Thread by @yomeeks

This is your daily pension announcement: The LAPP, PSPP, and SFPP edition. So if you happen to be a police officer, sheriff, firefighter, RN, LPN, HCA, EA, or other GOA employee this edition is for you. #petrosexual #handsoffmypension

The big change to your pension as a result of Bill 22 is that AIMCO has a monopoly on investment management services no matter if they turn out to be "average". Support for this decision is well...they do it elsewhere. #BCIMC #handsoffmypension

...And by elsewhere they mean British Columbia Investment Management Corporation (BCIMC). It, successfully I might add, manages the investments of BC teachers and almost all govt employees.

So BCIMC is trotted out by Travis and the rest of TBF as justification for forcing AB public sector plans to stay with AIMCO no matter what they do. #triggerword

The thing that Travis fails to mention...is that any of the BC plans can withdraw from BCIMC at any time. #burn

So if you are a member of an AB plan and you see your MLA or Travis....your question is:

1. Why are AB plans forced to use AIMCO when our "example" in BC does not force any plan to use BCIMC?

2. Are AB plans still jointly sponsored? (The plans were moving to joint sponsorship so the risk would be shared between the GOA and plan members. If one sponsor, GOA, is throwing down unilateral edicts, not jointly sponsored anymore.)

3. Has Travis completed any study in the risk he is now re-assuming on behalf of the GOA? Discussed it with Cabinet? (Other measures in Bill 22 like Travis approving board members is also an assault on joint sponsorship.)

This connection to BC is interesting as the Deputy Minister of TBF, Athana Mentzelopoulos came from there. So it is no shock that when they need a friendly rubber stamp on the AIMCO severly conflicted business case Athana goes to Peter Milburn, Board Chair at BCIMC.

What Peter failed to mention to Albertans was that BCIMC does not have a monopoly on investment management. All plan members need to be aware of this and share it with their elected officials, as Travis is not.

bci.ca/who-we-are/gov…