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18 Apr, 6 tweets, 4 min read
This is your daily pension announcement: The Pension War Room™️ is giving Evan Siddall a chance. Here is the clip where Ron Liepert MP called him "Arrogant". To be clear, I consider this an achievement. As well as the pot calling the kettle black. #AbLeg

Loyal tweeps, you can depend on me to sift through the fetid filth that is pension policy in AB. The hiring of Evan is unique, not necessarily in a bad way. His PR was all about having deep experience in "financial services" and not "investment management" or "pension". #ABleg
In fact, I am kind of surprised at that. What he seems to bring to the table is the ability to reposition and redefine a crown corp. Which btw is what AIMCO needs. It is also an exceedingly difficult job in 'berta. #AbLeg #handsoffmypension
@MarkDWiseman is repeatedly in the news saying that AIMCO will look for opportunity in the new energy economy, which is putting the more regressive elements in the AB government on notice. #AbLeg #handsoffmypension
Kevin was selling the AIMCO takeover as a synergy. "Look at how strong we will be together."

He was banking on all the ATRF (highly specialized) investment employees moving to AIMCO. That was a bad bet. #AbLeg #handsoffmypension
As well, we should have another AIMCO Board member appointed soon. With absolutely no input from any of the joint pension plans that make up 80% of AIMCO's business. #AbLeg #handsoffmypension

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More from @yomeeks

The Pension War Room Profile picture
19 Apr
The Pension War Room™️suggests you read only the last paragraph of this article. It is just a retread of Evan getting the CEO job to become the highest paid public servant in AB. That last paragraph is a doosie. #AbLeg #handsoffmypension
financialpost.com/fp-finance/aim…
To wit:
"In addition, the Alberta Teachers Retirement Fund board has been working to transfer the management of its assets to AIMCo, despite the objections of some teachers unions." #AbLeg #handsoffmypension
I guess it includes the lack of accuracy is to be expected. One teacher union, the ATA, which is also a joint sponsor of the plan. Which represents all of the public school teachers and then some. #AbLeg #handsoffmypension
Read 5 tweets
The Pension War Room Profile picture
15 Apr
This is your daily pension announcement: The Pension War Room™️ notes that a new AIMCO CEO has been appointed! And, with the oldest PR technique, this news is announced at the same time as the bad news. Distract from the bad news! #AbLeg #handsoffmypension
In fact, I wonder how Evan Siddall feels about having these two announcements sandwiched together. I have never met Evan. I know him by reputation. Several mutual acquaintances have phoned me this AM to vouch for him as a stand-up guy. #AbLeg

en.wikipedia.org/wiki/Evan_Sidd…
A couple of thoughts:

1. As expected, someone who is tight with Mark Wiseman.

2. Evan is apparently super tight with Mark Carney. I thought that would disqualify him from the job. #AbLeg #handsoffmypension
Read 9 tweets
The Pension War Room Profile picture
10 Apr
Funny you should ask who was consulted:
1. AIMCO was consulted despite being in the mother of all conflicts of interest.
2. When it was clear that (1) was wrong they sent it to Peter Milburn in BC. He allegedly approved AIMCO's work, but has signed nothing. #AbLeg
What should have happened is Travis should have hired a consultant (AON) to look at relative strengths of the investment operations or turned to the Auditor General for help #AbLeg #handsoffmypension
Peter Milburn was picked as the rubber stamper because Athana, the TBF Deputy Minister, worked with him in BC. #AbLeg #handsoffmypension

This is important because the AIMCO "business case" is nothing more than a marketing flyer. #AbLeg #handsoffmypension
Read 12 tweets
The Pension War Room Profile picture
8 Apr
This is your daily pension announcement: The Pension War Room™️ needs to show you just how shoddy the AIMCO "business case" was. Travis and the MLAs stick hard to two claims:
1. AIMCO has a better return pre-VOLTS
2. This will save teachers and GOA $41 mil per year
Both are not true. Here is a screenshot of the return chart from the business case that some bearded mook at AIMCO wrote. It looks like AIMCO is outperforming over the 10-year time frame. #AbLeg #handsoffmypension
The mook from AIMCO (and Peter Milburn after him) fail to recognize that the 2008 return still INCLUDED CO-MINGLING OF FUNDS BETWEEN THE PRE-1992 FUND AND THE POST-1992 FUND.

#AbLeg #handsoffmypension
Read 12 tweets
The Pension War Room Profile picture
5 Apr
Well Alberta's draft curriculum made the national stage! what an ignominious achievement.

Quote of the week: "Politics will be part of any new curriculum. But Mr. Kenney’s UCP is, as often, in danger of letting politics take over." #AbLeg

theglobeandmail.com/opinion/articl…
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

#AbLeg #handsoffmypension
Read 8 tweets
The Pension War Room Profile picture
4 Apr
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 did this curriculum go to cabinet?

For approval?
That is very unusual. #AbLeg
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
Read 9 tweets

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