The Municipal Employer Pension Centre of Ontario (MEPCO) is a non-profit corporation that provides expert advice and resources to AMO’s appointees on the OMERS Sponsors Corporation (SC) and Administration Corporation (AC) Boards. MEPCO was created in 2007 when OMERS was transitioned into a jointly-sponsored pension plan. AMO is named in the Ontario Municipal Employees Retirement System Act, 2006 as a plan sponsor on behalf of municipal employers and holds two seats on each of OMERS’ governing Boards.
Through MEPCO, municipal employers can pool resources and speak with one strong, well-informed voice. Individual municipal governments have little opportunity to directly influence decisions made by OMERS, yet OMERS decisions can have major local impacts. MEPCO helps to fill the gap.
What does MEPCO do?
MEPCO brings the municipal employer perspective to OMERS-related decisions by:
- Analyzing the impact of pension issues on municipal employers.
- Evaluating every proposed Plan change.
- Providing AMO’s appointees to OMERS with advice, tools, professional actuarial and legal advice on Plan design, funding, growth and other matters.
- Keeping MEPCO members informed by issuing regular updates.
- Taking part in the selection process for AMO’s SC and AC appointees.
- Recruiting a strong MEPCO Board membership with a broad spectrum of expertise, including a mix of public and private sector experts and municipal officials.
The Ontario Municipal Employees Retirement System (OMERS) is one of the largest defined benefit pension plans in Canada representing more than 500,000 active members, retirees, and survivors. AMO member municipal governments are OMERS’ largest employer group.
OMERS is governed by two corporate Boards. The Sponsors Corporation (SC) is responsible for Plan design, including changes to contribution rates, and the OMERS Administration Corporation (AC) manages the Plan’s day to day operations, including investment strategy, plan valuation and pension benefit administration. The two Boards are made up of appointees from both employee and employer sponsor organizations. AMO appoints two members to each Board. MEPCO provides AMO’s appointees with key resources, advice and expertise.