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23 Jan, 4 tweets, 3 min read
This is your daily pension announcement: Great letter to the editor here. Truth bombs getting lobbed at @nateglubish . Pensions are not a gift. They represent deferred wages that are held in trust then paid out when a worker can no longer work. #ABLeg

sherwoodparknews.com/opinion/letter…
UCP MLAs need to look up "fiduciary duty" and "trustee" to understand the role of the ATRF Board. This money does not belong to Travis. A point that he has continually refused to acknowledge. #ABLeg #handsoffmypension
benefitscanada.com/news/alberta-g…
Kevin resigned after he lost $2 billion. @jkenney has lost a comparable amount...the writing is on the wall. (BTW don't believe any final tally on KXL until audited numbers are in. The UCP have made several billion dollar accounting "mistakes" in the past.) #ABLeg #handsoff
The search for a new AIMCO CEO is proceeding with a head hunter contacting various candidates and gauging their interest. None of the current executive team should dig in too deeply. A housecleaning is likely. #ABLeg #handsoffmypension

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More from @yomeeks

The Pension War Room Profile picture
22 Jan
This is your daily pension announcement: Corbella (I don't believe I am amplifying her) provides an almost complete list of UCP mistakes. She forgets the pension takeover debacle. Of course, she only gets so many words. #ABLeg
#handsoffmypension
edmontonjournal.com/opinion/column…
People have super long memories about pension monkey business. Just ask Horner his "pension reform" effort coincided with the end of his political career.

Travis thinks public servants will forget all this.
Not so much. #ABLeg
As well I would like to ask the question, @SPhillipsAB :
Is AIMCO violating the law by not listing Board and exec expenses and receipts on their website? You know like ATRF does? #ABLeg
Read 5 tweets
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
19 Jan
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
Read 5 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

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