Thread by @yomeeks

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"

(caps added)

"(b) MANAGE those assets for the sole benefit of the persons entitled to the respective benefits."=

It is the ATRF Board NOT the GOA that has the duty and obligation of investing and managing the funds of ATRF.
The TBF statement says the GOA is trying to manage the fund.

And they seem to be managing it by shoring up a troubled asset manager. In other words, not managing for the sole benefit of the beneficiaries.

Believe me this is going to come back and bite them in the ass some day. #ABLeg

Also in the Act:

23(1) Subject to any other provisions of this Act..., the Lieutenant Governor in Council may, on a recommendation made by the Minister following CONSULTATION with the Board, make regulations establishing provisions of a legislative nature...

That's right, Travis is required to consult when he changes a regulation. Now Travis changed the Act, not a regulation to get around this. This will also come to bite him in the ass some day. #ABLeg

And finally from the Act about changing plan rules:
14(1) ..... (b) that subject-matter has been the subject of negotiations between the Education Minister and the Association, ...

That is right, required to negotiate with the ATA when changing the plan rules. #ABLeg #travis

In reading this Act all the passages about negotiating appear to have only convinced Travis that he has no obligation to negotiate about changes to the plan.

That, ladies and gentlemen, is who you are dealing with. #ABLeg

Sorry to make technical legal arguments on Twitter, it is not the best platform for that. But I really wonder what type of legal advice Travis is getting and if he listens to the advice he receives. #ABLeg I am still irate.