Nomination Process for the City of Toronto Representatives to the OMERS Sponsors Corporation and the OMERS Administration Corporation

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The decision

2024-05-14 · Executive Committee · adopted

As filed

The Executive Committee: 1. Received the report (April 30, 2024) from the City Manager for information.

On the agenda

As the city filed it

The purpose of this report is to provide a review of the current appointment processes for a City of Toronto representative to the OMERS Sponsors Corporation (SC) Board of Directors and the Administration Corporation (AC) Board of Directors. In addition, this report outlines the steps necessary for implementing a new process for appointing a City of Toronto representative to the OMERS SC and AC Boards. OMERS AC and SC Boards have distinct roles and responsibilities under the Ontario Municipal Employees Retirement System Act, 2006 (the OMERS Act).

Show the rest of As the city filed it, 337 more characters as filed

The OMERS By-laws outline the roles and responsibilities of the Board members and outline the key qualifications required to be appointed to the Boards. It is the City's mandate to ensure that the appointment and nomination process of the representatives is transparent, inclusive, and effectively considers a broad source of candidates.

Staff recommended

The City Manager recommends that: 1. The Executive Committee receives this report for information.

On the record

The item as the City filed it