This is your daily pension announcement: The Pension War Room™️notes the twisted irony in the court date that has been set for the AIMCO case: Sept 2&3. That is right, the first two days of school! #AbLeg
I look forward to it even if the outcome is uncertain. Through all of this, the GOA and Travis in particular have never really recognized the ATA as the joint sponsor (and joint risk taker). #AbLeg #handsoffmypension
If Travis wants all the risk for the plan he can have it. But that is a bad deal taxpayers. Very bad deal. Risk shared is way better for taxpayers. Travis does not know the damage he is doing when he opens his yap. #AbLeg #handsoffmypension
UAPP (if you have not heard already) dropped AIMCO as a manager. Probably has something to do with a 10 year value add of 0.30% when their investment goal was 0.50%. That is serious under-performance over a long time frame. #AbLeg #handsoffmypension
I don't like to rag on AIMCO but:

1. Travis hasn't really commented, and this is in his purview.
2. The IMA was clearly AIMCO friendly suggesting that the GOA consulted AIMCO and not ATRF.
3. Kevin still has not come clean about his role in selling this to Travis. #AbLeg
Have a great day! It seems @jkenney spent the day learning who his base is.

GOA shit tweeters have had a hell of a role whipping up that base. #AbLeg #handsoffmypension

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More from @yomeeks

7 May
This is your daily pension announcement: it has come to my attention that UCP MLA's are sticking to the "we gotta appoint AIMCO as investment manager to take care of the taxpayer's interest..." schtick.

Bull.
#AbLeg #handsoffmypension
The GOA makes only 49% of the contributions to ATRF. Why do they get to dictate the investment manager? This is unfair on the highest level. Decisions such as investment managers should be made jointly by the Board. #AbLeg #handsoffmypension
Why does Travis feel the need to take over the management of a fund that isn't his? Well, admitting is the first step....he initially denied that the GOA was taking over the fund. Now...not so much. #AbLeg #handsoffmypension
Read 10 tweets
2 May
This is your daily pension announcement: The Pension War Room™️brings you Dr. Bob Ascah's Magnum Opus on AIMCO. I have quoted his work extensively in the past. But, this leaves me speechless...#AbLeg #handsoffmypension

albertaviews.ca/the-120-questi…
First, Dr. Bob is an expert and independent. Two things that should mean something in @jkenney's Alberta but often don't. Second, he raises the same concerns that I have. #Ableg
1. AIMCO has a byzantine governance structure where all board members are appointed by Travis. In any objective reality the board members should be appointed by AIMCO clients who make up 80% of their assets. #AbLeg #handsoffmypension
Read 7 tweets
1 May
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
Read 7 tweets
25 Apr
This is your daily pension announcement, mailbag edition!😎Where I will answer pension question put to me by the loyal pension army!!!

First up, several questions all along the lines of: "If the NDP toss the UCP from power will Bill 22 be rescinded?"
#AbLeg #handsoffmypension
I can't say what exactly will happen but the NDP have shown they understand the issues involved and have tried (twice) to get most odious and unfair portions of Bill 22 and the AIMCO Act fixed.

#AbLeg #handsoffmypension
For me, if the public sector pension plans were obligated to use AIMCO "where value exists" then things would be fine.

I am confident that in a couple of asset classes AIMCO can provide cost-effective investment management. Not in all asset classes. #AbLeg #handsoffmypension
Read 7 tweets
24 Apr
This is NOT a pension announcement.

But rather, amongst the outrage fatigue, a reminder that the UCP took time and a half overtime pay away thousands of workers. People who work in the landscaping industry are just finding this out. #AbLeg
I am acquainted with landscapers who are returning to work now to find time in lieu of overtime pay specified in their terms. People who work in this industry generally work a mind boggling number of hours from May to October. Like every waking moment. #AbLeg
The time and a half paid in the past for OT would allow workers to live through the winter of low employment.

This is the net effect of the UCP changing the employment standards as directed by their corporate overlords. #AbLeg
Read 4 tweets
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

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