The change under consideration removes the current eligibility rules so that all non full time employees, including those who are currently ineligible, could elect to join the Plan at any time after December 31, 2022.
The change being considered is still under review. The final decision will be made by the SC Board in June 2020.
Yes. Today, all employers must offer a non full time employee the option to join the Plan after they meet certain eligibility rules. This change would simply remove these rules so that all non full time employees, including those currently ineligible, could elect to join the Plan any time after December 31, 2022.
No. Employers can currently choose to make Plan membership mandatory for their employees, and some have chosen to do so. For those specific employers and employees, nothing would change.
For other non full time employees, including those currently ineligible, they could elect to join the Plan any time after December 31, 2022.
You could elect to join the Plan at any time after December 31, 2022.
If you elected to join the Plan, your enrolment would be effective on the first day of the month after your election is received. If you chose not to participate right away, you would continue to have the option to enrol in the future.
Once you’ve opted into the Plan, you would not be able to opt out. This is consistent with the current Plan rules.
An employer would not be required to re-offer enrolment to a non full time employee who decided not to join or did not respond to the initial offer of enrolment while they remain employed. A non full time employee who wishes to enrol after the initial offer of enrolment has passed would be able to approach their employer to initiate the enrolment process.
It is recommended that an employer keep a record of the offer of enrolment indefinitely. Maintaining these records helps demonstrate that the offer of enrolment was provided to the non full time employee which can help avoid the need to report an omission period.
If this proposal is approved, it is anticipated that the chance of an omission period occurring would be reduced. However, it would not eliminate them. An employer who does not make an offer of enrolment to a non full time employee would still be required to report an omission period. Employers who build the offer of enrolment into their on-boarding process, and who maintain a record of these offers, would likely reduce the risk of omission periods occurring.
Yes. Contribution rates are the same for non full time and full-time OMERS members. A member gives a percentage of their paycheque to help pay their future pension, and their employer contributes an equal amount.
While this proposal may increase non full time enrolments for employers, the individual impact of this proposal must be assessed by each employer. To determine the impact of the non full time expansion proposal, employers can leverage their current budgeting process for expected non full time enrolments in the Plan for assistance.
When estimating the number of non full time enrolments that may occur in the first few years after the proposal is passed, employers may wish to include an additional buffer to account for existing non full time employees who are not currently eligible to join the Plan but who will become eligible if this proposal is passed.