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17 Jun, 4 tweets, 2 min read
This is your daily pension announcement. I can guarantee you there are people at AIMCO that wish they never tried to take over ATRF!!!! Regrets, there are many of them. The line of thought is something like... "man we overreached" and "we should have just been happy with LAPP".
Along with UCP MLAs who are collectively shocked at the tenacity and pension knowledge of teachers. They thought little white lies like "the GOA guarantees your pension" would go unnoticed. #AbLeg #handsoffmypension
From way back in the Leo De Bever days until the present time AIMCO has always been able to successfully evade public examination of its investment results. Until now. #AbLeg #handsoffmypension

It is time that WE held them to account.
I have said this before, AIMCO always seemed to pay performance bonuses regardless of performance. #AbLeg #handsoffmypension

If you hear from your MLA on this topic please let me know.

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More from @yomeeks

The Pension War Room Profile picture
12 Jun
This is your daily pension announcement. The Pension War Room™️ again points out that Travis is a weak and ineffective Minister. I hope he enjoys throwing back drinks at the Sky Palace for now. #AbLeg #handsoffmypension
You can bet that this is how the plan to screw over public sector pensions was born. That and the plan to remove overtime pay incentives from wide swaths of the working public. #AbLeg #handsoffmypension
My concern this week is that there are MLAs still running around saying the GOA guarantees teacher' pensions and is solely responsible for liabilities. #tanyyao A number of these MLAs even claim to have attended briefings with TBF where they "learned" these facts.... #AbLeg
Read 6 tweets
The Pension War Room Profile picture
30 May
This is your daily pension announcement. The Pension War Room™️ takes no pleasure in finding outright misinformation from Treasury Board and Finance. Below is a chart from Travis in a reply to a constituent concerned about the ATRF/ AIMCO situation. #AbLeg #handsoffmypension
Ah Travis you keep on giving.....
Can you spot the error/misinformation? Here is another view:
"ATRF (year ending August 31, 2019)
AIMCo Balanced Fund (year ending December 31, 2019)"

Travis claimed these were 2019 value add returns when in fact they were 2018 returns. #AbLeg
Is it any coincidence that you need to go back to 2018 to find a reasonable return for AIMCO? Was this an accident? #AbLeg #handsoffmypension

This is indicative of this whole issue. No rational discussion with TBF, ever.
Read 7 tweets
The Pension War Room Profile picture
28 May
This is your daily pension announcement: Jim Keohane was appointed to the AIMCO Board! As much as I enjoy pointing out the grift at AIMCO, this is actually a great move. He is the former CEO at the Hospitals of Ontario Pension Plan (HOOPP). #AbLeg #handsoffmypension #aimcofail
I met him once or twice at events in Toronto. He understands derivatives at an expert level and investment risk even more so. So he would be the person with the skills to steer AIMCO away from a repeat of the VOLTS fiasco. #AbLeg #handsoffmypension #volitilitybomb #aimcofail
Even better he has public sector pension plan experience, something that was seriously lacking on the board. And a serious problem as 80% of their business is pensions. So hopefully he will be able to convince Travis to reform the antique governance structure at AIMCO. #AbLeg
Read 6 tweets
The Pension War Room Profile picture
17 May
The Pension War Room™️ reminds you that TBF has completed the analysis about withdrawing from CPP and forming an APP. It will be interesting for sure. No doubt @jkenney is waiting to release this report until he gets control of his caucus. #AbLeg #handsoffmypension
May I reiterate the only reason for withdrawing from CPP would be to say FU to the feds. There will be no enduring cost savings. (The younger AB population will give lower rates, but that will be compensated for by higher rates for the smaller group size.) #AbLeg #handsoffmycpp
Never mind the political risk of @jkenney directing investment operations (even subtly) while appointing AIMCO directors. I can't even think about it. #AbLeg #handsoffmypension
Read 8 tweets
The Pension War Room Profile picture
16 May
This is your daily pension announcement: The Pension War Room™️is busy sorting through a pile of email between Kevin, Athana, Travis and the pension plans. Part of them came through FOIP requests the rest through (the court) discovery. #AbLeg #handsoffmypension
With the court case still upcoming I won't go through what is all there. But, I will tell you what ISN'T THERE.

There is no recognition of the ATA as the joint sponsor of the plan. Ever. Not surprising but very disconcerting. #AbLeg #handsoffmypension
Especially since this special legal status has existed since 1938. All of this mess could have been avoided if the GOA had consulted the ATA prior to Bill 22. But, oh no, consultation with people who are footing 51% of the bill isn't the UCP way.... #AbLeg
Read 5 tweets
The Pension War Room Profile picture
13 May
This is your daily pension announcement: @MattJonesYYC wanted AIMCO Heritage Fund 5-year numbers, well here you go. Attached is the quote from the last quarterly that shows the 5-year investment objective to be 7.1%. #AbLeg #handsoffmypension
What was the 5-year AIMCO Heritage return? 6.3%, A FULL 0.8% BELOW THE GOAL.

That is annualized each year for 5 years. Think about that. Kevin often tries to confuse things by suggesting the passive benchmark is the target. It isn't. #AbLeg
I am so concerned about this unilateral GOA action is that pension policy errors don't show up for years and then are dealt with years after that.

It is so interesting to me that MLAs swear that pensions are guaranteed when that guarantee was removed in 1992. #AbLeg

#AbLeg
Read 5 tweets

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