The AB Teacher Pension War Room Profile picture
Jul 6, 2020 4 tweets 2 min read Read on X
The Pension War Room™️ after hours edition. Some required reading: #ABLeg

cbc.ca/news/canada/ed…
Sometimes I am in the twilight zone. Like when we hear a DM says she can't speak about BCIMC because she left BC two years ago. Wasn't she the one using it as an example for the last 6 months? Didn't she call in the chair of BCIMC Peter Milburn to OK everything? #ABLeg #milburned
Or when she said that Kevin's pay has no relationship to assets under management. That's just wrong.

Every couple of years the AIMCO Board reviews executive comp, calls in a consultant and norms his base pay to assets. #ABLeg #execcomp
But, also glad to get questions about the unfunded liability from 2008. It was assumed by the government in exchange for things from teachers. A real quid pro quo. Not a gift.

I am glad that the UCP MLAs were able to hear some of the history of GOA not making contributions.

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with The AB Teacher Pension War Room

The AB Teacher Pension War Room Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @yomeeks

Dec 31, 2024
The Pension War Room™️ marks the end of 2024 as "the death of pension irony". Where we had Minster of Finance Travis declare that @aimcoinvests was the best that there was. His successor (same govt) Minister Nate declares @aimcoinvests to be the worst there has ever been. #Abgov Image
So it follows by no logic whatsoever that the Board, CEO and a bevy of other executives must be fired and paid beaucoup $$$ for severance. This $$$ including dollars from teachers, nurses, and police officers who **do not** have any say in the goings on @aimcoinvests . #Abgov
"Trust Me" says Nate, oblivious to the fact that Travis tried this communication approach. Nate may find out as Evan did that it is difficult to operate an investment manager when your clients hate you. I'm sure his search for new board members isn't going well. #AbLeg
Read 4 tweets
Nov 20, 2024
The Pension War Room™️ again brings you this conundrum. Reasons for @NateHornerAB removing the AIMCO Board keep changing! Barb here, definitely has insider access. Read it

Alberta's preference for Stephen Harper was well known within AIMCo, sources say financialpost.com/fp-finance/alb…
To recap: the original reason for destroying @aimcoinvests was cost plus investment performance. We know know that wasn't true in any logical world.

Barb here floats reason #2: that CEO @ewsiddall was a "liberal" or a "Laurentian Elite". #AbLeg
The Stapler (keep in mind he is an idiot) floats reason #3 in the paper today: That the Board and CEO had the audacity to drag the organization into this century with ESG and DEI policies. The former as part of its legal fiduciary duty...
Read 6 tweets
Nov 19, 2024
The Pension War Room™️needs you to read this piece from the G &M. No, I can't link to it.

You may remember Mr. Willis from the original AIMCO conundrum. He is correct in this case, the pension plans bear the consequences of AIMCOs bad decisions. #AbLeg Image
To quote Mr. Willis:
"The day after Mr. Horner marched AIMCo executives out the door, LAPP put out a press release to say that “your pension remains safe and secure.” LAPP executives declined further comment... #AbLeg
...At best, the pension plan’s “safe and secure” line is wishful thinking, as no one knows where AIMCo’s investment performance is headed." #AbLeg

We are still awaiting the other shoe to drop. #AbLeg
Read 4 tweets
Nov 17, 2024
The Pension War Room™️ reviews this AIMCO quote from Bloomberg: "Employees have already told acquaintances they want new jobs, anticipating the province will begin treating the pension manager like a state agency and slash their pay." #Ableg
Yeah, so this is the hidden cost of @NateHornerAB's actions. A ton of employees with very specific skill sets have already sent their resumes out. This are employees who were very difficult to recruit to start with. #AbLeg
Most of the highly specialized skill sets @aimcoinvests don't grow in AB. They are only produced in major financial centers like Toronto, adding another level of complexity.
Read 4 tweets
Nov 3, 2024
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
Oct 12, 2024
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

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(