitan Toronto Police Benefit Fund merging into the Primary Plan pursuant to a pension transfer agreement between the Administration Corporation, Sponsors Corporation and the City of Toronto
By-Law No. 40 provides information regarding the Metropolitan Toronto Police Benefit Fund merging into the Primary Plan pursuant to a pension transfer agreement between the Administration Corporation, Sponsors Corporation and the City of Toronto
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(2.0 MB)
(2.0 MB)
Metro Plan merge into the Primary Plan .pdf
By-Law No. 41 provides information regarding the Metropolitan Toronto Pension Plan merging into the Primary Plan pursuant to a pension transfer agreement between the Administration Corporation, Sponsors Corporation and the Metropolitan Toronto Pension Plan
By-Law No. 41 provides information regarding the Metropolitan Toronto Pension Plan merging into the Primary Plan pursuant to a pension transfer agreement between the Administration Corporation, Sponsors Corporation and the Metropolitan Toronto Pension Plan
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(2.0 MB)
(2.0 MB)
Plan Amendments to Primary and Supplemental Plans - Shared Risk Indexing .pdf
By-Law No. 42 implements Shared Risk Indexing effective January 1, 2023. It establishes the structure for the SC Board to determine the amount of the inflation adjustment in future years. Approved: June 24, 2020
By-Law No. 42 implements Shared Risk Indexing effective January 1, 2023. It establishes the structure for the SC Board to determine the amount of the inflation adjustment in future years. Approved: June 24, 2020
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(144 KB)
(144 KB)
Plan Amendments to Primary and Supplemental Plans - Non-Full-Time Expansion .pdf
By-Law No. 43 implements the expanded eligibility of Non-Full-Time employees. It is also effective January 1, 2023. Approved: June 24, 2020
By-Law No. 43 implements the expanded eligibility of Non-Full-Time employees. It is also effective January 1, 2023. Approved: June 24, 2020
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(137 KB)
(137 KB)
Plan Amendments to Primary and Supplemental Plans .pdf
By-Law No. 44 updates several section references following the changes approved last year to incorporate pre-existing City of Toronto plans into OMERS. The change is effective as of June 24, 2020 and has no impact on plan members.
By-Law No. 44 updates several section references following the changes approved last year to incorporate pre-existing City of Toronto plans into OMERS. The change is effective as of June 24, 2020 and has no impact on plan members.
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(131 KB)
(131 KB)
Plan Amendments to Primary and Supplemental Plans - COVID-19 .pdf
By-Law No. 45 implements three proposals to lessen the burden on plan members resulting from layoffs or leaves of absence to due COVID-19. This by-law is effective June 24, 2020.
By-Law No. 45 implements three proposals to lessen the burden on plan members resulting from layoffs or leaves of absence to due COVID-19. This by-law is effective June 24, 2020.
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(165 KB)
(165 KB)
Other By-Laws
Flat Rate Levy .pdf
By-Law No. 10 provides a mechanism for collecting a fee (in the form of a flat rate levy) from Plan employers and active members to fund Corporation costs that may not be lawfully paid out of a pension
By-Law No. 10 provides a mechanism for collecting a fee (in the form of a flat rate levy) from Plan employers and active members to fund Corporation costs that may not be lawfully paid out of a pension
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(170 KB)
(170 KB)
Shared Risk Indexing Inflation Adjustment .pdf
By-Law No. 20 includes plan text setting the inflation adjustment at 100%, effective January 1, 2023, provides authority for a funding management statement to guide the SC Board’s decision-making, and a contribution allocation policy between NRA 65 and 60.
By-Law No. 20 includes plan text setting the inflation adjustment at 100%, effective January 1, 2023, provides authority for a funding management statement to guide the SC Board’s decision-making, and a contribution allocation policy between NRA 65 and 60.
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(130 KB)
(130 KB)
Statement of Plan Design (SPDOS) - RCA .pdf
By-Law No. 28 outlines the approval of the SC Statement of Plan Design Objectives and Strategy as it pertains to the RCA. Last Approved: June 23, 2015
By-Law No. 28 outlines the approval of the SC Statement of Plan Design Objectives and Strategy as it pertains to the RCA. Last Approved: June 23, 2015
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(332 KB)
(332 KB)
Policies
Confidentiality Policy .pdf
The Confidentiality Policy is intended to provide a high level of transparency and accessibility where appropriate, with the SC Board as a whole determining the appropriate level and timing of disclosure of information. Amended and approved
The Confidentiality Policy is intended to provide a high level of transparency and accessibility where appropriate, with the SC Board as a whole determining the appropriate level and timing of disclosure of information. Amended and approved
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(81 KB)
(81 KB)