Ontario Municipal Employees Retirement System Act, 2006, S.O. 2006, c. 2

CONTENTS Interpretation 1. Definitions Ontario Municipal Employees Retirement System 2. OMERS continued 3. Primary pension plan 4. Supplemental plans Employer Participation in the Pension Plans 5. Employers generally 6. Associated employers 7. Participation in other plans 8. Termination of participation Restrictions Affecting the Pension Plans 9. Defined benefit plan 10. Optional increases in pension benefits 11. Optional increases, police and fire sectors 12. Employer contributions 13. Cap on contributions by employer for increased benefits 14. Contribution rate, benefits under multiple plans 15. Reserve to stabilize contribution rates Governance and Administration of the Pension Plans 16. Pension plan governance 17. Pension plan administration 18. Pension plan amendments 19. Actuary 20. Auditor 21. Annual report Sponsors Corporation 21.1 Winding up the Sponsors Corporation 22. Sponsors Corporation established 22. Sponsors Council 23. Composition 23. Objects 24. Objects 24. Members to act honestly and in good faith 25. Powers 25. Composition of Sponsors Council 25.1 By-laws 25.2 Initial by-laws 26. Procedural and other requirements for decisions 27. Recovery of costs 28. Fees to fund other activities 30. Annual audit 31. Annual report Administration Corporation 32. Administration Corporation continued 33. Composition 33.1 Appointment of Chair 34. Objects 35. Powers 35.1 Authorized subsidiaries of the Administration Corporation 35.2 Authorization to provide eligible services 36. Limitations on remedies 37. Crown liability 38. No personal liability, Sponsors Corporation 39. Proceedings barred 40. Regulations Interpretation Definitions 1 (1) In this Act, “Administration Corporation” means the corporation continued by subsection 32 (1); (“Société d’administration”) “annual benefit accrual rate” has the same meaning as under the Income Tax Act (Canada); (“taux annuel d’accumulation des prestations”) “associated employer” means an employer who participates in an OMERS pension plan under subsection 6 (1); (“employeur associé”) “benefits” means pension benefits and ancillary benefits, unless the context requires otherwise; (“prestations”) “local board” means local board as defined in section 1 of the Municipal Affairs Act and includes any person or entity that, under another Act, is deemed to be a local board for the purposes of this Act; (“conseil local”) “OMERS” means the Ontario Municipal Employees Retirement System; (“OMERS”) “OMERS pension plans” means the primary pension plan, any retirement compensation arrangements that provide benefits for members, former members and retired members of the OMERS pension plans and such other pension plans as may be established by the Sponsors Corporation; (“régimes de retraite d’OMERS”) Note: On a day to be named by order of the Lieutenant Governor in Council, the definition of “OMERS pension plans” in subsection 1 (1) of the Act is amended by striking out “Sponsors Corporation” at the end and substituting “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 1 (1)) “prescribed” means prescribed by the regulations; (“prescrit”) “primary pension plan” means the pension plan continued by subsection 3 (1); (“régime de retraite principal”) “regulations” means the regulations made under this Act; (“règlements”) “retirement compensation arrangement” means retirement compensation arrangement as defined in subsection 248 (1) of the Income Tax Act (Canada); (“convention de retraite”) “Sponsors Corporation” means the corporation established by subsection 22 (1); (“Société de promotion”) Note: On a day to be named by order of the Lieutenant Governor in Council, the definition of “Sponsors Corporation” in subsection 1 (1) of the Act is repealed and the following substituted: (See: 2025, c. 15, Sched. 13, s. 1 (3)) “Sponsors Corporation” means the corporation that was dissolved by an order made under subsection 21.1 (9), as that subsection read immediately before it was repealed; (“Société de promotion”) Note: On a day to be named by order of the Lieutenant Governor in Council, subsection 1 (1) of the Act is amended by adding the following definition: (See: 2025, c. 15, Sched. 13, s. 1 (4)) “Sponsors Council” means the council established by subsection 22 (1); (“Conseil de promotion”) “supplemental plan” means a pension plan that is a supplemental plan as defined in the regulations under the Income Tax Act (Canada). (“régime complémentaire”) 2006, c. 2, s. 1 (1); 2012, c. 8, Sched. 42, s. 1; 2025, c. 15, Sched. 13, s. 1 (2). Interpretation, pension matters (2) Words and expressions used in this Act that relate to pension plans and pension funds have the same meaning as under the Pension Benefits Act, unless the context requires otherwise. 2006, c. 2, s. 1 (2). Same, municipal matters (3) Words and expressions used in this Act that relate to municipal matters have the same meaning as under the Municipal Act, 2001, unless the context requires otherwise. 2006, c. 2, s. 1 (3). Police and fire sectors (4) A reference in this Act to persons who are employed in the police and fire sectors is a reference to OMERS pension plan members who are members of a police service as defined in subsection 2 (1) of the Community Safety and Policing Act, 2019 or who are employed as firefighters as defined in subsection 1 (1) of the Fire Protection and Prevention Act, 1997 or as paramedics as defined in subsection 1 (1) of the Ambulance Act. 2006, c. 2, s. 1 (4); 2019, c. 1, Sched. 4, s. 40. References to “Sponsors Council” (5) For the purposes of this Act, before the day section 11 of Schedule 13 to the Plan to Protect Ontario Act (Budget Measures), 2025 (No. 2) comes into force, a reference to the “Sponsors Council” is a reference to the council to be established under subsection 22 (1), as re-enacted by section 11 of Schedule 13 to the Plan to Protect Ontario Act (Budget Measures), 2025 (No. 2). 2025, c. 15, Sched. 13, s. 1 (5). Note: On a day to be named by order of the Lieutenant Governor in Council, subsection 1 (5) is repealed. (See: 2025, c. 15, Sched. 13, s. 1 (6)) Section Amendments with date in force (d/m/y) 2012, c. 8, Sched. 42, s. 1 - 01/07/2012 2018, c. 3, Sched. 5, s. 42 - no effect - see 2019, c. 1, Sched. 3, s. 5 - 26/03/2019 2019, c. 1, Sched. 4, s. 40 - 01/04/2024 2025, c. 15, Sched. 13, s. 1 (1, 3, 4, 6)- not in force; 2025, c. 15, Sched. 13, s. 1 (2, 5) - 26/11/2025 Ontario Municipal Employees Retirement System OMERS continued 2 The Ontario Municipal Employees Retirement System is continued and is composed of the OMERS pension plans. 2006, c. 2, s. 2. Primary pension plan 3 (1) The pension plan that is governed by the Ontario Municipal Employees Retirement System Act immediately before that Act is repealed is continued as the primary pension plan. 2006, c. 2, s. 3 (1). Transition: terms and conditions (2) On the day the Ontario Municipal Employees Retirement System Act is repealed, the terms and conditions of the primary pension plan are the terms and conditions that were in effect under that Act immediately before it was repealed. 2006, c. 2, s. 3 (2). Pension Funds (3) The pension funds that are governed by the Ontario Municipal Employees Retirement System Act immediately before that Act is repealed are continued. 2006, c. 2, s. 3 (3). Retirement compensation arrangements (4) Any retirement compensation arrangements that provide benefits for members, former members and retired members of the OMERS pension plans that are in effect on the day the Ontario Municipal Employees Retirement System Act is repealed are continued and have the terms and conditions that were in effect immediately before that Act was repealed. 2006, c. 2, s. 3 (4); 2012, c. 8, Sched. 42, s. 2. Section Amendments with date in force (d/m/y) 2012, c. 8, Sched. 42, s. 2 - 01/07/2012 Supplemental plans 4 (1) The Sponsors Corporation may establish one or more supplemental plans for the purpose of providing optional benefits to members, former members and retired members of the primary pension plan who are, or were, employed in the police and fire sectors or to other members, former members and retired members of the primary pension plan. 2006, c. 2, s. 4 (1); 2012, c. 8, Sched. 42, s. 3. Note: On a day to be named by order of the Lieutenant Governor in Council, subsection 4 (1) of the Act is amended by striking out “Sponsors Corporation” and substituting “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 2) Restriction on use of primary pension plan assets (2) No assets of the primary pension plan shall be used for the purpose of paying any optional benefit under a supplemental plan or funding the payment of any other liability of a supplemental plan. 2006, c. 2, s. 4 (2). Section Amendments with date in force (d/m/y) 2012, c. 8, Sched. 42, s. 3 - 01/07/2012 2025, c. 15, Sched. 13, s. 2 - not in force Employer Participation in the Pension Plans Employers generally 5 (1) Each of the following employers may participate in the OMERS pension plans in respect of its eligible employees: 1. A municipality. 2. A local board other than a hospital board that operates a public hospital, within the meaning of the Public Hospitals Act, on behalf of a municipality. 3. A conservation authority within the meaning of the Conservation Authorities Act. 4. A district social services administration board within the meaning of the District Social Services Administration Boards Act. 5. Repealed: 2019, c. 14, Sched. 7, s. 16. 6. An association of municipalities or local boards. 