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21 Feb, 6 tweets, 4 min read
This is your daily pension announcement. The Pension War Room™️ recognizes that the GOA budget is imminent. Ah... remembering MacKinnon it has been so long since so little was done. #AbLeg #handsoffmypension

afl.org/don_t_believe_…
Remember that Travis, in his last fiscal update said something to the effect of: "AB spends a bit more than BC per capita on education, therefore education is well funded in AB". Travis loves to start a sentence with something that is true then veer off from there... #AbLeg #fail
The truth is that BC spends the least in Canada, AB the next lowest. AB would have the lowest spending if they did not generously support private schools and busing. #AbLeg #handsoffmypension
This always gives me a chuckle because MacKinnon was on a mission to say that education in AB is lavishly funded, but couldn't because it wasn't true. Per capita expenditures in AB are substantially less than the average of the other populous provinces. #AbLeg #handsoffmypension
Strap in, it is going to be a wild week. The truth is going to be getting a beating. I predict further cuts to education in this budget. #AbLeg
Again, thanks to @MarkDWiseman for making a strong statement against political interference in the hugely successful Canadian pension model. I hope he can talk some sense into Travis. #AbLeg #handsoffmypension

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More from @yomeeks

The Pension War Room Profile picture
19 Feb
The Pension War Room™️ passes on this wisdom from the current AIMCO Board Chair. It seems to me he is throwing shade on Travis and @jkenney. Read it and tell me if I am wrong..... #AbLeg #handsoffmypension

bnnbloomberg.ca/mark-wiseman-t…
He starts by recognizing that Canadian pensions are "well managed and safe" especially when compared to the rest of the developing world.

Then the bomb:

"it is vitally important that these plans continue to operate with the independence and strong corporate governance" #ALeg
Independence? That has been established as critical to successful pension funds. I wonder what he thinks about Travis meddling in investment managers for ATRF.....

Strong governance? I wonder what advice he is giving Travis about AIMCO..

Mark tells us:
#AbLeg #handsoffmypension
Read 7 tweets
The Pension War Room Profile picture
18 Feb
This is your daily pension announcement! Management Employees' Pension Plan (MEPP) has their 2019 Annual Report available. AIMCO earned return: 12.5% against a benchmark of 13.3%. Not good. Bonuses should never be paid for below benchmark performance. #AbLeg @premiamgmt #fail
Not a big problem for MEPP, after all, they are 120% funded. Interesting to note that AIMCO charged MEPP 80 bps in costs. ATRF last year had investment costs of 76 bps, Travis tell me again how Bill 22 is going to save money... @AbLeg #handsoffmypension
@JasonCoppingAB has not replied to my email about the errors he was making about pensions. MEPP is a good example of a single sponsor (ie not joint) plan. Travis is the sole authority for the plan and is responsible for deficiencies. It is also fairly small ~$5 billion. #AbLeg
Read 5 tweets
The Pension War Room Profile picture
14 Feb
This is your daily pension announcement! Not feeling the love today edition. I want to just remind we still have no reliable answer as to how many billions went down the toilet🚽 with KXL. #AbLeg #handsoffmypension
Our pension topic of the day is about MLAs wrongly telling AB that the GOA is responsible for any deficiency in public sector pension plans. Some plans are like that, not the major AB public sector plans though. #handsoffmypension
Joint (or risk shared) plans like ATRF split the liabilities between the GOA and the teachers. Which is only fair that it mirrors contributions. And these liabilities are paid off in a 15 year time period max. #AbLeg #handsoffmypension
Read 7 tweets
The Pension War Room Profile picture
11 Feb
This is your daily pension announcement: The ATRF is dropping the truth munitions! Check this shit out. Can you say boom?💣💣💣 When they say "public statements" they mean the incorrect MLA statements. #AbLeg #handsoffmypension

atrf.com/teacher/news/c…
This is a new low for democracy. Elected officials saying things that are flat out wrong ("the GOA guarantees your pension!") or injurious to taxpayers ("the GOA assumes all unfunded liabilities!). #handsoffmypension #AbLeg
The MLAs have corrected their press lines, but not (to my knowledge) issued any retractions.

So to clarify: AIMCO broke off negotiations in November.

AIMCO is insisting on the clause that does not give ATRF full decision making control.🤮🤮

#somebullshithere #AbLeg #handsof
Read 9 tweets
The Pension War Room Profile picture
31 Jan
This is your daily pension announcement. Lots of you have heard back from your MLA with the the statement below👇. This one is from @JasonCoppingAB, but they are all the same. You need to go back at your MLAs HARD because this is some Stalin level disinformation. #AbLeg #abpoli
In no particular order I will run through the errors:

1. "the Alberta Government ...holds the liability of the ATRF plan.."

Absolutely, unequivocaly false. Read the Teachers' Pension Plan Act. Any liabilities are paid off 49% by the GOA/51% by the teachers. #AbLeg #abpoli
This is a risk shared plan, teachers pick up 51% of the financial risk. This is a benefit to the taxpayers. Not all plans in Canada are risk shared but ATRF sure as hell is.

(even the Fraser Institute admits this) #AbLeg #handsoffmypension
Read 17 tweets
The Pension War Room Profile picture
30 Jan
This is your daily pension announcement: The Pension War Room™️ watched the Standing Committee on the Heritage Fund with great interest. The transcript and video are available below. You get all the greats: AIMCO Kevin and TBF Athana. #AbLeg #AIMCOfail

assembly.ab.ca/assembly-busin…
Question of the day goes to @SPhillipsAB who asked with a below benchmark 5 year performance, why have we paid out $57 million in pay and performance bonuses to the top 10 AIMCO execs? Performance bonuses for what? #AbLeg #handsoffmypension @premiamgmt
Remember, Heritage Fund 5 year return is 6.8%, well under the benchmark of 7.4%. We could have paid AIMCO managers to stay home for 5 years and we would have done better. #AbLeg
Read 6 tweets

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