This is your daily pension announcement. The Pension War Room™️ would like to remind you that the AIMCO takeover of investment management was sold as "in-sourcing to save money." Whereas with AHS outsourcing seems to save. WTF? #ABLeg
The only commonality is that in both cases strong UCP supporters get rewarded. I wish that Travis was not so into bad financial management.

The UCP needs to fight with someone, and now it is going to be unions. Moving the starting wage at AHS from $17 to $15 is no help. #ABLeg
A 7% rollback for employees that were 22% overpaid to begin with? You have got to be kidding me. How about downsizing your team to what Rachel's was?

How about spending $20k on a risk adjusted rate of return study for AIMCO and ATRF? #ABLeg
Just sayin.....the NDP had a pay and hiring freeze in effect for almost their entire term.

The UCP kept the freeze in place. Interesting to note that MacKinnon recommended lifting the freeze. #ABLeg

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More from @yomeeks

17 Oct
This is your daily pension announcement: That little guy Shandy is up to his old tricks! The same as Travis when he dropped the pension bomb. Cover it with a friendly sounding Op-Ed in the UCP's favorite rag. #ABLeg…
I don't want to give this gas lit missive any more oxygen, so I will just say the real damage that Shandro is doing to rural healthcare will not be felt for 1-3 years.

He is wrongly declaring victory. #ABleg This is going to backfire just as it did for Travis.
"It’s not easy to talk about how much taxpayers should pay Alberta’s doctors."

I disagree. It is easy, but you would need to talk to doctors. Being a junior dictator to doctors is an interesting way to "talk". #ABLeg
Read 5 tweets
12 Oct
The Pension War Room™️ wonders why Travis would put his foot in his mouth again? Shandy? Shandy? Where are you little buddy? Travis is stealing your level of stupid. #ABLeg…
Ever get the feeling that all this Western alienation talk is really politicians living in the past trying to deal with the NEP?

Why does Travis have a typo in his press release? Don't we pay the communications people enough? #ABLeg
So many questions, so little time.

In a free market economy the government only has very limited influence over the economy. Things like commodity prices and structural revolution in the economy..... #ABLeg
Read 4 tweets
11 Oct
The Pension War Room™️ brings you the advice that was given to Travis on the CPP! Since all this RCMP stuff is hitting the fan, I gotta pile on. Nobody wants an Alberta Pension Plan to replace CPP. #ABLeg

Especially since it would cost more. Lots more.
Travis was given advice on withdrawing from CPP on Sept 18, 2019. It read in part:

"The ability to pool risks associated with longevity, mortality, and investment, which are an advantageous feature associated with funding defined benefit pension plans,..."
"...would be considerably smaller under an Alberta Pension Plan."

In other words, withdrawing from CPP would be a risky financial proposition. #ABLeg #dontpullout
Read 10 tweets
3 Oct
This is your daily pension announcement. The Pension War Room™️ realizes this might be TL:dr, but you are interested who Travis appointed to the AIMCO Board then read the following. Mr. Kelly was born in Canada but has lived in NY for years and years.…
I am not even sure if he is still a Canadian citizen. He left Wachovia (as CFO) just before the financial crisis. Wachovia, of course, imploded during the crisis and shareholder's equity was wiped out. Shareholders included some large pension funds. #ABLeg
Travis consulted none of the AIMCO clients that make up the majority of their business. He keeps acting like the Heritage Fund, in its withered state, is the whale at AIMCO. I am including the article above because Travis likely didn't share a ton of info with his peers. #ABLeg
Read 5 tweets
2 Oct
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…
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
Read 8 tweets
27 Sep
This is your daily pension announcement: The Pension War Room™️ declares it nonperformance day! LAPP Q2 results are out and they speak for themselves. Less than benchmark for Q2, YTD, 1 year, and 4 year. #ABLeg #AIMCOfail #milburned Image
The organization with the highest executive salaries seems to receive the least scrutiny. I wonder why that is?

This is perfectly predictable as the value add for the last five years was lost with the VOLTS debacle. #ABLeg
The GOA seems to have repudiated joint governance. Next time (and there will be a next time) unexpected losses mount the plans should charge them to the GOA.

After all we are forced to use their investment manager. #ABLeg #riskexposure
Read 4 tweets

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