7. An association of the officials or employees of municipalities or local boards. 8. The Crown. 9. The Sponsors Corporation. Note: On a day to be named by order of the Lieutenant Governor in Council, paragraph 9 of subsection 5 (1) of the Act is repealed. (See: 2025, c. 15, Sched. 13, s. 3) 10. The Administration Corporation. 2006, c. 2, s. 5 (1); 2019, c. 14, Sched. 7, s. 16. Same (2) A municipality may participate in the OMERS pension plans in respect of its councillors. 2006, c. 2, s. 5 (2). Eligible employees (3) For the purposes of this section and section 7, “eligible employee” means, in respect of an employer, a person who is employed by the employer but not a person who contributes to a pension plan under the Ontario Public Service Employees’ Union Pension Act, 1994, the Public Service Pension Act or the Teachers’ Pension Act. 2006, c. 2, s. 5 (3). Section Amendments with date in force (d/m/y) 2010, c. 26, Sched. 14, s. 1 - no effect - see Table of Public Statute Provisions Repealed Under Section 10.1 of the Legislation Act, 2006 - 31/12/2020 2019, c. 14, Sched. 7, s. 16 - 10/12/2019 2025, c. 15, Sched. 13, s. 3 - not in force Associated employers 6 (1) Each of the following employers may participate in the OMERS pension plans on such conditions as may be agreed upon by the employer and the Sponsors Corporation: Note: On a day to be named by order of the Lieutenant Governor in Council, subsection 6 (1) of the Act is amended by striking out “Sponsors Corporation” in the portion before paragraph 1 and substituting “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 4) 1. A person who, under an agreement with a municipality or local board or under an Act, provides a service, program or thing to a person that the municipality or local board is authorized to provide to the person. 2. A corporation incorporated in accordance with section 142 of the Electricity Act, 1998 for the purpose of generating, transmitting, distributing or retailing electricity. 3. A person or association of persons that, immediately before the repeal of the Ontario Municipal Employees Retirement System Act, was designated by the Lieutenant Governor in Council for the purposes of clause (c) of the definition of “associated employer” in subsection 1 (1) of that Act or that, immediately before the repeal of that Act, was deemed by another Act to have been so designated. 2006, c. 2, s. 6 (1). Eligible employees of associated employers (2) The following employees of an associated employer are eligible to be members of the OMERS pension plans: 1. For an employer described in paragraph 1 of subsection (1), an employee whose duties relate primarily to the provision of the service, program or thing provided by the employer on behalf of the municipality or local board. 2. For an employer described in paragraph 2 of subsection (1), an employee whose duties relate primarily to the activities referred to in that paragraph. 3. For an employer described in paragraph 3 of subsection (1), every employee. 2006, c. 2, s. 6 (2). Same (3) For the purposes of paragraphs 1 and 2 of subsection (2), the employee’s duties may include administrative activities relating to the provision of the service, program or thing or the performance of the employer’s duties, as the case may be. 2006, c. 2, s. 6 (3). Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 4 - not in force Participation in other plans 7 (1) Despite any other Act, a municipality or a local board shall not make a contribution for the provision of a pension to any of its eligible employees unless the contribution is made under the Canada Pension Plan or to an OMERS pension plan. 2006, c. 2, s. 7 (1). Approved pension plans (2) Despite subsection (1), a municipality or local board may make a contribution under another pension plan for the provision of a pension to an eligible employee if all of the following circumstances exist: 1. The pension plan was established by a municipality or local board under a general or special Act and was in effect on the applicable date described in paragraph 4. 2. The employee became employed by the municipality or local board before the applicable date described in paragraph 4. 3. The contribution is made in respect of the employee’s service before he or she becomes entitled to be a member of the primary pension plan. 4. For a contribution made under a collective agreement, the applicable date is the earlier of July 1, 1968 or the date on which the agreement is terminated. For any other contribution, the applicable date is July 1, 1965. 2006, c. 2, s. 7 (2). Interpretation (3) A payment by a municipality or local board to an associated employer with respect to the service, program or thing provided on its behalf by the employer does not constitute a contribution for the provision of a pension to an employee of that employer. 2006, c. 2, s. 7 (3). 7.1 Section Amendments with date in force (d/m/y) 2016, c. 17, s. 93 - no effect - see: 2016, c. 37, Sched. 18, s. 5 - 08/12/2016 Termination of participation 8 (1) An employer who is described in paragraphs 1 to 7 or paragraph 9 or 10 of subsection 5 (1) is not entitled to terminate its participation in an OMERS pension plan unless it has the consent of the Sponsors Corporation. 2006, c. 2, s. 8 (1). Note: On a day to be named by order of the Lieutenant Governor in Council, subsection 8 (1) of the Act is amended by striking out “or paragraph 9 or 10” and substituting “or paragraph 10” and by striking out “Sponsors Corporation” at the end and substituting “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 5 (1)) By-law (2) An employer who is described in paragraphs 1 to 7 or paragraph 9 or 10 of subsection 5 (1) shall not pass a by-law providing for the termination of its participation in an OMERS pension plan except upon such terms as may be established by the Sponsors Corporation. 2006, c. 2, s. 8 (2). Note: On a day to be named by order of the Lieutenant Governor in Council, subsection 8 (2) of the Act is amended by striking out “or paragraph 9 or 10” and substituting “or paragraph 10” and by striking out “Sponsors Corporation” at the end and substituting “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 5 (2)) Section Amendments with date in force (d/m/y) 2010, c. 26, Sched. 14, s. 2 - no effect - see Table of Public Statute Provisions Repealed Under Section 10.1 of the Legislation Act, 2006 - 31/12/2020 2025, c. 15, Sched. 13, s. 5 (1, 2) - not in force Restrictions Affecting the Pension Plans Defined benefit plan 9 The primary pension plan must be a defined benefit plan. 2006, c. 2, s. 9. Optional increases in pension benefits 10 An optional pension benefit for members of the primary pension plan in respect of which the annual benefit accrual rate is greater than 2.0 per cent and less than or equal to 2.33 per cent must be implemented using a supplemental plan and not the primary pension plan. 2006, c. 2, s. 10. Optional increases, police and fire sectors 11 (1) Despite any other provision of this Act, the Administration Corporation shall amend the OMERS pension plans to provide optional increases in benefits for members of the primary pension plan who are employed in the police and fire sectors and establish the contribution rates for the benefits. 2006, c. 2, s. 11 (1). Same (2) The amendment required by this section shall be made within 24 months after the day this section comes into force. 2006, c. 2, s. 11 (2). Method of calculating benefits (3) A supplemental plan established under this section shall make provision for all of the following: 1. An annual benefit accrual rate that is 2.33 per cent for members under the supplemental plan. 2. The payment of pension benefits to members of the supplemental plan in which the annual amount of pension is not reduced because a member retires before the member’s normal retirement age of 65 years if, at the date of retirement, the sum of the member’s age, counted in full and part years, plus the member’s service, counted in full and part years, equals at least 85 years. 3. The pension benefits payable to members under circumstances described in paragraph 2 shall begin to be paid not more than 10 years before the member’s normal retirement age. 4. The payment of pension benefits to members of the supplemental plan in which the annual amount of pension is not reduced because a member retires before the member’s normal retirement age of 60 years if, at the date of retirement, the sum of the member’s age, counted in full and part years, plus the member’s service, counted in full and part years, equals at least 80 years. 5. The pension benefit payable to members under circumstances described in paragraph 4 shall begin to be paid not more than 10 years before the member’s normal retirement age. 6. The pension benefit payable to members of the supplemental plan is calculated based on the average annual earnings of the members over a period of service of three years, but the average may be less than three years for members with service of less than three years. 7. The pension benefit payable to members of the supplemental plan is calculated based on the average annual earnings of the members over a period of service of four years, but the average may be less than four years for members with service of less than four years. 