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This is your daily pension announcement: The Pension War Room™️ has had a full day! Time for the after action report.
Bill 203 The Pension Protection Act hit committee. Watch it below! (Skip ahead to 9:33 AM for the pension stuff) #ABLeg…
Again, some stuff that was said was correct, some not so much. A couple of points:
1. The Deputy Minister (Athana) seems to act as a straight up politician. Not the usual for a committee meeting.
2. No detailed analysis of potential cost "saving" was ever done. #ABLeg
3. Comparative investment return data is complicated. But, not that complicated. She had a fellow there (Mulyk) who is an expert.
4. Nate Horner wanted an example of a plan where the GOA contributed >50%. Well, Nate that would be the old MLA plan where the GOA contributed 100%.
5. There should have been a technical briefing of Bill 22. Bill 203 sort of took on this role.
6. The study from ON that showed amalgamation of pension plans as a positive was for very small plans. <$2 billion #ABLeg
7. "Alberta Based" investment managers seemed to be a theme. Here is a tip, AIMCO outsources (to other managers) 40% of it public equity ($36 billion). Toronto, London and New York....

8. A benchmark is what median manger returns. Investment objective is different. #ABleg
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