Thread by @yomeeks

This is your daily pension announcement: Red tape for everyone edition!!
Below you will find the great David Climenhaga letting us know how despite creating a "Ministry of Red Tape Reduction" red tape is actually being weaponized by the GOA. #ABLeg #ABEd

albertapolitics.ca/2020/01/albert…

Back in the day I served with the Canadian Armed Forces. The red tape reached legendary proportions. So everybody has to love the "get rid of red tape" campaign led by the Muppet Minister Grant Hunter, right? #handsoffmypension #redtape

Only thing is the GOA, as is so eloquently explained by Dave, is not getting rid of red tape but rather using it as a weapon against people and institutions they don't like.

Hmm...sort of like teachers' pensions. #redtape

Some people on social media were onto this. We have taken another agency, AIMCo, and placed it between teachers and their money. The whole concept of ATRF: managing the collection of contributions, balancing the assets and liabilities, then paying money out to retirees... #ABLeg

...has now been red taped by the insertion of another agency named AIMCo. They won't be the trustee, they won't be the custodian but they will be interfering in the operations of ATRF. It could take 10 years to get the AIMCo and ATRF informations systems up to speed and talking.

Please feel free to make a submission the the cut red tape panel here...

alberta.ca/cut-red-tape.a…

#muppetminister

My premise has always been that Travis did not consult with his partners of 80 years in this decision in order to disrespect teachers. Mission accomplished.

My position has always been that he has no hope in hell of saving $41 million in any year with this decision. #stupid

But, rather he has a different political agenda in making a monopoly out of AIMCo no matter how they perform. It seems his path is to increase the red tape in the admin and investment of teachers' pension funds. #redtape

Though, it is entirely a different agenda he is following ("Redford cronyism") by placing an under-qualified #petrosexual on the ATRF Board in place of qualified women. Rafi Tahmazian anyone?

Finally, let me leave you with a quote from the LAPP website discussing their investment returns:

"As measured by quarter ends, AIMCo has been short of LAPP’s SIPP-specified value added expectations for 45 consecutive quarters, or 11 years and 3 months."

Yeah that is right, let that sink in. LAPP has not had their investment policy return expectation met even one quarter for over 11 years. #notgood

Why does Kevin get mad at me when I point that out? #handsoffmypension #AskingForAFriend