8. The option for a member to elect to purchase credit in the supplemental plan for a benefit described in paragraph 1, 2, 4, 6 or 7 in respect of the member’s service before the date the employer of the member consents to provide the benefit under the supplemental plan. 2006, c. 2, s. 11 (3). Consent of employer (4) A supplemental plan established under this section shall not authorize a contribution in respect of or provide for a type of benefit for any members who are employees of an employer participating in the OMERS pension plans unless the employer consents to provide that type of benefit to the members. 2006, c. 2, s. 11 (4). Same (5) In a consent under subsection (4), an employer may consent to provide a benefit or benefits under only one of the following paragraphs: 1. A benefit described in paragraph 1 of subsection (3). 2. The benefits described in paragraphs 2 and 4 of subsection (3). 3. A benefit described in paragraph 6 of subsection (3). 4. A benefit described in paragraph 7 of subsection (3). 2006, c. 2, s. 11 (5). Same (6) An employer may consent to provide an additional benefit listed in any of paragraphs 1 to 4 of subsection (5) that the employer has not previously consented to provide, but not until at least 36 months has passed since the employer previously consented to provide an additional benefit under subsection (5) or this subsection. 2006, c. 2, s. 11 (6). Amount of benefit under supplemental plan (7) The amount of a benefit available to a member under the primary pension plan shall be deducted from the amount of a benefit available to a member under a supplemental plan described in subsection (3) and the cost of credit or contributions for the benefit under the supplemental plan shall be reduced accordingly. 2006, c. 2, s. 11 (7). Election to purchase credit for benefit in supplemental plan (8) A member may elect to purchase credit for a benefit in a supplemental plan described in paragraph 8 of subsection (3) only if, (a) the member is employed by an employer participating in the OMERS pension plans who has consented to provide the benefit; (b) the member makes the election within 24 months after the date the employer consented to provide the benefit; and (c) the member makes the election to purchase credit for the benefit subject to any conditions determined by the Administration Corporation on the advice of the actuary. 2006, c. 2, s. 11 (8). Same (9) Subject to subsection (7), the purchase cost of a credit for a benefit described in paragraph 8 of subsection (3) shall be equal to the present value of that benefit. 2006, c. 2, s. 11 (9). Employer contributions 12 (1) The total amount of the contributions payable to any of the OMERS pension plans by an employer for a year must equal the total amount of the contributions payable to the pension plan for the year by the employer’s employees. 2006, c. 2, s. 12 (1). Exception (2) Despite subsection (1), the Sponsors Corporation may amend any of the OMERS pension plans to authorize unequal amounts of contributions to be made by employers and employees for one or more years if, (a) after the amendment, the contribution rates for employers and employees for each class of benefit under the OMERS pension plans are equal; and (b) the Sponsors Corporation is of the opinion that it is fair and reasonable to make the amendment. 2006, c. 2, s. 12 (2). Note: On a day to be named by order of the Lieutenant Governor in Council, subsection 12 (2) of the Act is amended by striking out “Sponsors Corporation” wherever it appears and substituting in each case “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 6 (1)) Application (3) Subsection (1) does not apply in respect of contributions payable to a pension plan for a year if, (a) the amount of the contributions are in accordance with the terms and conditions of the pension plan as it was governed by the Ontario Municipal Employees Retirement System Act immediately before that Act was repealed, and those terms and conditions have not been amended by the Sponsors Corporation; or Note: On a day to be named by order of the Lieutenant Governor in Council, clause 12 (3) (a) of the Act is amended by adding “or the Sponsors Council” after “Sponsors Corporation”. (See: 2025, c. 15, Sched. 13, s. 6 (2)) (b) the only reason that the total amount of the contributions payable by the employer does not equal the total amount of the contributions payable by the employer’s employees is because one or more employees made contributions to a supplemental plan in respect of pensionable service described in paragraph 8 of subsection 11 (3). 2006, c. 2, s. 12 (3). Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 6 (1, 2) - not in force Cap on contributions by employer for increased benefits 13 (1) If, under a supplemental plan, a municipality or local board may provide an optional pension benefit for its employees in respect of which the annual benefit accrual rate is greater than 2.0 per cent and less than or equal to 2.33 per cent (the “increased benefit”), the municipality or local board may make contributions to the plan for the increased benefit in respect of the employees’ service on or after the date on which the municipality or local board decides to provide the increased benefit, but not in respect of service before that date. 2006, c. 2, s. 13 (1). Same (2) Nothing in subsection (1) prevents an employee from making payments to an OMERS pension plan in respect of the service of the employee before the date on which the municipality or local board decides to provide the increased benefit. 2006, c. 2, s. 13 (2). Contribution rate, benefits under multiple plans 14 In determining the required contribution rate for the primary pension plan and for any retirement compensation arrangement to be paid by the members of the primary pension plan who are also members of a supplemental pension plan and by their employers, the actuary shall use best estimate assumptions to assess the likely impact of the benefits provided by the supplemental plan on the required contribution rate that would otherwise be payable. 2006, c. 2, s. 14. Reserve to stabilize contribution rates 15 (1) The Sponsors Corporation shall not amend the primary pension plan in a manner which reduces contributions or increases going concern liabilities unless, after the amendment, the ratio of the market value of the assets of the pension fund to the going concern liabilities is not less than 1.05 and the ratio of the solvency assets to the solvency liabilities is not less than 1.00. 2006, c. 2, s. 15 (1). Note: On a day to be named by order of the Lieutenant Governor in Council, subsection 15 (1) of the Act is amended by striking out “Sponsors Corporation” and substituting “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 7) Exception (2) Subsection (1) does not apply with respect to an amendment that is required to comply with a federal or provincial law or an amendment that does not increase going concern liabilities by more than 1 per cent. 2006, c. 2, s. 15 (2). Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 7 - not in force Governance and Administration of the Pension Plans Pension plan governance 16 (1) The Sponsors Corporation shall determine the terms and conditions of the OMERS pension plans, subject to the restrictions set out in this Act. 2006, c. 2, s. 16 (1). Information (2) The Administration Corporation shall give the Sponsors Corporation such information as the Sponsors Corporation may reasonably request for the purpose of carrying out its objects under this Act. 2006, c. 2, s. 16 (2). Note: On a day to be named by order of the Lieutenant Governor in Council, section 16 of the Act is amended by striking out “Sponsors Corporation” wherever it appears and in each case substituting “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 8) Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 8 - not in force Pension plan administration 17 (1) The Administration Corporation shall act as administrator of the OMERS pension plans and trustee of the pension funds. 2006, c. 2, s. 17 (1). Actuarial assumptions (2) The actuarial methods and assumptions to be used for the purposes of administering the pension plans and pension funds are to be determined by the Administration Corporation, based upon recommendations from the actuary. 2006, c. 2, s. 17 (2). Pension plan amendments 18 The Sponsors Corporation may amend the OMERS pension plans, including the contribution rates for employees, subject to the restrictions set out in this Act. 2006, c. 2, s. 18. Note: On a day to be named by order of the Lieutenant Governor in Council, section 18 of the Act is amended by striking out “Sponsors Corporation” and substituting “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 9) Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 9 - not in force Actuary 19 (1) The Administration Corporation shall appoint a Fellow of the Canadian Institute of Actuaries to act as the actuary for the OMERS pension plans. 2006, c. 2, s. 19 (1). Reports and recommendations (2) The actuary shall give the Administration Corporation such information and reports as the Administration Corporation may request, and shall make such recommendations to the Administration Corporation as the actuary considers advisable for the proper administration of the pension plans. 2006, c. 2, s. 19 (2). Auditor 20 The Administration Corporation shall appoint one or more persons licensed under the Public Accounting Act, 2004 to audit the accounts and transactions of the OMERS pension plans each year and to express an opinion on the financial statements for the pension plans based on the audit. 2006, c. 2, s. 20. Annual report 21 (1) Every year, the Administration Corporation shall prepare a report on the affairs of the OMERS pension plans during the preceding year and the report must contain a copy of the financial statements as certified by the auditor. 