| (Le français suit l’anglais)
Dear OMERS Plan Member,
On Monday, May 9th from 6 to 8pm, CUPE Ontario will host its annual OMERS Forum.
Normally, CUPE Ontario organizes this forum during our convention, but due to an especially tight schedule this year we have decided to put on our OMERS meeting separately.
There are several urgent items we would like to discuss with you. CUPE Ontario recently released a report examining executive compensation at OMERS which should raise concerns for all plan members. The report, which looked at compensation over a ten-year period, discovered OMERS pays some of the highest absolute rates for its top executives despite being one of the smaller plans in the group in terms of assets.
CUPE Ontario also voiced concerns with the administration of OMERS in the past. Last year, we published, “Not Just One Tough Year”, which clearly showed that over the past decade, OMERS investment returns have underperformed those of comparable defined benefit pension plans and funds.
OMERS members deserve to know why their plan is paying higher rates of compensation to top executives, while its investments are underperforming compared to the other defined benefit pension plans and funds.
We encourage you to attend this important forum and join us in holding OMERS accountable. |
