MEPCO is the mechanism by which municipal employers can influence OMERS and speak with one strong, well-informed voice. MEPCO supports the municipal employer perspective to OMERS-related decisions by:
- Analyzing the impact of pension issues on municipal employers.
- Evaluating and influencing proposed Plan changes.
- Influencing OMERS decision making and planning by ensuring needed skills and experience are brought to the two OMERS Corporations: Sponsors (SC) and Administration (AC).
- Supporting representatives and subsequently the MEPCO membership, with advice, tools, professional actuarial and legal advice on Plan design, funding, growth and other matters.
- Advising MEPCO membership of Plan and related changes through timely communications.
Emerging Priorities for 2021
- Implement 2021 communications plan including key messaging regarding MEPCO positions on OMERS and SC Board initiatives. Undertake, as appropriate, webinars, MEPCO Updates, AWF articles, education events to inform both MEPCO members, municipal councillors, key partners and stakeholders. Extend outreach to non-member municipalities educating on purpose and importance of MEPCO membership.
- Continue to strengthen municipal alignment with sector organizations through information sharing on OMERS issues and initiatives with LUMCO, Regional and Single Tier CAOs and with LUMCO/MARCO political tables.
- Prepare member municipalities that have paramedic services with the information and tools they need to prepare for negotiations about NRA 60 status for paramedics.
- Identify and reach out to OMERS employers to strengthen and align employer perspectives. Align on shared interests through joint advocacy as appropriate.
- Continue strong/positive engagement with OMERS including providing profile at AMO events where appropriate. Increase influence on governance and policy issues:
- a. Continued dialogue between the MEPCO Board and the OAC Board Chair and the OMERS President and CEO;
- b. AMO engagement with OMERS senior OAC/SC staff on OMERS matters to continue joint advocacy and policy work.
- c. Continued joint work through policy analysis and development including on ongoing governance review.
Policy Analysis and Development:
Monitoring/assessing priority OMERS initiatives, including:
- Analyze, understand and communicate changes to plan assumptions or components of the OMERS Investment Strategy, any future proposed Plan changes and their impacts on returning OMERS to full funding and on the Primary Plan Funding Management Strategy (FMS).
- Monitor the performance of the OMERS Investment Strategy (private and capital markets) and the focus on risk management and effectiveness of newly developed OAC risk management statements.
2021 MEPCO Operational Priorities:
1. Undertake a review of MEPCO budget and reserve fund management.
2. Implement governance changes and Board appointment process.
3. Finalize actuarial contract and support.