2006, c. 2, s. 21 (1). Same (2) The Administration Corporation shall give a copy of the annual report to every employer participating in the pension plans and to any member, former member or retired member of the plans who requests it. 2006, c. 2, s. 21 (2); 2012, c. 8, Sched. 42, s. 4. Section Amendments with date in force (d/m/y) 2012, c. 8, Sched. 42, s. 4 - 01/07/2012 Sponsors Corporation Winding up the Sponsors Corporation 21.1 (1) The Minister of Municipal Affairs and Housing may, by order, require the Sponsors Corporation to wind up the affairs of the Sponsors Corporation and may, by order, specify terms relating to the winding up of the corporation, including the time within which it shall be completed. 2025, c. 15, Sched. 13, s. 10 (1). Duty of Sponsors Corporation (2) The Sponsors Corporation shall prepare and, by resolution, adopt a plan for winding up the Sponsors Corporation. 2025, c. 15, Sched. 13, s. 10 (1). Plan (3) The plan for winding up the Sponsors Corporation may provide for, (a) liquidating assets; (b) transferring assets, liabilities, rights, obligations and employees, including specifying to whom they are transferred; and (c) any other matter relating to the winding up of the Sponsors Corporation. 2025, c. 15, Sched. 13, s. 10 (1). Requirement to give adopted plan to Minister (4) The Sponsors Corporation shall, if the Minister so requests, give the adopted plan to the Minister in the manner, form and timelines specified by the Minister. 2025, c. 15, Sched. 13, s. 10 (1). Minister approval (5) If the Sponsors Corporation is required to give the Minister the plan, the Minister may approve the plan, approve the plan with such modifications as the Minister considers appropriate or require the Sponsors Corporation to prepare another plan. 2025, c. 15, Sched. 13, s. 10 (1). Requirement to wind up (6) The Sponsors Corporation shall wind up the affairs of the Sponsors Corporation and transfer its assets, liabilities, rights, obligations and employees, including transferring the proceeds from the liquidation of assets, in accordance with the plan and the Minister’s order under subsection (1). 2025, c. 15, Sched. 13, s. 10 (1). Same (7) For the purposes of subsection (6), (a) if the Minister has approved the plan under subsection (5), the reference to the plan in subsection (6) is a reference to the approved plan; or (b) if the Minister has not requested the Sponsors Corporation to give the plan to the Minister under subsection (4) or if the Minister has done so but has not approved the plan within 90 days after the plan was submitted or by such other day as may be prescribed, the reference to the plan in subsection (6) is a reference to the plan that is adopted by the Sponsors Corporation. 2025, c. 15, Sched. 13, s. 10 (1). Same (8) If the Minister has provided notice that the Minister will not be requesting the plan, the Sponsors Corporation shall commence the windup of the Sponsors Corporation in accordance with the adopted plan and the Minister’s order under subsection (1). 2025, c. 15, Sched. 13, s. 10 (1). Dissolution of Sponsors Corporation (9) The Minister may, by order, dissolve the Corporation as of the date specified in the order. 2025, c. 15, Sched. 13, s. 10 (1). Non-application of Legislation Act, 2006, Part III (10) Part III (Regulations) of the Legislation Act, 2006 does not apply to an order of the Minister made under subsection (1) or (9). 2025, c. 15, Sched. 13, s. 10 (1). Note: On a day to be named by order of the Lieutenant Governor in Council, section 21.1 of the Act is repealed. (See: 2025, c. 15, Sched. 13, s. 10 (2)) Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 10 (1) - 27/11/2025; 2025, c. 15, Sched. 13, s. 10 (2) - not in force Sponsors Corporation established 22 (1) A corporation to be known in English as the OMERS Sponsors Corporation and in French as Société de promotion d’OMERS is established as a corporation without share capital and is composed of its members. 2006, c. 2, s. 22 (1). Status (2) The Sponsors Corporation is not a Crown agency and it is not a local board as defined in subsection 1 (1) of the Municipal Act, 2001. 2006, c. 2, s. 22 (2). Corporate matters (3) Section 132 (conflict of interest), subsection 134 (1) (standard of care) and section 136 (indemnification) of the Business Corporations Act apply, with necessary modifications, to the Sponsors Corporation and its members. 2006, c. 2, s. 22 (3). Same (4) The Not-for-Profit Corporations Act, 2010 and the Corporations Information Act do not apply to the Sponsors Corporation. 2017, c. 20, Sched. 8, s. 114 (1). Note: On a day to be named by order of the Lieutenant Governor in Council, section 22 of the Act is repealed and the following substituted: (See: 2025, c. 15, Sched. 13, s. 11) Sponsors Council 22 (1) A council to be known in English as the Sponsors Council and in French as Conseil de promotion is established. 2025, c. 15, Sched. 13, s. 11. Status (2) The Sponsors Council is not, (a) a Crown agency; or (b) a local board as defined in subsection 1 (1) of the Municipal Act, 2001, except for such purposes as may be prescribed. 2025, c. 15, Sched. 13, s. 11. Regulations re establishment of Sponsors Council (3) The establishment of the Sponsors Council under subsection (1) shall be carried out in accordance with such requirements or transitional rules as may be provided for in the regulations. 2025, c. 15, Sched. 13, s. 11. Continued effect of things done by Sponsors Corporation (4) Any thing done by the Sponsors Corporation in the exercise of its powers under this Act before it was dissolved under subsection 22.1 (9) and that was in effect on the day before the day section 11 of Schedule 13 to the Plan to Protect Ontario Act (Budget Measures), 2025 (No. 2) came into force, including but not limited to anything established, agreed upon, determined or decided by the Sponsors Corporation, is deemed to still be in effect as of the day that section comes into force and shall be treated as if it had been done by the Sponsors Council. 2025, c. 15, Sched. 13, s. 11. Section Amendments with date in force (d/m/y) 2017, c. 20, Sched. 8, s. 114 (1) - 19/10/2021 2025, c. 15, Sched. 13, s. 11 - not in force Composition 23 (1) The composition of the Sponsors Corporation and the method of choosing its members is as specified by by-law. 2006, c. 2, s. 23 (1). (2) Repealed: 2006, c. 2, s. 55. Eligibility (3) A person who is a member of the Administration Corporation is not eligible to hold office as a member of the Sponsors Corporation or to be appointed to any committee established for the purpose of advising the Sponsors Corporation. 2006, c. 2, s. 23 (3). Term of office (4) The term of office of each member of the Sponsors Corporation is as determined by by-law. 2006, c. 2, s. 23 (4). Remuneration and expenses (5) Members of the Sponsors Corporation are to be paid such remuneration and expenses as may be authorized by by-law. 2006, c. 2, s. 23 (5). Regulations (6) The Minister of Municipal Affairs and Housing may make regulations governing the composition of the Sponsors Corporation, including prescribing the method of choosing any of its members and providing that their appointment is for a specified term not to exceed three years. 2025, c. 15, Sched. 13, s. 12 (1). Note: On a day to be named by order of the Lieutenant Governor in Council, subsection 23 (6) of the Act is repealed. (See: 2025, c. 15, Sched. 13, s. 12 (2)) Conflict (7) Any by-law referred to in this section is without effect to the extent that it conflicts with a regulation made under subsection (6). 2025, c. 15, Sched. 13, s. 12 (1). Note: On a day to be named by order of the Lieutenant Governor in Council, subsection 23 (7) of the Act is repealed. (See: 2025, c. 15, Sched. 13, s. 12 (2)) Note: On a day to be named by order of the Lieutenant Governor in Council, section 23 of the Act is repealed and the following substituted: (See: 2025, c. 15, Sched. 13, s. 13) Objects 23 (1) The following are the objects of the Sponsors Council: 1. To make decisions about the design of benefits to be provided by, and contributions to be made to, the OMERS pension plans. 2. To perform such other duties as may be provided under this Act. 3. Such other objects as may be prescribed. 2025, c. 15, Sched. 13, s. 13. Same (2) For furthering its objects, the Sponsors Council may, (a) make decisions about the design of the OMERS pension plans and make amendments to the OMERS pension plans; (b) set contribution rates under the pension plans; (c) decide whether to file a valuation more frequently than is required under the Pension Benefits Act; (d) receive reports from the Administration Corporation; and (e) do such other things as may be prescribed. 2025, c. 15, Sched. 13, s. 13. Section Amendments with date in force (d/m/y) 2006, c. 2, s. 55 - 31/12/2009 2025, c. 15, Sched. 13, s. 12 (1) - 26/11/2025; 2025, c. 15, Sched. 13, s. 12 (2), 13 - not in force Objects 24 The following are objects of the Sponsors Corporation: 1. To make decisions about the design of benefits to be provided by, and contributions to be made to, the OMERS pension plans. 2. To perform such other duties as may be provided under this Act. 2006, c. 2, s. 24. Note: On a day to be named by order of the Lieutenant Governor in Council, section 24 of the Act is repealed and the following substituted: (See: 2025, c. 15, Sched. 