The Ontario Municipal Employees’ Retirement System (OMERS), the defined benefit pension plan for broader municipal sector employees in the province of Ontario, generated a 2023 investment return of 4.6 percent, or $5.6 billion, net of expenses. Over the past 10 years, OMERS has averaged an annual investment return of 7.3 percent, net of expenses, adding $66.4 billion to the plan. Net assets at Dec. 31, 2023, were $128.6 billion, up from $124.2 billion in 2022, and the plan reported a smoothed funded status of 97 percent, up from 95 percent last year.
“We are investors for the long term for the benefit of our members and their families. Our focus at OMERS remains on our ability to see through economic cycles. I am extremely pleased that in the past three years, coming out of the pandemic, our extraordinary global team has earned an average annual net return of 8.0 percent, a track record that stands up by any objective measure. Our 10-year result speaks to our ability to i
