The AB Teacher Pension War Room Profile picture
Oct 2, 2020 8 tweets 4 min read Read on X
This is your daily pension announcement: Rob Anders and his pension! Wow. The problem with the far right is they benefit from roads, hospitals and national defense but believe they don't need to pay for it. #ABLeg #TaxationIsTheft

calgaryherald.com/opinion/column…
He hasn't been found guilty of anything yet (other than being the worst MP ever). Who shit talks Nelson Mandela? Rob Anders does.

Early in his career Rob castigated the MP "pension" plan. Later in his career I believe that he felt entitled to it. #ABLeg
This is where @jkenney gets his wrong headed info about defined benefit pension plans. The MP plan is the worst example. Remember, public sector DB plans generally have 50/50 employee/employer contributions.

Before 2016 the MP plan had a 96%/4% contribution split. #ABLeg
That's right, it was actually a taxpayer ripoff scheme. MPs put in $1 for every $23 that the GOC put in. That's just wrong.

Rob only has 14 years as an MP. This earned him a pension of $100,000 per year. #ABLeg
Anders is in some real trouble here. The CRA as a conviction rate north of 92% on tax evasion charges. It is important for the CRA to convict someone every couple of years. It breeds confidence in the taxation system. #ABLeg
In unrelated news, a New York banker named Robert P Kelly was appointed to the AIMCO Board today. Obviously Mark Wiseman's pick.

Teachers had absolutely no influence on this pick with no representation on AIMCO's Board. #ABLeg
For that matter no pension plan had any influence as the GOA is the sole shareholder of AIMCO and accepts no input from everybody. #ABLeg Please consider the GOA solely liable for all the stupid things AIMCO does.
I am certain Robert Kelly does not understand the depth of what he has just gotten into or that most of AIMCO's clients hate them.

I wont tell you what I think of Mr. Kelly just yet. If you are interested go look up his role at Wachovia during the financial crisis. #ABLeg

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More from @yomeeks

Nov 3
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
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
Sep 8
This is your daily pension announcement. The Pension War Room™️ is mildly piqued at the continued operation of @aimcoinvests without a Board Chair. Speculation centers around the UCP trying to appoint a politician and failing (twice) on conflict of interest grounds. #AbLeg
It is well past time that I remind you if you have a DB pension plan the money in that plan IS NOT your employers. It is held, in trust, and cared for by a trustee. That trustee has the fiduciary responsibility to invest wisely and to pay out benefits to you when the time comes.
It's important for me to hammer home this concept in law as we seem to have lots of MLAs and senior civil servants confused about this. Various FOIP requests have provided ample examples of teachers' pensions being referred to as a GOA "program". They are not. #Ableg
Read 5 tweets
Mar 29
This is your daily pension announcement. The Pension War Room™️ can't believe this needs to be said again. But, after some side comments from some local UCP MLAs, here we go:
1. The GOA is a minority (49%) contributor to the
teachers' retirement plan. #ableg
2. The GOA does **NOT** guarantee pensions. They are guaranteed by the assets in the plan. (There was a guarantee until 1992.)
3. Since the GOA contributes 49%, they appoint half the Board Members to the ATRF Board. #AbLeg
4. The ATRF Board is the trustee with a fiduciary
duty to the plan members. Selecting investment
strategy and **in any normal world** hiring
investment managers is their responsibility. #AbLeg
Read 5 tweets
Feb 11
This is your daily pension announcement: The Pension War Room™️ is awash in the irony that is the TBA faction of the UCP caucus. Did the slide deck used to convince caucus of DS's latest flaky idea have data from a fake polling firm? I feel the need to know. #AbLeg
We are expecting the @ATRFPension Annual Report (to Aug 23) to come out this week. We will be able to see just how far @aimcoinvests has come to saving us $40 million each and every year. My informed opinion is they have saved teachers $0. Every claim AIMCO made was false. #AbLeg
Here again, for posterity's sake, is the **top level** analysis done by AIMCO and provided to TBF. This really shows two things: AIMCO can't recognize the Mother of All conflicts of interest, and is AIMCO is incapable of calculating a risk adjusted return. #AbLeg Image
Read 7 tweets
Dec 12, 2023
This is your daily pension announcement. The Pension War Room™️ reveals this King's Bench pension decision. If you recall, LAPP, PSPP and SFPP are holding @aimcoinvests and GOA accountable for $1.33 billion dollars of VOLTS losses. #ABLeg
canlii.org/en/ab/abkb/doc…
It looks like the GOA tried to sever themselves from the (top secret) arbitration hearing. So your hardworking pension plans needed to go to King's Bench Court to have the GOA again added as a defendant. Which they were, with costs. #AbLeg
This is a thorough ruling. It is hard to think that they even argued such a stupid position: that the GOA had no responsibility for @aimcoinvests even though they own them and are responsible for appointing board members. #AbLeg
Read 6 tweets

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