Thread by @yomeeks

This is your daily pension announcement: the odds and ends edition!

The Pension War Room™️would like to note the following somewhat unrelated thoughts.

Some UCP MLAs are surprised at how informed teachers are about their pension. #AbLeg #handsoffmypension

MLA comments have found their way back to me. Keep 'em coming. It still shocks me that that things that are straight up wrong were in the MLA communication lines. (BS like "your pension is guaranteed by the GOA".)

Pensions are guaranteed by the assets in the plan. Full stop.

And, it is important to remember that 75% of pension payouts comes from investment earnings the other 25% from contributions. That is why this AIMCO mess is such a big deal. #AbLeg

And out of the contributions the GOA makes less than half (49%). Which makes it so perplexing as to why Travis and Athana think that unilateral action is the way to go. At no point have they publicly recognized that it isn't their money. #AbLeg #handsoffmypension

No shock that they also feel they can impose an AIMCO friendly IMA on ATRF. Not commercially reasonable at all.

BTW, the court case is winding its way forward. I will wait a bit more before I tweet all the embarrassing details. #AbLeg #handsoffmypension

Travis and Athana have always acted like they are the sole trustees of this plan. They aren't . That job belongs to the ATRF Board. If they wanted to reduce investment costs they would recruit highly skilled board members and appoint them. #AbLeg

As a final thought: take this to your MLA:
From the Teachers' Pension Plan Act 18(2)

"The assets of (a) the post-1992 fund belong beneficially to the persons entitled to the post-1992 benefits, ...and the Crown has no claim to those assets."

GOA HAS NO CLAIM! #AbLeg