The Pension War Room™️ would like to note some whoppers about public sector pay are being passed around. #AbLeg
I wanted to provide this older (2014) critique of the Fraser Institute. It mirrors my own comments on this topic. albertapolitics.ca/2014/08/the-re…
The materially unreliable Fraser Institute seeps into everything from Gunter's column in the Edmonton Sun ("public sector employees should be happy with pay cut") to GOA reports. He quotes some stats, I think they were from the Fraser Institute. He doesn't say. #ABLeg
Heck even the KPMG in the MacKinnon report quotes Fraser.
My point is garbage in=garbage out. In their free market zeal enforced by their corporate overlords they make few (if any) data supported conclusions. #ABLeg
Labour economists would tell you that one of the reasons oil and gas jobs are so high paying is because of the cylical nature of the industry. And that employees are paid a market premium for that very reason. #ABLeg
The Fraser Institute study that concludes the AB public sector is 9% overpaid lumps federal, provincial, and municipal employees together.
It supports no conclusion that AB civil service is overpaid. #ABLeg
Even the MacKinnon report finds we have a low cost education system (2nd lowest in cost). And MacKinnon tells JK to get rid of Catholic schools if he wants to be the lowest. #ABLeg
And, remember Travis is the one who turned his nose up at $1.6 billion in savings from continued use of the ATRF as an investment manager. So don't come whining to me about money.
(Half of that would be for the GOA the other for half teachers.) #ABLeg
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The Pension War Room wants you to know that Drew Barnes is an idiot in the same vein as Trump; populist economic policy combined with a healthy dose of xenophobia. This is a paid ad gussied up to look like a national post article. #ABLeg nationalpost.com/sponsored/news…
This is the new thing in print "journalism". The @nationalpost will print anything for money and have no qualms about passing it off as an article.
This advertisement-article was paid for by a PAC that was set up to skirt political financing law in AB. #ABLeg
It returns to @jkenney favorite, and,as yet unstudied desire to withdraw from CPP and form an APP.
The errors are many, but considering that we are currently paying millions to have this stupid idea researched, Drew is really tipping his hand here. #ABLeg
This is your daily pension announcement! I was going to spend today's installment educating about "material misstatements" and other things that would get a corporate exec fired. No need just read this..... #ABLeg
I have said before, and I say again, Travis is financially incompetent. He is not able to understand the concept of risk adjusted rate of return. Or, the idea that a pension fund with a higher return might cost you less in the long run. #ABLeg
Just the mere thought that some bush league tricks would fluff up the the dire UCP financial performance and outwit the AG is ridiculous.
Capitalists never do socialism well. It only ends up as graft for cronies. Sturgeon refinery needs its own inquest. See toryland. #ABLeg
Just so you know I will be retweeting this interview every day. @SPhillipsAB is on 🔥🔥. Parallels in pension policy can not be ignored. No research or shoddy research behind multi-billion dollar decisions. The CPP advice that Exec Council got quotes seriously flawed Fraser Inst.
Travis: "We have a detailed business case prepared to support moving pension asset management to AIMCO." (Neglecting the fact that they are not his assets to move in the first place.)
FOIP release: A marketing brochure written by AIMCO.
Then, since no civil servant was charged with an actual analysis (as they very likely substantially disagreed) Travis and Athana sent it out to some mook in BC named Peter Milburn for a positive opinion. #AbLeg
(Athana came from BC and worked with Peter back in the day.)
Politicians who stake their lot on populist rhetoric seem to be at odds with the most basic of facts. Dates, time, places and the like. And turn everything into an "us versus them" dichotomy. #ABLeg
Making public policy based on the latest Fraser Institute half-truth is not good. It might get you elected; it won't get you reelected.
We even have our our own Rudy Giuliani cosplayer in Jack Mintz. Where will our Four Seasons Landscaping be? #ABLeg In a feedlot somewhere?
"Phillips said Albertans deserve clear communication from the finance minister and open consultation on any potential changes to the investment fund."
Yup. And, we also deserve to know what Kevin has been lobbying Travis on. #ABLeg
And, piling on....
"She said the reported losses revealed weaknesses in the governance and oversight of AIMCo, issues which will not be resolved without improved transparency from the province."
Transparency, governance and oversight at AIMCO are teachers' number primary concern
This is your daily pension announcement. The AG opens up a can of whoop-ass for @jkenney and Travis! Here is a page from the AG report where an old series of pension recommendations are being stood down.
Smart like fox: this is a warning to the boys! #ABLeg#spankme
These recommendations are from when Horner tried to cut public sector pensions. It never happened and Horner was unemployed in short order anyway.
But, the warning is don't unilaterally mess with pensions to punish unions and push your fascist agenda. #ABLeg
Read the recommendations with an eye to what the GOA did to teachers' pensions:
-consult with stakeholders
-do cost/benefit analysis for any proposed changes
-research effects of plan design on employees
none of this was done with Bill 22 #ABLeg