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Greg “Big Ed” Meeker Profile picture
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18 Oct, 6 tweets, 2 min read
The Pension War Room™️ remember! Remember when Travis said:

"Further, I want to emphasize that AIMCo operates independently and at arm’s length from the government, and its only goal will be to serve the best interests of the ATRF as its client." #ABLeg
Remember that the next time Travis appoints new AIMCO Board Members without the knowledge or consent of the clients. What do we do if they perform poorly?

GOA= sole shareholder of AIMCO w/absolute control
also GOA=minority partner in ATRF
#ABLeg
As for the #UCPAGM2020 who just voted in favor of separating from CPP:

calgaryherald.com/opinion/column…
Some have incorrectly said that the move will result in lower contribution rates...

"Some claim an Alberta plan could have lower contribution rates. A small reduction might be possible in the short term, but that would leave future Albertans facing higher unfunded liabilities."
That claim is only made by people wanting it separated for political reasons. They do not have your welfare and financial security anywhere on their radar.

Can we get an actuary here please? #ABLeg
I will just leave this right here....

"CPP’s investment arm enjoys a wide reputation for its independence, focused mandate and performance. In contrast, AIMCo has multiple clients with multiple mandates, some of which are directed by the provincial government."

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More from @yomeeks

Greg “Big Ed” Meeker Profile picture
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

edmontonjournal.com/opinion/column…
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
Greg “Big Ed” Meeker Profile picture
15 Oct
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
Read 4 tweets
Greg “Big Ed” Meeker Profile picture
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

albertapolitics.ca/2020/10/the-uc…
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
Greg “Big Ed” Meeker Profile picture
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
Greg “Big Ed” Meeker Profile picture
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.

money.cnn.com/2011/11/18/new…
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
Greg “Big Ed” Meeker Profile picture
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

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
Read 8 tweets

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