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The AB Teacher Pension War Room Profile picture
@yomeeks
Jan 25, 2020 • 6 tweets • 4 min read • Read on X
This is your daily pension announcement: How does GOA select ATRF Board members? Let me count the ways edition.

Travis was giving an talk this past Monday morning at the Hotel MacDonald. It was at the invite of the Institute of Corporate Directors. He said some strange things...
First of all, let me remind you that the @FairmontMAC makes a wonderful breakfast. For $95 you could have joined various business luminaries for a meal and to hear Travis speak about the future of Agencys, Boards and Commissions in Alberta. #AbLeg #AbEd #handsoffmypension
Travis talked a lot, to a full house, about the OAG report (link below) on improving Board recruitment, including:

1. Working closely with Board Chairs to identify skills for appointments.

2. Reviewing Director evaluations for reappointments.

oag.ab.ca/reports/apsc-p…
3. Ensure experienced, qualified directors are appointed.

4. “Will defer to Boards, not micro manage”

5. Good governance and strong, qualified directors are key; diversity is important, but qualifications come first.

#really #ABLeg #talkingoutofmouthandassatthesametime
The OAG report really does lay out the gold standard for recruiting and selecting board members for the ATRF and all others. This report was written to help fight cronyism.
In my opinion, Travis did not follow any of these recommendations of the @AuditorGenAB in this report when he appointed #petrosexual Rafi Tahmazian to the ATRF Board over two better qualified incumbents. #ouch

If you get a chance, ask him about this.

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More from @yomeeks

The AB Teacher Pension War Room Profile picture
Nov 3
This is your daily pension announcement! The Pension War Room™️ would note Jim-Bob Dinning is still a stan for the APP. He was at the Calgary Golf and Country Club while the rest of the UCP were lathering up in Red Deer. #AbLeg
It appears that his message has not changed. Lifeworks/Telus report=The Word of God. Yeah, even the bits he reproduced for handouts at the events had all sorts of warnings from the actuary about "best estimates". #AbLeg
The crowd, though tough to tell from appearances, looked like they **WILL NOT** be depending on CPP/APP for their retirement income. Unlike millions of Canadians who WILL be depending on it. #AbLeg
Read 8 tweets
The AB Teacher Pension War Room Profile picture
Oct 12
This is your daily pension announcement! Smith recruiting private schools to stack the leadership vote shows a level of desperation. She didn't invent this strategy (@jkenney did), but she needs it. #AbLeg
It seems two groups are organizing against her: one group thinks she had the power to stop the prosecution of domestic terrorists. The other is angry she reneged on a promise to cut taxes.
A certain substantial, but as yet unquantified, portion of her party is just angry all the time about everything. The same people that gave Ralph the boot after all he did for 'berta.
Read 4 tweets
The AB Teacher Pension War Room Profile picture
Sep 8
This is your daily pension announcement. The Pension War Room™️ is mildly piqued at the continued operation of @aimcoinvests without a Board Chair. Speculation centers around the UCP trying to appoint a politician and failing (twice) on conflict of interest grounds. #AbLeg
It is well past time that I remind you if you have a DB pension plan the money in that plan IS NOT your employers. It is held, in trust, and cared for by a trustee. That trustee has the fiduciary responsibility to invest wisely and to pay out benefits to you when the time comes.
It's important for me to hammer home this concept in law as we seem to have lots of MLAs and senior civil servants confused about this. Various FOIP requests have provided ample examples of teachers' pensions being referred to as a GOA "program". They are not. #Ableg
Read 5 tweets
The AB Teacher Pension War Room Profile picture
Mar 29
This is your daily pension announcement. The Pension War Room™️ can't believe this needs to be said again. But, after some side comments from some local UCP MLAs, here we go:
1. The GOA is a minority (49%) contributor to the
teachers' retirement plan. #ableg
2. The GOA does **NOT** guarantee pensions. They are guaranteed by the assets in the plan. (There was a guarantee until 1992.)
3. Since the GOA contributes 49%, they appoint half the Board Members to the ATRF Board. #AbLeg
4. The ATRF Board is the trustee with a fiduciary
duty to the plan members. Selecting investment
strategy and **in any normal world** hiring
investment managers is their responsibility. #AbLeg
Read 5 tweets
The AB Teacher Pension War Room Profile picture
Feb 11
This is your daily pension announcement: The Pension War Room™️ is awash in the irony that is the TBA faction of the UCP caucus. Did the slide deck used to convince caucus of DS's latest flaky idea have data from a fake polling firm? I feel the need to know. #AbLeg
We are expecting the @ATRFPension Annual Report (to Aug 23) to come out this week. We will be able to see just how far @aimcoinvests has come to saving us $40 million each and every year. My informed opinion is they have saved teachers $0. Every claim AIMCO made was false. #AbLeg
Here again, for posterity's sake, is the **top level** analysis done by AIMCO and provided to TBF. This really shows two things: AIMCO can't recognize the Mother of All conflicts of interest, and is AIMCO is incapable of calculating a risk adjusted return. #AbLeg Image
Read 7 tweets
The AB Teacher Pension War Room Profile picture
Dec 12, 2023
This is your daily pension announcement. The Pension War Room™️ reveals this King's Bench pension decision. If you recall, LAPP, PSPP and SFPP are holding @aimcoinvests and GOA accountable for $1.33 billion dollars of VOLTS losses. #ABLeg
canlii.org/en/ab/abkb/doc…
It looks like the GOA tried to sever themselves from the (top secret) arbitration hearing. So your hardworking pension plans needed to go to King's Bench Court to have the GOA again added as a defendant. Which they were, with costs. #AbLeg
This is a thorough ruling. It is hard to think that they even argued such a stupid position: that the GOA had no responsibility for @aimcoinvests even though they own them and are responsible for appointing board members. #AbLeg
Read 6 tweets

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