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 20
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
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
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
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

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