So this happened. Copy a song list from Virginia, and this is what you get. I will make a couple comments from my area of expertise (Science Education) about the Guiding Framework for K-12. It is available, Google it. #ABLeg
Like all guiding documents it is very non-specific. But, if you believe the UCP is trying to drive conservative bias into the K-12 curriculum there are some veritable freeways available. #ABLeg
First, the document recognizes
"Alberta has a world-renowned tradition of educational excellence."
Yes, it does. And that is partially due to the complex, strong and advanced curriculum presently used. The Minister's job should be not to mess it up. #ABLeg
Next, in the section on science:
"The Curriculum will - be scientifically rigorous, while respecting a variety of beliefs in our pluralistic society;"
This statement is sometimes used to avoid or denigrate the teaching of evolution in science. Not a matter of belief. #ABLeg
Next, still in science:
"Students will learn environmental stewardship and sustainability, with specific factual content about the natural historic and prehistoric cycles of climate change" #crap#ABLeg
Why link environmental stewardship with the ice ages you ask?
This paves the way for climate change denial. Hey kids, climate changed back in the ice age, what is happening in the last 150 years is perfectly natural! (this isn't true but is often an argument from deniers.) #ABLeg
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This is your daily pension announcement: Remember this article? It makes me livid to this very day. Especially the part where:
"...Jerrica Goodwin, said government wants to consolidate pension management with AIMCo to achieve "economies of scale." cbc.ca/news/canada/ed…
That, of course is horse shit. More to the point, doesn't that quote make is seem that Travis is MANAGING the ATRF funds? You know making decisions about where the funds were invested and all? #ABLeg#idiot
I will quote from the Teachers' Pension Plan Act which lays down the law on this topic:
"17 (3) The Board shall
(a) INVEST or lend the assets of a Pension Fund in a manner that is not excluded by the regulations, and"
This is your daily pension announcement: The Management Employees Pension Plan edition! Unlike the teachers' plan, MEPP only has one sponsor namely Travis. So he can (and does) make unilateral decisions here. (Fun fact, AIMCO managers used to be members of this plan.) ##ABleg
First important fact, is that it is almost 2021 and they have not yet posted their 2019 Annual Report. Interesting choice. If you were a member of the plan you might want to inquire as to why that is. #ABLeg#travisfail#hidesomething
Next, I know this question is on your mind, how badly did the VOLTS debacle affect MEPP? Take a look @premiamgmt it is not pretty. #ABLeg#AIMCOfail
This is your daily pension announcement. The SFPP edition! I will include some comments about this pension plan, some of the comments are mine some are not.
SFPP you will remember is the pension plan that covers municipal police officers (ie. not RCMP) across AB. #ABLeg
Data from 2019 suggests that Alberta’s public sector pension plans make up 10.79% of the active workforce. Not "a small number" as put by Travis. #ABLeg
Travis sez "economies of scale":
SFPP (like many plans) is administered by the provincial pension administrator, Alberta Pensions Services Corporation. SFPP’s administration cost per member is $235. ATRF is self-administered at $84 per member, and UAPP @ $124 per member. #ABLeg.
This is your daily pension announcement:
Remember when Travis was shit talking public sector pensions?
“Public service pensions are paid for by Alberta taxpayers."
He neglected to mention that GOA makes less than half the contributions. #ABLeg
He also failed to mention that, in the case of teachers, GOA didn't even make their contributions from 1957 to 1992. Contributions they were legally obligated to make, I might add.
Travis was clearly unaware of these facts. I hope he has learned from this experience. #ABLeg
He also neglected to opine as to why forcing the pension plans to use an under-performing investment manager was a good idea.
It would be great if some teachers could write to him and ask these questions as he refuses to be interviewed on this topic. #ABLeg
"Alberta Investment Management Corp. CEO Kevin Uebelein is on his way out, having led the public fund as it lost billions on wayward volatility trades and became the center of bitter political battles between the province’s far-right government and its own unionized clients."
No one has encapsulated so much with so few words. Even to generally right leaning institutional investors our good ol' 'berta qualifies as a far-right govt.
As I have previously opined, Kevin's major error was putting himself at the center of a political decision. #ABLeg
This is your daily pension announcement, the Alberta Fiscal Update edition! As you probably well know, Travis provided the Fiscal update available below. TL:dr is okay, I will bring you the naughty bits. #ABLeg open.alberta.ca/publications/6…
First, from the update Travis opines:
"Government obligations for pension plan liabilities are $415 million lower, mainly from improved valuations for the two Teachers’ Pension Plans. Other liabilities have decreased $567 million."
That's right, great investment returns from ATRF have made Travis $415 million. That should give any Minister of Finance pause. Like don't move the management over to AIMCO kind of pause. Travis is in a financial bind and is turning his nose up at future cash. #ABLeg#idiot