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9 May, 5 tweets, 3 min read
Happy Mother's Day from the Pension War Room™️!!!!

Here is a round of gaslighting from Minister @JasonCoppingAB. The GOA holds 50% of liability for the pension plan. Risk adjusted return of ATRF is superior to AIMCO. And, the AIMCO governance model is byzantine. #AbLeg
Seriously, I sent @JasonCoppingAB an email months ago offering to take him through the legislation that make all the plans joint risk-shared plans. But I never heard back.
For a topic like this he (and all the UCP MLAs) would be given talking points by Travis and Athana. This makes sense as MLAs can't be experts on everything.

This is so rich because here is a Minister of the Crown being gaslit by another Minster. Welcome to the club! #AbLeg
I wonder how @jasoncopping feels about this? That Travis sent easily verifiable falsitudes to make him look like an idiot.

Mind you, he also insists that ATRF will remain in control of its investment policy. Unless AIMCO objects. It is a commercially unreasonable agreement.
Might I add that the risk sharing is reflected in the ATRF Board structure, the crown corp that is charged with care of the assets. Half the Board is appointed by the GOA and the other half by the ATA. #AbLeg #handsofffmypension

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More from @yomeeks

The Pension War Room Profile picture
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
The Pension War Room Profile picture
5 May
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
Read 6 tweets
The Pension War Room Profile picture
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
The Pension War Room Profile picture
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
The Pension War Room Profile picture
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
The Pension War Room Profile picture
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

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