FOR IMMEDIATE RELEASE May 24, 2005
OPSEU to contribute to OMERS pension fight
TORONTO: The Ontario Public Service Employees Union will contribute $10,000 to support legal action by the Canadian Union of Public Employees (CUPE) against the Ontario Municipal Employees Retirement System (OMERS).
CUPE launched the action against the OMERS board and certain employees after more than $100-million in termination fees were paid over 19 months, including payments to three senior managers of about $10.5-million, in transactions involving a plan subsidiary, Borealis Capital.
The OPSEU Executive Board voted unanimously last week to join several other affected unions supporting this action.
"This pension money belongs to all the workers in the plan, not the plan management," said OPSEU President Leah Casselman. "That's why we're supporting this action, and why we also support a joint trusteeship model for OMERS."
OPSEU represents about 3,000 members who contribute to the OMERS pension plan.
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For further information:
David Cox, OPSEU Communications, cell : 416-788-9197