13, s. 13) Members to act honestly and in good faith 24 Every member of the Sponsors Council, in exercising their powers and discharging their duties, shall, (a) act honestly and in good faith with a view to balancing the best interests of the plan members and participating employers; and (b) exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances. 2025, c. 15, Sched. 13, s. 13. Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 13 - not in force Powers 25 (1) The Sponsors Corporation has the capacity, rights, powers and privileges of a natural person for carrying out its objects, subject to the restrictions set out in this Act. 2006, c. 2, s. 25 (1). Same (2) For furthering its objects and without limiting the generality of subsection (1), the Sponsors Corporation may, (a) make decisions about the design of the OMERS pension plans and make amendments to the OMERS pension plans; (b) set contribution rates under the pension plans; (c) decide whether to file a valuation more frequently than is required under the Pension Benefits Act; (d) receive reports from the Administration Corporation. 2006, c. 2, s. 25 (2). By-laws (3) The Sponsors Corporation may pass by-laws and resolutions regulating its proceedings and for the conduct and management of its affairs. 2006, c. 2, s. 25 (3). Note: On a day to be named by order of the Lieutenant Governor in Council, section 25 of the Act is repealed and the following substituted: (See: 2025, c. 15, Sched. 13, s. 13) Composition of Sponsors Council Initial composition 25 (1) The composition of the Sponsors Council on the day section 11 of Schedule 13 to the Plan to Protect Ontario Act (Budget Measures), 2025 (No. 2) comes into force is comprised of the following: 1. 14 persons who are appointed, in accordance with such rules as may be prescribed, as voting members by the prescribed organizations. 2. Five persons who are appointed, in accordance with such rules as may be prescribed, as non-voting members by the prescribed organizations. 2025, c. 15, Sched. 13, s. 13. Same (2) An organization prescribed for the purposes of subsection (1) shall not appoint, (a) a person who is or has been a member of the Administration Corporation or of a committee established for the purpose of advising the Administration Corporation; or (b) a person who has been a member of the Sponsors Corporation or of a committee established for the purpose of advising the Sponsors Corporation. 2025, c. 15, Sched. 13, s. 13. Composition after initial appointment (3) Beginning on the day after section 11 of Schedule 13 to the Plan to Protect Ontario Act (Budget Measures), 2025 (No. 2) comes into force, the composition of the Sponsors Council shall be determined in accordance with the Sponsor Council’s by-laws. 2025, c. 15, Sched. 13, s. 13. Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 13 - not in force By-laws 25.1 (1) The Sponsors Council may pass by-laws and resolutions regulating, (a) its proceedings and generally for the conduct and management of its affairs; and (b) its composition and the method of choosing its members. 2025, c. 15, Sched. 13, s. 13. Same (2) Without limiting the generality of subsection (1), the Sponsors Council may make by-laws respecting, (a) the election or appointment of voting and non-voting members, eligibility and competency requirements of members, their term of office and the number of members to be elected or appointed; (b) the weight of the votes by voting members; (c) the election or appointment of one or more chairs and their terms of office; (d) quorum; (e) the remuneration and expenses to be paid to the members; (f) the calling and holding of meetings of the Sponsors Council, and the procedures by which such meetings shall be conducted and the giving of notice for such meetings; (g) materials to be provided to any members who are not eligible to vote; (h) consultations between the Sponsors Council and others, and the sharing of documentation for the purposes of those consultations; (i) matters on which the Sponsors Council must report and to whom they must be reported; (j) matters that the Sponsors Council must review and how often they must be reviewed; (k) committees to be established for the purpose of advising the Sponsors Council; and (l) insurance for members of the Sponsors Council. 2025, c. 15, Sched. 13, s. 13. Prescribed requirements (3) Any resolution or by-law passed by the Sponsors Council respecting any matter mentioned in subsection (1) or (2) shall comply with such requirements as may be prescribed respecting the matter. 2025, c. 15, Sched. 13, s. 13. Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 13 - not in force Initial by-laws 25.2 (1) The Administration Corporation shall prepare the Sponsors Council’s initial by-laws, which shall be for the purposes of governing the proceedings and generally for the conduct and management of the Sponsor Council’s affairs and the composition and method of choosing its members. 2025, c. 15, Sched. 13, s. 14. Compliance with regulations (2) The initial by-laws must comply with such requirements as may be prescribed. 2025, c. 15, Sched. 13, s. 14. Requirement to give initial by-laws to Minister (3) The Administration Corporation shall, if the Minister of Municipal Affairs and Housing so requests, give the initial by-laws to the Minister in the manner, form and timelines specified by the Minister. 2025, c. 15, Sched. 13, s. 14. Minister approval (4) If the Administration Corporation is required to give the Minister the initial by-laws, the Minister may approve the by-laws, approve the by-laws with such modifications as the Minister considers appropriate or require the Administration Corporation to prepare another set of initial by-laws. 2025, c. 15, Sched. 13, s. 14. Effect of initial by-laws (5) The initial by-laws shall take effect as the by-laws of the Sponsors Council on the day section 11 of Schedule 13 to the Plan to Protect Ontario Act (Budget Measures), 2025 (No. 2) comes into force. 2025, c. 15, Sched. 13, s. 14. Same (6) For the purposes of subsection (5), (a) if the Minister has approved the initial by-laws under subsection (4), the reference to the initial by-laws in subsection (5) is a reference to the initial by-laws that were approved; or (b) if the Minister has not requested the Administration Corporation to give the initial by-laws to the Minister under subsection (4) or if the Minister has done so but has not approved them within 90 days after they were submitted or by such other date as may be prescribed, the reference to the initial by-laws in subsection (5) is a reference to the initial by-laws that were prepared by the Administration Corporation. 2025, c. 15, Sched. 13, s. 14. Amendments to initial by-laws (7) Any amendments to the initial by-laws shall be done in accordance with section 25.1. 2025, c. 15, Sched. 13, s. 14. Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 14 – 13/03/2026 Procedural and other requirements for decisions 26 (1) A decision of the Sponsors Corporation requires an affirmative vote of a majority of its members. 2006, c. 2, s. 26 (1). Specified change (2) In subsections (3) and (6), “specified change” means, (a) a change in benefits for members of any of the OMERS pension plans, (b) a change in the contribution rate for members or participating employers, or (c) the establishment of, or a change to, a reserve to stabilize contribution rates. 2006, c. 2, s. 26 (2). Decision about a specified change (3) Despite subsection (1), a decision respecting a specified change is not valid unless it is made in one of the following ways: 1. At a meeting called for the purpose of considering the matter, the Sponsors Corporation decides to make the specified change and passes a by-law providing for the specified change by an affirmative vote of two-thirds of its members. 2. At a meeting called for the purpose of considering the matter, the Sponsors Corporation decides on an affirmative vote of a majority of its members to refer the matter for consideration under the supplementary decision-making mechanisms described in subsection (4) or (5) and, using those mechanisms, the decision is made with respect to the specified change. 2006, c. 2, s. 26 (3). Supplementary decision-making mechanisms (4) The Sponsors Corporation may, by by-law, establish supplementary mechanisms for making decisions about matters that are considered during its meetings. 2006, c. 2, s. 26 (4). Initial mechanisms (5) Despite subsection (4), on the day this section comes into force, the supplementary decision-making mechanisms are those set out in section 42. 2006, c. 2, s. 26 (5). Rules for arbitration (6) If the by-law establishing supplementary decision-making mechanisms provides for arbitration, the following rules apply with respect to the arbitration: 1. The arbitrator shall conduct the arbitration in accordance with the Arbitration Act, 1991 and for that purpose the matter referred to the arbitrator shall be deemed to have been submitted for arbitration under an agreement and the members of the Sponsors Corporation shall be deemed to be parties to the agreement. 2. When deciding a matter relating to a specified change, the arbitrator shall consider the following matters: i. The legal requirements relating to the pension plans and their administration. ii. The actuarial valuation of each of the OMERS pension plans prepared by the actuary for the purposes of the Pension Benefits Act. iii.

