Value of MEPCO Membership
MEPCO relies on voluntary contributions from municipal governments and Ontario’s district social services administration boards to complete its work. Since all OMERS-participating municipal employers benefit from MEPCO’s work, it is reasonable to expect that they all contribute, and most do. Your support of MEPCO is essential to the success of the OMERS Plan.
MEPCO was created in 2007 when OMERS was transitioned into a jointly-sponsored pension plan. AMO is the legislated plan sponsor on behalf of municipal employers and holds two seats on each of OMERS’ governing Boards. AMO and MEPCO recognize the importance of the jointly sponsored model of governance where key decisions, including plan design and contribution rates, are shared equally by those representing the interests of employers and employees, and where all parties are committed to the long-term success of the OMERS Plan.
MEPCO was established as a separate corporation to support AMO in fulfilling its statutory obligations for two key reasons:
- Not all AMO member municipalities have employees enrolled in in the OMERS Plan; a separate structure ensures OMERS-related activities are tailored to those who are OMERS-participating employers.
- Pension matters require technical advice and resources so the MEPCO Board is comprised of individuals with knowledge and experience of the OMERS Plan and pension matters.
Through MEPCO, we ensure that your voice influences the governance and the administration of the OMERS Plan. We know that OMERS is important to you and to your employees. MEPCO’s top priority is to make sure the OMERS Plan is affordable, sustainable, and meaningful.
As many employee members are represented by labour unions and other employee organizations on OMERS governing Boards, MEPCO provides the opportunity for municipal employers to pool resources and speak with one strong, well-informed voice.