In pension news, if your MLA is still having a hard time coming to grips with the fact the GOA does not guarantee out pensions, I will provide you with some quotes on the matter from Seeking Solutions Report to the Minister of Education on the Teachers' Unfunded Pension Liability
This was written in 2007 by @LukaszukAB, Evans and Scott and is the authority on this matter. This publication is available from the GOA but I will post it latter on pensionwarroom.ca
From page 1:
"There is considerable misunderstanding about the details of the (pre-92) unfunded liability"
So it is no surprise that incorrect details abound in communications from MLAs and TBF. #AbLeg#handsoffmypension
Also from page 1:
"The overall objective of any solution to this issue must be maintaining what is arguably one of the best education systems in the world."
Now for the pension details from page 27:
"Teachers and the provincial government would jointly share the risks of the post-1992 plan on a 50/50 basis." #AbLeg#handsoffmypension
And the next line:
"Teachers and government would be responsible for managing all of their retirement funds in a prudent manner."
You know the word, say it with me: JOINTLY. Travis, what we got going here is definitely not joint. #AbLeg#handsoffmypension
And further down page 27 there is more about "risk sharing". So feel free to take that to your MLA and Travis. His claptrap about the GOA being on the hook for the risks is just uninformed political bluster. #AbLeg#handsoffmypension
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The Pension War Room™️ would like to note that writing the K-12 curriculum is a core government function. Unlike, say, building a pipeline in Montana.
Most of the focus has been on the social studies in the K-6 draft. That is because it is the worst of a bad lot. #AbLeg
Could it be that social is the worst because that is the area that @jkenney took a personal interest in? Specially selecting Champion to work on it? So many thoughts, so little time....
Why is it written like an undergraduate course?
And not developmentally appropriate for 5-11 year old children.
Experts are great, but having a PhD in a science (MD?) does not give you any insight into what is appropriate for 6 year olds versus 7 or 8 year old. #AbLeg
This is your daily pension announcement. The Pension War Room™️will be busy next Thursday night. Feel free to sign up for a pension issue consultation with Rachel. Might I point out Travis has not held any type of consultation on pensions. Ever. #AbLeg 👇 albertasfuture.ca/event-registra…
In fact, some UCP MLAs have now taken to apologizing for the "poor consultation" around the AIMCO decisions. You can't make this shit up.
NO CONSULTATION does not even rise to the very low bar of "poor". Poor consultation would be an improvement. #AbLeg#handsoffmypension
The UCP MLAs that we have heard from all seem to be asking the questions about the roles and motivations of the civil servants at TBF. They can't believe that these public servants could mislead them in any way. #AbLeg#handsoffmypension
This is your daily pension announcement: The Pension War Room™️ announces today as the happiest day Travis has had in the last two years. With this disastrous curriculum release teachers are occupied with topics other than unilateral pension decisions by the UCP! #AbLeg
But, don't worry Travis, I am still here to point out your errors in logic and finance. In the end, the root causes of both the curriculum disaster and the pension fiasco are the same: the UCP are politicizing things that should never be politicized. #AbLeg
One curriculum tidbit if I may: to quote the grade 6 social studies draft: Controlled by the Democratic party? Really? Can't resist that pejorative poke? Of course there were several Fugitive Slave Acts (1793, 1850, and individual states passed their own as well). #AbLeg
This is your daily pension announcement: The Pension War Room™️ brings you the risk shared edition! This is probably the most dangerous lie about public sector pensions in AB.... that the GOA is on the hook for any and all liability. #AbLeg
ATRF (and now LAPP, SFPP and PSPP) are all "risk shared" plans. In the case of ATRF if any liabilities exist they are paid off 50/50 by plan members and GOA over a max 15 year time.
This is a good idea for taxpayers, that plan members bear at least half the funding risk. #AbLeg
That is why I am so shocked when MLAs are claiming that the GOA is picking up the risk. If they keep saying that....then it must be true. Truthiness on display.
FYI, currently, the teachers' plan has a deficiency of about 3% of pay. It is being paid off 50/50 right now. #AbLeg
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
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.....
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