The advice of the Administration Corporation to the Sponsors Corporation and to the arbitrator concerning the cost of the specified change. iv. The economy of Ontario, the prevailing economic conditions and the overall financial state of the employers participating in the OMERS plans. 3. The arbitrator may make reasonable requests for information and advice from the Administration Corporation and the Administration Corporation shall comply with the requests. 4. The arbitrator shall not make a decision to increase benefits under an OMERS pension plan if the decision, combined with all other decisions made by an arbitrator in the previous 36 months to increase benefits under the plan, would result in a total increase to the contribution rate for the plan for members or participating employers of more than 0.5 per cent. 5. The arbitrator’s decision with respect to the terms and conditions of any of the OMERS pension plans shall be deemed to be a decision of the Sponsors Corporation to amend the pension plan, or a decision not to amend the plan, as the case may be. 2006, c. 2, s. 26 (6). Note: On a day to be named by order of the Lieutenant Governor in Council, section 26 of the Act is amended by striking out “Sponsors Corporation” wherever it appears and substituting in each case “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 15) Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 15 - not in force Recovery of costs 27 The Sponsors Corporation may require the Administration Corporation to reimburse it from any pension or other fund for any of its costs that in the opinion of the Administration Corporation may lawfully be paid out of the fund. 2006, c. 2, s. 27. Note: On a day to be named by order of the Lieutenant Governor in Council, section 27 of the Act is amended by striking out “Sponsors Corporation” and substituting “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 16) Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 16 - not in force Fees to fund other activities 28 (1) The Sponsors Corporation may, by by-law, require the employers who participate in an OMERS pension plan and the members of an OMERS pension plan to pay a fee for the purpose of funding any of the Sponsors Corporation’s costs that may not lawfully be paid out of a pension fund. 2006, c. 2, s. 28 (1). Same (2) The types of costs that the Sponsors Corporation may require funding for include, but are not limited to, (a) its expenses incurred in connection with the use of supplementary decision-making mechanisms referred to in section 26, including actuarial or consulting fees necessary for those purposes; and (b) the expenses incurred for collecting or administering the fees required under subsection (1). 2006, c. 2, s. 28 (2). Note: On a day to be named by order of the Lieutenant Governor in Council, subsection 28 (2) of the Act is amended by striking out “and” at the end of clause (a), by adding “and” at the end of clause (b) and by adding the following clause: (See: 2025, c. 15, Sched. 13, s. 17 (2)) (c) the expenses incurred for obtaining insurance for members of the Sponsors Council. Amount of fee (3) The amount of the fee payable by each employer or member is determined by the Sponsors Corporation and is a debt due to it on the date specified by the Sponsors Corporation. 2006, c. 2, s. 28 (3). Collection (4) The Sponsors Corporation may ask the Administration Corporation to collect the fees on its behalf and remit them to the Sponsors Corporation at the times and in the manner specified by the Sponsors Corporation. 2006, c. 2, s. 28 (4). Same (5) The Sponsors Corporation shall reimburse the Administration Corporation for its costs of complying with a request under subsection (4). 2006, c. 2, s. 28 (5). Separate fund (6) The Sponsors Corporation shall establish a separate fund for fees required under subsection (1) and shall pay the fees into the fund. 2006, c. 2, s. 28 (6). Same (7) The money in the fund may be spent for the purpose described in subsection (1) and for no other purpose. 2006, c. 2, s. 28 (7). Note: On a day to be named by order of the Lieutenant Governor in Council, section 28 of the Act is amended by striking out “Sponsors Corporation” wherever it appears and substituting in each case “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 17 (1)) Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 17 (1, 2) - not in force 29 Repealed: 2009, c. 18, Sched. 22, s. 1. Section Amendments with date in force (d/m/y) 2009, c. 18, Sched. 22, s. 1 - 05/06/2009 Annual audit 30 The Sponsors Corporation shall appoint one or more persons licensed under the Public Accounting Act, 2004 to audit its accounts and transactions each year and to express an opinion on its financial statements based on the audit. 2006, c. 2, s. 30. Note: On a day to be named by order of the Lieutenant Governor in Council, section 30 of the Act is amended by striking out “Sponsors Corporation” and substituting “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 18) Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 18 - not in force Annual report 31 (1) Every year, the Sponsors Corporation shall prepare a report on its affairs during the preceding year and the report must contain a copy of its financial statements as certified by the auditor. 2006, c. 2, s. 31 (1). Same (2) The Sponsors Corporation shall give a copy of the annual report to every employer participating in the OMERS pension plans and to any member, former member or retired member of the plans who requests it. 2006, c. 2, s. 31 (2); 2012, c. 8, Sched. 42, s. 5. Note: On a day to be named by order of the Lieutenant Governor in Council, section 31 of the Act is amended by striking out “Sponsors Corporation” wherever it appears and substituting in each case “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 19) Section Amendments with date in force (d/m/y) 2012, c. 8, Sched. 42, s. 5 - 01/07/2012 2025, c. 15, Sched. 13, s. 19 - not in force Administration Corporation Administration Corporation continued 32 (1) The Ontario Municipal Employees Retirement Board is continued as a corporation without share capital under the name OMERS Administration Corporation and in French as Société d’administration d’OMERS and is composed of its members. 2006, c. 2, s. 32 (1). Status (2) The Administration Corporation is not a Crown agency and it is not a local board as defined in subsection 1 (1) of the Municipal Act, 2001. 2006, c. 2, s. 32 (2). Corporate matters (3) Section 132 (conflict of interest), subsection 134 (1) (standard of care) and section 136 (indemnification) of the Business Corporations Act apply, with necessary modifications, to the Administration Corporation and its members. 2006, c. 2, s. 32 (3). Same (4) The Not-for-Profit Corporations Act, 2010 and the Corporations Information Act do not apply to the Administration Corporation. 2017, c. 20, Sched. 8, s. 114 (2). Section Amendments with date in force (d/m/y) 2017, c. 20, Sched. 8, s. 114 (2) - 19/10/2021 Composition 33 (1) The composition of the Administration Corporation and the method of choosing its members is as specified by by-law of the Sponsors Corporation. 2006, c. 2, s. 33 (1). Note: On a day to be named by order of the Lieutenant Governor in Council, subsections 33 (1) of the Act is amended by striking out “Sponsors Corporation” and substituting “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 20 (1)) Same (2) Despite subsection 26 (1), a decision of the Sponsors Corporation to pass a by-law under subsection (1) requires an affirmative vote of two-thirds of its members. 2006, c. 2, s. 33 (2). Note: On a day to be named by order of the Lieutenant Governor in Council, subsections 33 (2) of the Act is amended by striking out “Sponsors Corporation” and substituting “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 20 (1)) (3) Repealed: 2006, c. 2, s. 55. Note: On a day to be named by order of the Lieutenant Governor in Council, section 33 of the Act is amended by adding the following subsection: (See: 2025, c. 15, Sched. 13, s. 20 (2)) Same, compliance with prescribed requirements (3) The by-laws referred to in subsection (1) must comply with such requirements as may be prescribed. 2025, c. 15, Sched. 13, s. 20 (2). Eligibility (4) A person who is a member of the Sponsors Corporation is not eligible to hold office as a member of the Administration Corporation or to be appointed to any committee established for the purpose of advising the Administration Corporation. 2006, c. 2, s. 33 (4). Note: On a day to be named by order of the Lieutenant Governor in Council, subsection 33 (4) of the Act is repealed and the following substituted: (See: 2025, c. 15, Sched. 13, s. 20 (3)) Eligibility (4) The following persons are not eligible to hold office as a member of the Administration Corporation or to be appointed to any committee established for the purpose of advising the Administration Corporation: 1. A person who is or has been a member of the Sponsors Corporation. 2. A person who is or has been a member of the Sponsors Council. 3. Such other persons as may be prescribed. 2025, c. 15, Sched. 13, s. 20 (3). Term of office (5) The term of office of each member of the Administration Corporation is as determined by by-law of the Sponsors Corporation. 2006, c. 2, s. 33 (5). Note: On a day to be named by order of the Lieutenant Governor in Council, subsections 33 (5) of the Act is amended by striking out “Sponsors Corporation” and substituting “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 20 (1)) Remuneration and expenses (6) Members of the Administration Corporation are to be paid such remuneration and expenses as may be authorized by by-law of the Sponsors Corporation. 