OMERS – 2.74% in 2022

OMERS

“OMERS announced that pensions will increase by 2.74% as of January 1, 2022. This increase is reflective of general changes in the cost of living measured by the Consumer Price Index and published by Statistics Canada.”

Job-Related Illness

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In the event of a Retired Scarborough or Toronto (TFS) Fire Fighters passing the estate or executor will want to notify CPP, OAS, OMERS, and depending on the individual a number of others. They should also contact the City to see if there are any entitlements owed (eg. life insurance). …

Presumptive Cancer / Estate Planning

No one likes to think about their own mortality. Estate planning is one of those things that do just that, so many will just put it off to another day which leaves it to the family to figure out. There always seem to be questions regarding the possibility of entitlements …

Life Insurance Policy – Article 1203

Under the Collective Agreement between The Corporation of the City of Scarborough and The Scarborough Professional Fire Fighters’ Association Local 626, Article 1203 stipulated that “The Corporation shall provide a paid-up life insurance policy of three thousand dollars($3,000.00) for employees retiring on pension”. Please be aware that this policy is …

2020 OMERS Report

OMERS

OMERS Reports 2020 Financial Results After seeing an 11.9% net return in 2019, Covid-19 has brought that crashing into negative territory for 2020… “The effects of the global COVID-19 pandemic negatively impacted our portfolio in 2020, particularly our business- and consumer-facing investments, contributing to an investment return net of expenses …

Retiree Benefits – MROO Travel

MROO Annual Travel Insurancenow includes coverage for COVID-19 MROO Travel Insurance now includes coverage for Covid-19 related conditions or losses. Retroactive to January 15th. “We are pleased to announce that the MROO AnnualTravel Insurance plan now includes emergency medicalcoverage for conditions or losses that are related toCOVID-19, even while a …

Benefits at 65…

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Your Benefits – What to expect when you turn 65. If you were employed with the TFS when the Health Care Spending Account (HCSA) was awarded there are a few things to consider as you approach your 65th birthday. To ensure everything transitions smoothly the following should be considered. All …

VICTOR OPEN ENROLLMENT

MROO’s (www.mroo.org)  insurance program partner, Victor, is holding an open enrollment for a limited time. This has only been done a few times, so if you missed out on joining this plan at the time of your retirement or wish to switch from another insurance plan you can do so without having …

MROO Retiree Benefits – Victor

Now that we are well into this COVID thing I’m sure many are wondering if any relief will come from with regards to the travel insurance premium. This link will take you to an update on travel insurance from VICTOR (MROO) and questions asked by many who are members. The …

OMERS Passes Five Amendments

OMERS

Back on June 23rd, we posted about the possible change(s) OMERS Sponsor Corporation was contemplating. The very next day they voted to make the following five changes. Extending leave purchase deadlines Reducing or eliminating the 36-month employment requirement for purchases of periods of reduced pay Permitting temporary layoffs as purchasable …