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The Ontario Municipal Employees Retirement System [3] (OMERS) is a Canadian public pension fund, headquartered in Toronto, Ontario.OMERS is a defined benefit, jointly sponsored, multi-employer public pension plan created in 1962 by Ontario provincial statute to administer retirement benefits and manage pension investment funds of local government employees in the Canadian province of Ontario.
In 1972, the Government of Ontario was considerably re-organized as the various Departments were restructured and renamed as Ministries. In 1972, the Ministry of Government Services was created, assuming most of the functions of the former Department of Public Works. Over the years in its various forms, the Ministry assumed various ...
The Ontario Teachers' Pension Plan Board ( French: Régime de retraite des enseignantes et des enseignants de l'Ontario) [ 5] is an independent organization responsible for administering defined-benefit pensions for school teachers of the Canadian province of Ontario. Ontario Teachers' also invests the plan's pension fund and it is one of the ...
The Federal Government and its provincial counterparts moved to enhance the Canada Pension Plan to provide working Canadians with more income in retirement. [13] These changes were principally motivated by the declining share of the workforce that was covered by an employer defined-benefit pension plan, which had fallen from 48% of men in 1971 ...
The Hon. Sir William Ralph Meredith, Chief Justice of Ontario, is the founding father of Workmen's Compensation in Ontario and by extension Canada. [2]In 1910, Ontario Premier Sir James Whitney [1905 - 1914] appointed Sir William Meredith to head the first Royal Commission into the "laws relating to the liability of employers to make compensation to their employees for injuries received in the ...
Website. www .optrust .com. OPTrust, officially the OPSEU Pension Trust, [ 2] is a legal trust formed by the contractual agreement between the two plan sponsors, Ontario Public Service Employees Union ( OPSEU) and the Government of Ontario. [ 3] It manages one of Canada 's largest pension funds and administers the OPSEU Pension Plan. [ 4]
The Ontario Health Premium (OHP) is a component of Ontario's Personal Income Tax system. The OHP is based on taxable income for a taxation year. As of May 2010, an Ontario resident with taxable income (i.e., income after subtracting allowable deductions) of $21,000 pays $60 per year. With a taxable income of $22,000, the premium doubles to $120.
The Ontario Retirement Pension Plan (ORPP) was a proposed social insurance program for Ontario, Canada to complement the national Canada Pension Plan. It was intended to cover the 3.5 million workers in Ontario who would not receive a comparable workplace pension after their retirement. [1] [2] Plans to implement the ORPP were cancelled in 2016 ...