2006, c. 2, s. 33 (6). Note: On a day to be named by order of the Lieutenant Governor in Council, subsections 33 (6) of the Act is amended by striking out “Sponsors Corporation” and substituting “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 20 (1)) Section Amendments with date in force (d/m/y) 2006, c. 2, s. 55 - 31/12/2009 2025, c. 15, Sched. 13, s. 20 (1-3) - not in force Appointment of Chair 33.1 (1) Despite subsection 33 (1), the Minister of Municipal Affairs and Housing may, by order, appoint a person as Chair of the Administration Corporation for a term commencing on April 15, 2026 or such other date as may be prescribed. 2025, c. 15, Sched. 13, s. 21 (1). Term (2) The term of the appointment set out in the order under subsection (1) shall not exceed three years. 2025, c. 15, Sched. 13, s. 21 (1). Copy of order to be provided (3) If the Minister makes an order under subsection (1), the Minister shall, as soon as possible after the order is made, provide a copy of the order to the Sponsors Corporation and the Administration Corporation. 2025, c. 15, Sched. 13, s. 21 (1). Order to be made available to plan members (4) The Administration Corporation shall, as soon as possible after receiving the copy of the order, make the order available to the plan members. 2025, c. 15, Sched. 13, s. 21 (1). Note: On a day to be named by order of the Lieutenant Governor in Council, section 33.1 of the Act is repealed. (See: 2025, c. 15, Sched. 13, s. 21 (2)) Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 21 (1) - 27/11/2025; 2025, c. 15, Sched. 13, s. 21 (2) - not in force Objects 34 The following are the objects of the Administration Corporation: 1. To act as administrator of the OMERS pension plans and as trustee of the pension funds. 2. To advise and assist the Sponsors Corporation. Note: On a day to be named by order of the Lieutenant Governor in Council, paragraph 2 of section 34 of the Act is repealed and the following substituted: (See: 2025, c. 15, Sched. 13, s. 22) 2. To advise and assist the Sponsors Council to exercise its powers and perform such duties as may be required under this Act. 3. To exercise such other powers and perform such other duties as may be provided under sections 35.1 and 35.2. 2006, c. 2, s. 34; 2009, c. 18, Sched. 22, s. 2. Section Amendments with date in force (d/m/y) 2009, c. 18, Sched. 22, s. 2 - 05/06/2009 2025, c. 15, Sched. 13, s. 22 - not in force Powers 35 (1) The Administration Corporation has the capacity, rights, powers and privileges of a natural person for carrying out its objects, subject to the restrictions set out in this Act. 2006, c. 2, s. 35 (1). Same (2) For furthering its objects and without limiting the generality of subsection (1), the Administration Corporation may, (a) administer the OMERS pension plans, including paying pensions, making payments under retirement compensation arrangements, establishing investment policies and managing and allocating the assets of the pension plans and the assets of the Administration Corporation; (b) provide for the actuarial valuation of the OMERS pension plans, including determining the actuarial methods and assumptions and the funding policy for the plans; (c) provide reasonable technical support to the Sponsors Corporation, including, without limitation, providing actuarial advice and cost estimates, estimates of the impact of changes to the OMERS pension plans or other changes on contribution rates and advice with respect to any administrative or other issues arising out of proposed changes to the pension plans; (d) provide reasonable administrative support to the Sponsors Corporation. 2006, c. 2, s. 35 (2). Note: On a day to be named by order of the Lieutenant Governor in Council, subsection 35 (2) of the Act is amended by striking out “Sponsors Corporation” wherever it appears and substituting in each case “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 23) By-laws (3) The Administration Corporation may pass by-laws and resolutions regulating its proceedings and for the conduct and management of its affairs. 2006, c. 2, s. 35 (3). Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 23 - not in force Authorized subsidiaries of the Administration Corporation 35.1 (1) The Administration Corporation may incorporate or cause to be incorporated and may make and maintain an investment in one or more corporations that, after the investment is made, are authorized subsidiaries of the Administration Corporation. 2009, c. 18, Sched. 22, s. 3. Other subsidiaries (2) Subsection (1) does not limit the authority of the Administration Corporation under subsection 35 (1) to otherwise establish and invest in subsidiaries. 2009, c. 18, Sched. 22, s. 3. Authorized subsidiary (3) For the purposes of this section, a corporation is an authorized subsidiary of the Administration Corporation if, (a) the corporation carries on business with a view to profit; (b) the business of the corporation is limited to providing one or more eligible services to one or more persons and entities described in subsection (6); and (c) the Administration Corporation has beneficial ownership of shares of the corporation representing more than 50 per cent of the shareholders’ equity of the corporation. 2009, c. 18, Sched. 22, s. 3. Authority re investment entity (4) An authorized subsidiary of the Administration Corporation may, for the purpose of providing eligible services, incorporate, establish, manage or operate one or more corporations, trusts, partnerships or other entities as investment entities. 2009, c. 18, Sched. 22, s. 3. Eligible services (5) For the purposes of this section, each of the following is an eligible service if it is carried out in compliance with all applicable laws: 1. Providing advice to an administrator of a pension plan regarding the administration of the pension plan or the investment policies for the pension fund maintained to provide benefits in respect of that pension plan. 2. Providing advice to a client on investing in, holding, buying or selling securities or other assets. 3. Buying, selling, holding and managing investments for a client, with or without discretionary authority granted by the client to manage the client’s investment portfolio. 4. Activities and services ancillary to the services listed in paragraphs 1 to 3, including, i. activities relating to the distribution or sale to clients of securities issued by an investment entity referred to in subsection (4), and ii. entering into derivative contracts in which the return is based in whole or in part on the performance of all or part of the pension fund maintained to provide benefits in respect of any of the OMERS pension plans or of any of the pension fund’s investments. 5. Providing administrative services to an administrator of a pension plan. 2009, c. 18, Sched. 22, s. 3. Clients (6) An authorized subsidiary may provide services described in subsection (5) only to one or more of the following and only under an agreement authorized under section 35.2: 1. The Administration Corporation. 2. The administrator of a pension plan other than the OMERS pension plans, whether the pension plan is in or outside Canada. 3. The Government of Canada or the government of a province or territory of Canada or, i. a Crown corporation, Crown agency or wholly-owned entity of the Government of Canada or of the government of a province or territory of Canada, or ii. a corporation established by federal or provincial statute. 4. A municipal corporation or a municipal or public body performing a function of government in Canada. 5. A board, within the meaning of the Education Act, or a school board or similar authority that operates under comparable legislation in another province of Canada. 6. A college of applied arts and technology established under the Ontario Colleges of Applied Arts and Technology Act, 2002, a university that receives regular and ongoing operating funding from Ontario for purposes of post-secondary education or an educational institution in another province in Canada that receives regular and ongoing operating funding from the province. 7. An educational institution outside Canada. 8. An endowment fund for a university, college or educational institution referred to in paragraph 6 or 7. 9. A registered charity within the meaning of the Income Tax Act (Canada). 10. A national, federal, state, provincial, territorial or municipal government of or in any jurisdiction outside Canada or any entity owned or controlled by that government. 11. An investment entity referred to in subsection (4). 12. A client or class of clients prescribed or that satisfies conditions. 2009, c. 18, Sched. 22, s. 3; 2025, c. 15, Sched. 13, s. 24. Investing in or through investment entity of authorized subsidiary (7) With the approval of the Administration Corporation, assets of a pension fund maintained to provide benefits in respect of any of the OMERS pension plans may be invested, directly or indirectly, (a) in an investment entity referred to in subsection (4); or (b) in an investment in which assets of an investment entity referred to in subsection (4) are also invested. 2009, c. 18, Sched. 22, s. 3. Regulations (8) The Minister of Finance may make regulations, (a) prescribing clients or classes of clients for the purposes of paragraph 12 of subsection (6); (b) prescribing conditions that must be satisfied by a client or class of clients for the purposes of paragraph 12 of subsection (6). 2009, c. 18, Sched. 22, s. 3. Section Amendments with date in force (d/m/y) 2009, c. 18, Sched. 22, s. 3 - 05/06/2009 2025, c. 15, Sched. 13, s. 24 - 27/11/2025 Authorization to provide eligible services Interpretation 35.2 (1) Expressions used in this section have the same meaning as in section 35.1. 