Below you can go and download the just released LAPP Newsletter. One version for actives members and another for retirees. Or, I will save you the trouble and reproduce the naughty bits here.
Yeah, don't anyone hold their breath. #othershoewilldrop
"This development finally put LAPP on the same footing as other large public sector plans across Canada, allowing
LAPP to gain independence from government and shifting
decision-making authority to the members and employers
who pay into the Plan."
"It was an exciting time for the Plan because it took 25
years of persistent effort by LAPP sponsors to get
decision-making authority for the Plan."
Yeah, look, it was not an NDP plot. #goldstandardgovernance
away LAPP’s ability to choose its own investment manager
and pension benefit administrator ... LAPP has now been legislated to use ...(AIMCo) ... permanently, with no ability to replace them if circumstances warrant."
Yup. No consultation no process. GOA re-assumes any financial risk of this plan.