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20 Mar, 4 tweets, 2 min read
The Pension War Room™️would like to remind you that the AIMCO Board is also legally obligated to disclose their expenses. Like every other board in Alberta.....

Some pigs definitely more equal than others.
calgaryherald.com/news/local-new…
Back in the day I attended the occasional conference with ATRF. Often I would be on the same flight as AIMCO folks going to the same conference. I always wondered why they had limousines waiting for them at the airport. I took the shuttle bus. #AbLeg
One more comment on that puff piece yesterday on @MarkDWiseman. It wasn't the focus of the article but I really wonder what he thinks about the investment management agreement that Travis forced on ATRF. #handsoffmypension
And the resultant legal action. I think the Financial Post makes it clear, in an understated way, that it is extremely unusual to force clients on investment managers.

BTW this makes it difficult for the ATRF to exercise its fiduciary duty. #AbLeg #handsoffmypension

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More from @yomeeks

The Pension War Room Profile picture
21 Mar
The Pension War Room™️must work hard to get through this Stalinesque level disinformation campaign.

TBF has "briefings" and "explanations" for MLAs so they can learn about hot topics and their press lines. Some of these were on teachers' pensions. #AbLeg #handsoffmypension
Either a group of MLAs (~4 and counting) confused the message, or they were given an entirely incorrect version by Athana and TBF. This is one of the problems with importing Deputy Ministers from BC. I lived through all these events and they affected my family in a material way.
There argument seems to be that because the GOA is paying the pre-1992 liability, that the GOA can do whatever they want with the post 1992 plan. Incorrect. Selective on the facts. #AbLeg #handsoffmypension
Read 13 tweets
The Pension War Room Profile picture
19 Mar
This is your daily pension announcement: The Pension War Room™️steps into the toxic sludge that is the Financial Post to fish out some @MarkDWiseman hot takes! Read it and I will unpack the shit takes for you. #AbLeg #handsoffmypension

financialpost.com/news/fp-street…
First, the facts are largely correct in this article. They fail to mention that Travis has a legislative power to issue "directives" to AIMCO. An oversite I am sure. #AbLeg #handsoffmypension
Second, I am glad that he is setting up a committee to look at reputational risk for AIMCO. Their reputation has really taken a beating. I don't think he understands how much his pension clients (80% of assets) hate him and AIMCO. #AbLeg #handsoffmypension
Read 8 tweets
The Pension War Room Profile picture
18 Mar
The Pension War Room™️ notes that an incredible number of people from AIMCO are searching my profile on Linked In. At the same time, Linked In is recommending a number of jobs at AIMCO for me to apply to. I am flattered on both counts. #AbLeg #handsoffmypension
But, I think I will let the HR machine at AIMCO replace the Senior VP of Public Equities first. As that position has been empty a long time. Remember, he was fired after the VOLTS fiasco. #AbLeg #handsoffmypension
I have started a website: pensionwarroom.ca Lots of people have been asking me to publish fact sheets and the like. I will do so over the next little bit. I also think it important to have a spot to publish all the legal documents regarding this lawsuit. #AbLeg
Read 6 tweets
The Pension War Room Profile picture
12 Mar
The Pension War Room™️ would like you to know that the ATA and good old yours truly have dropped a lawsuit on Travis. I am proud to be one of the applicants in this legal action. #AbLeg #handsoffmypension
If you want more details, here is the press release from the ATA complete with pdfs of all the important documents. For those interested: fill yer boots! #AbLeg #handsoffmypension

teachers.ab.ca/News%20Room/Is…
The legal arguments are multifaceted. And, likely not to be solved until the SCC gets involved. But, here we are taking an important step. It is my position that Travis has violated both the Teachers' Pension Plan Act and the AIMCO Act in imposing an IMA. #AbLeg #AIMCOfail
Read 6 tweets
The Pension War Room Profile picture
10 Mar
This is your daily pension announcement: The Pension War Room™️ would like you to laugh today. So I bring you a line from a briefing note given to Travis last June 10:

It was a briefing on Bill 203 that sought to undo the travesty of Bill 22. #AbLeg #handoffmypension
I quote:

"There was strong negative reaction to these (Bill 22) changes from pension stakeholders. AIMCO has since reported significant losses, which has fueled this negative reaction."

Ain't that some shit? #AbLeg #handsoffmypension
I laughed my ass off when I read that.
Of course, Travis is/was blinded by his own ideology. He, like any elected official, should have had some consultation with stakeholders. He did nothing. Travis deserves the truth in his briefing note. So.... #AbLeg #handsoffmypension
Read 5 tweets
The Pension War Room Profile picture
9 Mar
The Pension War Room™️brings you the "you can't handle the truth" edition. You need the truth and not talking points. #AbLeg #handsoffmypension

edmontonjournal.com/news/politics/…
This is a bit wrong: UCP MLA Whitney Issik cited a Benefits Canada survey that rated LAPP highly FOR PENSION ADMINISTRATION, not investment. FYI pension admin is very important but less sexy than pension investment. #AbLeg #handsoffmypension
She isn't on Twitter, so I will send her an email later. Just so you know, Alberta Pension Services provides pension admin services to LAPP. AIMCO has not met LAPP's investment objective for a single quarter over the last 12.5 years. #AbLeg #handsoffmypension
Read 5 tweets

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