2009, c. 18, Sched. 22, s. 3. Agreements (2) If authorized by the Sponsors Corporation, the Administration Corporation may enter into agreements under which authorized subsidiaries of the Administration Corporation provide eligible services to clients. 2009, c. 18, Sched. 22, s. 3. Note: On a day to be named by order of the Lieutenant Governor in Council, subsection 35.2 (2) of the Act is amended by striking out “Sponsors Corporation” and substituting “Sponsors Council”. (See: 2025, c. 15, Sched. 13, s. 25) Transitional matters (3) The Administration Corporation itself may continue to provide eligible services to clients under agreements that were authorized by Orders in Council 808/80, 2211/95 and 368/2003, as those agreements read on the day this section comes into force and, for that purpose, the Administration Corporation has the powers of an authorized subsidiary under subsections 35.1 (4), (5) and (7). 2009, c. 18, Sched. 22, s. 3. Section Amendments with date in force (d/m/y) 2009, c. 18, Sched. 22, s. 3 - 05/06/2009 2025, c. 15, Sched. 13, s. 25 - not in force Limitations on remedies 36 (1) No cause of action arises against the Crown or any current or former member of the Executive Council or employee, officer or agent of or advisor to the Crown as a direct or indirect result of, (a) the enactment of Schedule 13 to the Plan to Protect Ontario Act (Budget Measures), 2025 (No. 2); (b) the making, amendment or revocation of any provision of a regulation made under section 40 or of an order made under section 21.1 or 33.1; (c) anything done or not done in accordance with a provision of this Act enacted by Schedule 13 to the Plan to Protect Ontario Act (Budget Measures), 2025 (No. 2); or (d) any modification, revocation, cessation or termination of rights in real property, contractual rights, or other rights resulting from anything referred to in clauses (a) to (c). 2025, c. 15, Sched. 13, s. 26. No remedy (2) Except as otherwise provided under this Act, no costs, compensation or damages, including for loss of revenue or profit or any other alleged loss, whether direct or indirect, are owing or payable to any person by a person referred to in subsection (1), and no remedy, including a remedy in contract, restitution, tort, a remedy for misfeasance, bad faith, or a breach of trust or fiduciary obligation, any equitable remedy or any remedy under any statute is available to any person against any person referred to in subsection (1) in connection with anything referred to in that subsection. 2025, c. 15, Sched. 13, s. 26. Proceedings barred (3) No proceeding that is directly or indirectly based on or related to anything referred to in subsection (1) may be brought or maintained against any person referred to in that subsection. 2025, c. 15, Sched. 13, s. 26. Application (4) Subsections (2) and (3) do not apply with respect to an application for judicial review or a claim for constitutional remedy, but do apply with respect to any other court, administrative or arbitral proceeding claiming any remedy or relief, including specific performance, an injunction, declaratory relief or the enforcement of a judgment, order or award made outside Ontario. 2025, c. 15, Sched. 13, s. 26. No costs awarded (5) No costs shall be awarded against any person in respect of a proceeding that cannot be brought or maintained under subsection (3). 2025, c. 15, Sched. 13, s. 26. No expropriation or injurious affection (6) Nothing referred to in subsection (1) constitutes an expropriation or injurious affection for the purposes of the Expropriations Act or otherwise at law. 2025, c. 15, Sched. 13, s. 26. Proceedings by Crown not prevented (7) This section does not apply with respect to proceedings brought by the Crown. 2025, c. 15, Sched. 13, s. 26. Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 26 - 27/11/2025 Crown liability No personal liability 37 (1) No cause of action arises against any current or former member of the Executive Council, officer, employee or agent of the Crown for any act done in good faith in the exercise or performance, or intended exercise or performance, of the person’s powers, duties or functions under this Act or for any alleged neglect, default or other omission in the exercise or performance in good faith of those powers, duties or functions. 2025, c. 15, Sched. 13, s. 26. Crown remains vicariously liable (2) Despite subsection 8 (3) of the Crown Liability and Proceedings Act, 2019, subsection (1) of this section does not relieve the Crown of liability to which it would otherwise be subject as a result of the acts or omissions of a person specified in that subsection. 2025, c. 15, Sched. 13, s. 26. No liability for acts or omissions of others (3) No cause of action arises against the Crown or any person specified in subsection (1) for an act or omission of a person other than the Crown or a person specified in that subsection, if the act or omission is related, directly or indirectly, to the exercise or performance, or intended exercise or performance, of a power, duty or function under this Act. 2025, c. 15, Sched. 13, s. 26. Proceedings by Crown not prevented (4) This section does not apply with respect to proceedings brought by the Crown. 2025, c. 15, Sched. 13, s. 26. Retrospective effect (5) Subsections (1) to (4) apply regardless of whether the cause of action on which a proceeding is purportedly based arose on or after the day the Plan to Protect Ontario Act (Budget Measures), 2025 (No. 2) received Royal Assent. 2025, c. 15, Sched. 13, s. 26. Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 26 - 27/11/2025 No personal liability, Sponsors Corporation 38 (1) No cause of action arises against any current or former member or employees of the Sponsors Corporation for any act done in good faith in the exercise or the performance, or intended exercise or performance, of the person’s powers, duties or functions under this Act for any alleged neglect, default or other omission in the exercise or performance in good faith of those powers, duties or functions. 2025, c. 15, Sched. 13, s. 26. Proceedings by Crown not prevented (2) This section does not apply with respect to proceedings brought by the Crown. 2025, c. 15, Sched. 13, s. 26. Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 26 - 27/11/2025 Proceedings barred 39 (1) No proceeding shall be commenced, (a) against any person specified in subsection 37 (1) in respect of a matter referred to in that subsection; (b) against the Crown or any person specified in subsection 37 (1) in respect of a matter referred to in subsection 37 (3); or (c) against any person specified in subsection 38 (1) in respect of a matter referred to in that subsection. 2025, c. 15, Sched. 13, s. 26. Same (2) Subsection (1) does not apply with respect to an application for judicial review or a claim for constitutional remedy, but does apply with respect to any other court, administrative or arbitral proceeding claiming any remedy or relief, including specific performance, an injunction, declaratory relief, a remedy in contract, restitution, unjust enrichment or tort, a remedy for breach of trust or fiduciary obligation or any equitable remedy, enforcement of a judgment, order or award made outside Ontario or any form of compensation or damages including loss of revenue or profit. 2025, c. 15, Sched. 13, s. 26. Proceedings by Crown not prevented (3) This section does not apply with respect to proceedings brought by the Crown. 2025, c. 15, Sched. 13, s. 26. Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 26 - 27/11/2025 Regulations 40 The Minister of Municipal Affairs and Housing may make regulations, (a) prescribing anything that is referred to in this Act as prescribed or as otherwise dealt with in the regulations; (b) providing for such rules that are, in the opinion of the Minister, necessary or desirable respecting the winding up of the Sponsors Corporation, including with respect to the transfer of its assets, liabilities, rights, obligations and employees; (c) providing for and governing requirements or transitional matters that are, in the opinion of the Minister, necessary or advisable respecting the establishment of the Sponsors Council under subsection 22 (1), including, without limiting the foregoing, providing for any property that belonged to the Sponsors Corporation before its dissolution under subsection 21.1 (9) to become the property of the Sponsors Council, and requiring the Administration Corporation to facilitate the transfer of any such property; (d) defining any word or expression used in this Act that is not already defined; (e) governing any transitional matters which, in the opinion of the Minister, are necessary or desirable to facilitate the implementation of Schedule 13 of the Plan to Protect Ontario Act (Budget Measures), 2025 (No. 2). 2025, c. 15, Sched. 13, s. 26. Section Amendments with date in force (d/m/y) 2025, c. 15, Sched. 13, s. 26 - 27/11/2025 41-43 Repealed: 2006, c. 2, s. 55. Section Amendments with date in force (d/m/y) 2006, c. 2, s. 55 - 31/12/2009 44 Repealed: 2006, c. 2, s. 44 (2). Section Amendments with date in force (d/m/y) 2006, c. 2, s. 44 (2) - 30/06/2009 45-54 Omitted (amends or repeals other Acts). 2006, c. 2, ss. 45-54. 55 Omitted (provides for repeal of provisions of this Act). 2006, c. 2, s. 55. 56 Omitted (provides for coming into force of provisions of this Act). 2006, c. 2, s. 56. 57 Omitted (enacts short title of this Act). 2006, c. 2, s. 57. ______________