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19 Jan, 5 tweets, 3 min read
This is your daily pension announcement. The Pension War Room™️ is going to DEFCON 2, live lawsuit on the horizon! Ohh boy this will be something.... They quote me as well. Ain't that some shit? #ABLeg #handsoffmypension

edmontonjournal.com/news/politics/…
Let's have a trip to the Supreme Court of Canada, because the nature of the fiduciary duty of the ATRF Board needs to be enforced. No one in the UCP gives a shit. But do remind your MLA how much this is going to cost AB taxpayers. They have legal advice already about this. #ABLeg
The SFPP (municipal police officers pension plan) doesn't even have anything directly to do with the GOA. Municipalities and police officers both make contributions and run the plan. They have been upended into AIMCO as well. #ABLeg #UCPsucks
No one ever accused Travis and Jason of being financial geniuses. Just look at KXL. It could be billions down the drain. Bet billions of taxpayer money on a project that had a 30% chance of success at best. Then shit talk the one person who could help... #ABLeg #fail
We deserve better than the mini-Maga crew. #ABLeg #minimaga

I have much more to say but I need a break.

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More from @yomeeks

The Pension War Room Profile picture
19 Jan
The Pension War Room™️brings you this informed and insightful commentary from Dr. Bob Ascah. This is the greatest one article account of the entire sordid affair. #ABLeg #handsoffmypension #Travisfail
abpolecon.ca/2021/01/17/ucp…
"The key point reiterated by the union leaders was the money being managed was not government money but the savings of hundreds of thousands of Alberta public sector workers and retirees."

Take that into your MLA meeting. #ABLeg #handsoffmypension
And,

"Firstly, it seems the UCP government is following its formula of acting in an adversarial manner with public sector workers....Affected parties simply are not consulted." #ABLeg
Read 7 tweets
The Pension War Room Profile picture
17 Jan
The Pension War Room™️ brings you the ATRF annual Report! A glorious day. Download your copy below if you like. A reminder that the year end for ATRF is Aug 31, unlike the other funds. Be cautious making comparisons. #ABLeg #handsoffmypension

atrf.com/corporate/news…
First thing to note: no change in contribution rates for next year. This is good, considering we just came off a decrease last year. In a DB plan the benefit is defined in law, but the cost sure isn't. Keep an eye on costs. #ABLeg
Fund now over $19 billion. Investment return was 5.5%, below a benchmark of 7.3% Not unexpected. Go to the bottom of Pg 93 and you will see this is the first time in 10 years ATRF has been below benchmark. #ABLeg
Read 7 tweets
The Pension War Room Profile picture
16 Jan
This is your daily pension announcement. The Travis goes balls to the wall edition! It has been a busy week in pensions, so I will again dive into the dung heap with an open mouth. First up Mark (AIMCO Chair) makes a statement...#ABLeg #handsoffmypension
aimco.ca/insights/messa…
Read it carefully, because most of what he wrote is true.

"These factors define the success of the Canadian model of pension management." True. But he needs to acknowledge that ATRF had for generations contributed to the success of the Canadian pension model. #ABLeg #AMCOfail
The real humdinger is:
"The terms and conditions included in the Ministerial Orders are in the best interest of both AIMCo and its clients and clearly align interests."

Nope. That is why 0 out of 4 pension plans have signed an agreement. Take that to your MLA. #ABLeg #handsoff
Read 10 tweets
The Pension War Room Profile picture
13 Jan
This is your daily pension announcement! The other shoe has dropped edition. The ATA put out this release today. Loyal Tweeps, you know that the ATRF and AIMCO have been negotiating an Investment Management Agreement (IMA) for the last year. #ABLeg #AIMCO

teachers.ab.ca/News%20Room/Is…
Apparently, negotiations have failed and Travis has imposed an IMA by Ministerial Order on Dec 23.

Merry F***ing Christmas! @schill_dawg essentially calls Kevin a bitch! Read it and see. #ABLeg #AIMCOfail #Christmascameearly
You wouldn't know that it had become law as it isn't listed with all the other Ministerial Orders on the QP website. I didn't think that was legal, to sign an MO and then keep it hidden from people like me. But, oh well. Nobody has ever accused Travis of being a genius. #ABLeg
Read 16 tweets
The Pension War Room Profile picture
1 Jan
This is your daily pension announcement: Please remember YYC, the average LAPP pension paid is $18,000. Even at that amount the AstroTurf organizations with secret donors seem concerned. #handsoffmypension #ABLeg
The numbers are in! The pandemic has been good to some people...

To the end of 2020 North American billionaires (661 of them) have profits totaling $1 trillion dollars from the beginning of the pandemic. That is a cool trillion baby! #handsoffmypension #ABLeg
Which again makes me wonder about the abject stupidity of changing Alberta from the lowest corp tax province to the ultra-lowest corp tax province. Corporations pocketed the profit, made some Cayman Island deposits and Bob's your uncle. #ABLeg #Travisfail
Read 4 tweets
The Pension War Room Profile picture
30 Dec 20
This is your daily pension announcement: What should the Board of AIMCO look like? For an answer to this question look no further than the report prepared by Bill Moreneau when some tiny pension plans were being amalgamated in ON. #ABLeg
Travis didn't realize he needed a report here before messing with public sector pension plans. He claimed public knowledge of his plans would be "damaging". Why can they do it in ON then? #ABLeg #idiot
To transfer Bill Moreneau's well researched recommendations to AB we would have an AIMCO Board with 11 directors: 6 (including the chair) would be appointed by the GOA, 3 by the clients (LAPP, ATRF etc) and an additional 2 by the plan members (you and me). #ABLeg
Read 5 tweets

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