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Press Release
OMERS governance must change, CUPE leader will tell NDP pension hearings in Toronto
February 9, 2005 03:56 PM

Toronto — Workers and employers in Ontario’s municipalities, school boards, police forces and fire departments must have the same control over their pension plan as members of other major plans in the province enjoy, Canadian Union of Public Employees (CUPE) Ontario President Sid Ryan will tell a pension hearing sponsored by the NDP tomorrow at Queen’s Park.

CUPE members make up the largest group in the Ontario Municipal Employees Retirement System (OMERS), which remains under the control of the provincial government. Last week, Ryan announced that the union has instructed its lawyers to begin preparing a legal claim related to OMERS dealings with Borealis that saw more than $100 million paid out in annual and termination fees over a 19-month period.

Ryan will speak at the hearing, part of a province-wide series chaired by Hamilton East MPP Andrea Horwath, at 2:15 p.m. on Thursday, February 10 at the Delta Chelsea Hotel, Scott Room, 3rd Floor, 33 Gerrard Street West, Toronto.

He will also address the need for:

- disclosure of information to members and unions
- securing pensions with tighter rules on contribution holidays
- a strong commitment to defined benefit pension plans
- support for the public pension programs
- an improved regulatory environment.