OMERS
 | This article needs additional citations for verification. (November 2012) |
| OMERS | |
| Type | Statutory corporation[1] |
| Industry | Pension fund |
| Founded | 1962 |
| Headquarters | EY Tower 900-100 Adelaide Street West Toronto, Ontario M5H 0E2 |
Area served | Participating employers and employees in Ontario, Canada |
Key people | Blake Hutcheson (CEO) George Cooke (Board chair, Administration Corporation) Michael Rolland (CEO, Sponsors Corporation) Frank Ramagnano (Board chair, Sponsors Corporation) |
| OMERS funded status on a smoothed basis was 97% in 2020, unchanged from the prior year. | |
| Total assets | C$121 billion (2021)[2] |
| Owner | The participating employers and employees of the OMERS pension plans |
Number of employees | estimated 1000 |
| Parent | OMERS Administration Corporation Board of Directors |
| Divisions | OMERS Infrastructure OMERS Capital Markets OMERS Private Equity Oxford Properties |
| Website | omers |
The Ontario Municipal Employees Retirement System[3] (OMERS) is a Canadian public pension fund, headquartered in Toronto, Ontario. OMERS is a defined benefit, jointly sponsored, multi-employer public pension plan created in 1962 by Ontario provincial statute to administer retirement benefits and manage pension investment funds of local government employees in the Canadian province of Ontario. As of December 31, 2021[update], OMERS had C$121 billion of assets under management.[2] OMERS serves over 1,000 participating employers and more than half a million active, deferred and retired employees. OMERS members are employed by municipalities, school boards, transit systems, local electrical distribution companies, police service boards, fire fighting and paramedic services, children's aid societies and associated local agencies, boards and commissions.[4]
In 2010, this fund also takes care of the pensions of firefighters, police officers, emergency physicians, employees of the Children's Aid Society, school employees other than teachers, public transport employees and Ontario Hydro employees.[5]
Structure
OMERS is governed by the Ontario Municipal Employee's Retirement Act, 2006, an Ontario law which superseded the older Ontario Municipal Employees Retirement System Act.
Under the 2006 law, OMERS is composed of two statutory corporations:[1]
OMERS Private Equity
In 2019, OMERS ventures launched a $315M European Venture fund, a fully owned subsidiary of OMERS Ventures led by Managing Partner Harry Briggs.[6]
See also
- Pension fund
- Caisse de dépôt et placement du Québec
- CPP Investment Board
- Ontario Teachers' Pension Plan
- Public Sector Pension Investment Board
- Alberta Investment Management Corporation
- OPTrust
External links
References
- ^ a b "Omers Administration Corporation" (PDF). cavalluzzo.com. Retrieved 2020-11-13.
- ^ a b "OMERS reports 2020 results". OMERS. 2021-02-24. Retrieved 2021-02-24.
- ^ "About OMERS". OMERS. Retrieved 2020-09-17.
- ^ "About OMERS". OMERS. Retrieved 2020-09-17.
- ^ "Page Not Found". www.omers.com. Retrieved 2022-08-05.
{{cite web}}: Cite uses generic title (help) - ^ "Omers Ventures outs €300M European fund — Q&A with Managing Partner Harry Briggs". TechCrunch. 25 March 2019. Retrieved 2020-02-06.
- Profile of OMERS Corporation. Bloomberg. 14:18, 15 November 2021 (UTC).
- CS1 errors: generic title
- Articles with short description
- Articles needing additional references from November 2012
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- OMERS
- Organizations based in Toronto
- Economy of Ontario
- Public pension funds in Canada
- Investment companies of Canada
- Local government in Ontario
- Organizations established in 1962
- Private equity firms of Canada
- 1962 establishments in Ontario