Established under the , the Sponsors Corporation (SC) works closely and collaboratively with the Administration Corporation (AC) to represent the interests of sponsors, stakeholders, members and beneficiaries of the .
Our overriding objective is to ensure – through informed decision-making and leading governance practices – that the OMERS Pension Plans remain affordable, meaningful and sustainable in today’s complex and fast-changing world.
This is a simple goal, but a demanding and complex task – all supported by a deeply committed executive team and an experienced Board of Directors nominated by the designated Plan sponsors.
We believe that good governance is the foundation for effective Plan management. To successfully fulfill the SC’s mandate under the OMERS Act, 2006, we have developed a range of effective policies and practices with input and advice from expert third-party advisors.
At the Sponsors Corporation (SC), we are accountable for what we call the “ABCs” of OMERS:
Specifically, we are solely responsible for:
Determining benefit levels and contribution rates for the Plans, and
Setting compensation levels and appointment protocols for both the SC and AC Boards. This includes formal protocols related to the nomination, appointment and reappointment of Directors for both the AC and SC Boards. The intent is to select qualified candidates to provide effective oversight based on, among other things, their considerable experience, proven competencies, sector knowledge, and commitment to the DB pension model.
The Governance Manual documents our governance practices, structures and policies. It is intended primarily for the use and benefit of Directors of the Sponsors Corporation Board and management team. It will also be helpful to the numerous individuals and organizations that have an interest in OMERS, including Plan members, employers, Sponsor Organizations and other Stakeholders.