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This is your daily pension announcement. The Pension War Room™️ says WTF? Read this news release..... #AIMCOfail #ABLeg #OMG Mark Wiseman AIMCO chair? Did I read that right?

newswire.ca/news-releases/…
Please, this is an announcement carefully planned for Friday at 4 PM. Travis is clear there will be no questions and no accountability on this. The good news is that Mark has no current ties to AIMCO so he will feel free to fire Kevin and the lot. #goodjob #ABLeg
But read this %&***# news release, it is suspect..... Maybe I will just give the pension army (and reporters) some questions that spring to mind...about an issue that clearly the GOA does not want to discuss. #ABLeg
Q1. Were the pension funds, whose assets make the vast majority of AIMCO's business, consulted about this Board appointment?

(The answer is no, I checked.) #AbLeg
Follow up Q: why not?
Q2. Why was Mark Wiseman fired from Blackrock?

Google it, I honestly can't remember... #ABLeg
Q3. Was Mr. Bird pushed out? He was eligible for two more terms on the AIMCO Board.....

Q4. Doesn't the AIMCO Board elect its own chair from its members?

Follow up: Did the AIMCO Board elect Mark without even a meeting? #ABLeg
Q5. Why is AIMCO announcing this? Shouldn't it be the office who appointed Mark? You know, the Minister of TBF? Travis? #ABleg

Read this quote: "Alberta Investment Management Corporation (AIMCo) today announced the appointment and designation...."
AIMCO announces? Really? Really? WTF?

In any logically consistent universe this is not AIMCO's news to announce but rather the GOA's. Travis gone to the lake for the weekend? #ABLeg #handsoffmypension
I will deal with the APP tripe from the Fair Deal (?) report tomorrow. So much to do so little time. #ABLeg #fail
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More from @yomeeks see all

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Greg Meeker
@yomeeks
The Pension War Room™️ comments on the Fair Deal Report: Wow, what a blatant pile of unconstitutional dog whistles reheated by that has-been Preston. I will try to stick to my lane, which is the (stupid) suggestion of pulling out of CPP. #ABLeg
The panel suggests that the idea of an APP needs to be studied. No. They need to read the study that was already done by a preeminent Canadian pension expert: #ABLeg (Sorry this might be a TL:dr)
kpa-advisory.com/policy-papers/…
Or, if you want something shorter, read this for quotes from Malcolm Hamilton another top shelf pension expert: #ABLeg

benefitscanada.com/news/can-cpp-h…
Read 16 tweets
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Greg Meeker
@yomeeks
This is your daily pension announcement: The Pension War Room™️ continues the glorious march to victory. Or, at least, the march towards common sense.
Here is the committee that works on private members' bills. You know, like Bill 203 The Pension Protection Act. #ABLeg
Mr. Mike Ellis (Chair)
Mr. Joseph Schow (Deputy Chair)
Ms. Michaela Glasgo
Mr. Nate Horner
Member Janis Irwin
Mr. Nathan Neudorf
Mr. Chris Nielsen
Mr. Jeremy Nixon
Ms. Rakhi Pancholi
Ms. Lori Sigurdson
Mr. R.J. Sigurdson
Their next meeting is June 23. It would be helpful if people that live in their ridings would contact them and let them know that Bill 203 needs to be heard in committee.

Note: We don't need everyone contacting the MLAs above. Just constituents. #ABLeg
Read 7 tweets
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Greg Meeker
@yomeeks
This is your daily pension announcement: The Pension War Room™️ is on a course to intercept! Take a look at what SFPP has returned. Oh baby not pretty... #ABLeg #AIMCOFAIL

sfpp.ca/page/news
Returning -12.2% in one quarter when the benchmark returns -6.66% is bad real bad. Look Ma, I only lost double what an average manager did!
Of graver concern is the long term performance. It averages to 0.23% of value add (above benchmark) over 12 YEARS. #ABLeg @premiamgmt
Just so you know, pension plan investors have to score substantially above benchmark to earn the million dollar bonus. The return objective, and therefore the compensation threshold, is probably 0.75% above benchmark. This does not come close to that level. #ABLeg
Read 14 tweets

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