The Ontario Municipal Employees Retirement System (OMERS) is a Canadian public

pension fund A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension funds typically have large amounts of money to invest and are the major investors in listed and priva ...

, headquartered in Toronto, Ontario. OMERS is a defined benefit, jointly sponsored, multi-employer public pension plan created in 1962 by

Ontario Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central Ca ...

provincial

statute A statute is a formal written enactment of a legislative authority that governs the legal entities of a city, state, or country by way of consent. Typically, statutes command or prohibit something, or declare policy. Statutes are rules made by le ...

to administer retirement benefits and manage pension investment funds of local government employees in the

Canadian province Within the geographical areas of Canada, the ten provinces and three territories are sub-national administrative divisions under the jurisdiction of the Canadian Constitution. In the 1867 Canadian Confederation, three provinces of British North ...

of Ontario. , OMERS had C$121 billion of assets under management. 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. 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.

Organization

OMERS is governed by the ''Ontario Municipal Employee's Retirement Act, 2006'', an Ontario law which superseded the older ''Ontario Municipal Employees Retirement System Act''.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 corporation A statutory corporation is a government entity created as a statutory body by statute. Their precise nature varies by jurisdiction, thus, they are statutes owned by a government or controlled by national or sub-national government to the (in ...

s. In 2019, OMERS ventures launched a $315M European Venture fund, a fully owned subsidiary of OMERS Ventures led by Managing Partner Harry Briggs. OMERS is a partner of the

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External links

* https://www.omers.com/

References

Profile of OMERS Corporation

Bloomberg Bloomberg may refer to: People * Daniel J. Bloomberg (1905–1984), audio engineer * Georgina Bloomberg (born 1983), professional equestrian * Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and ma ...

. 14:18, 15 November 2021 (UTC). {{Private equity and venture capital 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

Organization

See also

External links

References