What does MEPCO mean in CIVIC & MUNICIPAL
MEPCO stands for Municipal Employer Pension Centre of Ontario. It is a non-profit organization that provides pension and related services to municipal employers and their employees in the province of Ontario, Canada. MEPCO was established in 1990 and is headquartered in Toronto, Ontario.
MEPCO meaning in Civic & Municipal in Governmental
MEPCO mostly used in an acronym Civic & Municipal in Category Governmental that means Municipal Employer Pension Centre of Ontario
Shorthand: MEPCO,
Full Form: Municipal Employer Pension Centre of Ontario
For more information of "Municipal Employer Pension Centre of Ontario", see the section below.
What does MEPCO do?
MEPCO provides a range of services to its members, including:
- Pension administration: MEPCO administers pension plans for over 400 municipal employers in Ontario. This includes calculating and paying benefits, managing investments, and providing customer service to plan members.
- Investment management: MEPCO invests the assets of its pension plans in a diversified portfolio of investments. This includes stocks, bonds, and real estate.
- Consulting services: MEPCO provides consulting services to its members on a variety of pension-related topics. This includes actuarial services, investment advice, and plan design.
Who is MEPCO for?
MEPCO is for municipal employers and their employees in the province of Ontario. This includes cities, towns, villages, and other local government entities. MEPCO also provides services to some non-profit organizations that are affiliated with municipal governments.
Essential Questions and Answers on Municipal Employer Pension Centre of Ontario in "GOVERNMENTAL»CIVIC"
What is MEPCO?
MEPCO is the Municipal Employer Pension Centre of Ontario, a joint initiative of the Ontario government and the Association of Municipalities of Ontario (AMO). MEPCO is responsible for administering the Municipal Employees Retirement System (MERS) and the Ontario Municipal Employees Retirement System (OMERS).
What is the Municipal Employees Retirement System (MERS)?
MERS is a defined benefit pension plan that provides retirement income to municipal employees in Ontario. MERS is jointly sponsored by the Ontario government and the AMO.
What is the Ontario Municipal Employees Retirement System (OMERS)?
OMERS is a defined contribution pension plan that provides retirement income to municipal employees in Ontario. OMERS is jointly sponsored by the Ontario government and the AMO.
Who is eligible to participate in MERS or OMERS?
Employees of municipalities in Ontario who meet certain eligibility criteria are eligible to participate in MERS or OMERS.
How do I enroll in MERS or OMERS?
You should contact your employer's human resources department to enroll in MERS or OMERS.
How much will I receive in retirement from MERS or OMERS?
The amount you will receive in retirement from MERS or OMERS depends on a number of factors, including your years of service, your salary, and the performance of the plan's investments.
Can I transfer my pension benefits from MERS or OMERS to another pension plan?
Yes, you may be able to transfer your pension benefits from MERS or OMERS to another pension plan. However, there may be restrictions on transferring your benefits, and you should contact MERS or OMERS for more information.
Final Words: MEPCO is a valuable resource for municipal employers and their employees in Ontario. It provides a range of pension and related services that help to ensure the financial security of plan members.