Thread by @yomeeks

This is your daily pension announcement: The Pension War Room™️ is at action stations yet again. Take a read here, truthfulness rated at 5 out of 5 . #ABLeg

albertapolitics.ca/2020/05/can-ke…

My favorite quote:
"As the Globe and Mail reported on May 6, in a story unfortunately hidden behind its paywall, AIMCo. has been significantly underperforming other pension managers for more than a decade." #ABLeg #handsoffmypension

And:
"Of course, that fact didn’t stop Alberta Finance Minister Travis Toews from claiming last fall in a Postmedia op-ed accusing “union bosses” of “scaremongering” that AIMCo “regularly achieves spectacular investment performance.”"
#ABLeg

Travis wasn't telling the truth. He has claimed again and again that AIMCO can reduce costs and save teachers money. They can't. At least not in their present organizational form. Never mind when the commercial real estate write-downs hit this spring and summer. #ABLeg

Why Travis is lying I don't know. I have spent months on Twitter trying to analyze his motivations. Now the ATRF Board has done the work that Travis should have done prior to making any decisions. #ABLeg atrf.com/corporate/inve…

This gets harsh #ABLeg:

"Does ATRF believe this change is in plan members' best interests?
Bill 22 is now law so ATRF will comply, but the ATRF Board does not believe this legislation is in the best interests of ATRF Plans and its members for the following reasons:"

OMG, that hurts. ATRF then follows up with a risk adjusted return calculation adjusted for a common end date for each of the last seven years. ATRF OUTPERFORMS the LAPP equivalent portfolio by a margin of 0.14% to 3.31% each year. #ABLeg #thatsucks #teamtripod #athana

And, this does not even include the $2.2 billion that AIMCO just disposed of in the burning tire fire that was their volatility strategy.

Change is needed here. Change that is based on evidence.
#ABLeg

Kevin, for his part, forgot his role here. His role as CEO is to stay out of the news. Only to occasionally pop up in the business pages as investment deals come to fruition.

When he got involved with the politics of Bill 22 he had perilously stepped outside of his lane. #ABLeg

Kevin is not a pension manager. He is an investment manager. He deserves precisely zero say in provincial pension policy. That will never change. Posing for a come-hither photo to go with an op-ed was the end of the line. #ABLeg #fail #handsoffmypension

So, to everybody who has been asking me for a reliable investment return comparison to share with their MLA. here you go. Fill yer boots!

All the members of LAPP will want to take this up with their MLAs as well. Bill 22 did you serious dirt. #ABLeg