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This is your daily pension announcement: I have a nightmare every night. It goes like this: AIMCo is in the Minister of Finance's ear telling him a whole bunch of untruths about saving money by moving ATRF assets to AIMCo. #handsoffmypension #noireallymeanit
So many of you are coming back from meeting your MLA with "this will save each teacher $500 per year". Not true. In my nightmare AIMCo under-performs by 1% each year which costs teachers and the GOA a full $200 million each and every year. #ABteachers #whocausedarecession
Let me explain where the $500 dollars "savings" allegedly comes from. AIMCo has said they can reduce investment costs of ATRF assets by 0.2% of assets an almost $20 billion dollar plan. That is $40 million saving split equally between the contributing GOA and teachers.
