Discover and read the best of Twitter Threads about #milburned

Most recents (4)

This is your daily pension announcement. The Pension War Room™️ has been invited!

"Alberta Legislative Assembly Committee Review of Bill 203: invitation to provide an oral presentation."

The Committee is seeking input from stakeholders...
Monday, July 6, 2020
8:30 a.m.
#ABLeg
I will attend!

Let the truth run free! I love democracy in action.

Am I the only one who finds it ironic that stakeholders are being consulted for Bill 203 which undoes parts of Bill 22? Which no one was consulted on? #ABLeg #democracyishard #handsoffmypension
My focus will be on the joint nature of ATRF since 1938. I will remind everyone that GOA contributes 49% teachers 51% to a plan they just took unilateral action against.
#ABLeg #handsoffmycpp
.
Read 11 tweets
This is your daily pension announcement: The Pension War Room™️ has @SPhillipsAB bring the fire! Not only is the Private Member Bills committee meeting tomorrow AM, but the Public Accounts Committee is meeting too! @SPhillipsAB is the chair! Look what is on the agenda: #ABLeg
"In particular, I will be asking questions related to comparisons between ATRF’s past performance under its own management and the performance of the Local Authorities Pension Plan (LAPP), which has historically been managed by Alberta Investment Management Corporation (AIMCo)."
And "We now know that AIMCo executives stand to gain millions in bonuses from increasing the size of the organization’s portfolio, and that AIMCo pushed to take over the management of ATRF. "

I ALWAYS KNEW THIS! THANK GOD THIS SEES THE LIGHT OF DAY! #ABLeg #aimcofail
Read 8 tweets
This is your daily pension announcement: The Pension War Room™️ demands a relative value comparison with the CPP Investment Board!😲💩 Andrew Willis brings the fire! #ABLeg #handsoffmypension #milburned

theglobeandmail.com/business/comme…
To quote the sickest of burns:
"Edmonton-based AIMCo, on the other hand, has the dubious distinction of being among the worst-performing Canadian pension plans during the recent downturn, posting stats that would get a player cut from the Edmonton Oilers." #ABLeg #thathurts
And he doesn't let up:

"Contrasting its results to CPPIB – an apples-to-apples comparison – also shows the Alberta fund suffered outsized losses on investment strategies linked to market volatility."

#ABLeg #minburned #teamtripod
Read 8 tweets
This is your daily pension announcement: The how did AIMCO lose all that money edition? #ABLeg
Get the gory details here! #handsoffmypension

theglobeandmail.com/business/artic…
To be clear this is the right thing to do, hiring someone of Ms Zvan's expertise and an accounting firm to independently tally losses. A little belated by the AIMCO Board, but nonetheless the right thing to do. #ABLeg #wheredidallthatmoneygo
To quote the press release...

"Oversight of AIMCo’s investment strategies and risk management is the responsibility of the Board of Directors." Yup, it sure is.

Two weeks before this became public Kevin was going to all the different pension plans breaking the news. #ABLeg
Read 8 tweets

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