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28 Jun, 5 tweets, 3 min read
The Pension War Room™️ brings you the continuing saga of the lies of Travis! Straight from his email to a constituent... (honestly I could not make this shit up)....

The taxpayer writes in with concerns that UAPP can pull out of AIMCO and ATRF can't: #AbLeg #handsoffmypension
"By way of background, the UAPP transitioned to its current governance structure over 20 years ago when it moved from a public sector statutory plan to a registered pension plan under the Employment Pension Plans Act." #AbLeg True but...
"This governance change occurred before the establishment of AIMCo and prior to the more recent governance changes that affected some of the other public sector plans." #AbLeg #handsoffmypension

ATRF WAS ESTABLISHED IN 1938!!!! LONG BEFORE AIMCO EXISTED!!!!!
ARTS WAS THE ORIGINAL JOINT GOVERNANCE FUND IN AB.

The governance structure at ATRF predates both AIMCO and UAPP. Arghhhhh! Everything Travis has said is a reason to keep ATRF out of AIMCO the same as UAPP. #AbLeg #handsoffmypension
This reminds me so much of Horner in 2014. He said a bunch of things about public sector pensions that were not correct. That had a role in his downfall.

Think about that. #AbLeg

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More from @yomeeks

The Pension War Room Profile picture
30 Jun
Re-upping this fine piece from Dr. Bob in honor of Kevin's last day at AIMCO: the day the UCP declared war on teachers. (I differ in that I place the date earlier but that is a minor issue.)
A great review of the bullshit that got us to this point. #AbLeg
abpolecon.ca/2021/01/17/ucp…
Dr. Bob even includes a quote from @MarkDWiseman before it was stricken from the web. In defense of the ordered IMA his statement said in part:

(good governance and operational independence) "These factors define the success of the Canadian model of pension management."
#AbLeg
@MarkDWiseman should know that the current structure of AIMCO and the GOA DOES NOT AT ALL REPRESENT THE VAUNTED Canadian pension model.

That is false inclusion. The Canadian model does not ans has not ever included governments overruling the joint trustee of the plan. #AbLeg
Read 6 tweets
The Pension War Room Profile picture
27 Jun
The Pension War Room™️brings you the letters from Travis edition. Or at least email that he probably had a minion write to a concerned taxpayer.

This was referred to Travis because the local UCP MLA was unable/unwilling to engage on this topic.
#AbLeg #handsoffmypension
It was sent to me for further analysis. Like we have seen with all of Travis's correspondence: some parts are correct, some stretch the truth, and some are just plain wrong. A UCP sandwich of the good, the bad and the ugly.
#AbLeg #handsoffmypension
First, it was interesting to note that he did not acknowledge the mistakes he made in his previous email where he represented 2018 investment results as 2019 investment results. Really, it is a bit concerning for getting the right numbers on billion dollar decisions.... #AbLeg
Read 14 tweets
The Pension War Room Profile picture
25 Jun
This is your daily pension announcement! AIMCO performance under the microscope at the Heritage Fund meeting. I still don't have the report....apparently mere taxpayers don't deserve such things..... #ABLeg #handsoffmypension
First the good news: Amit, the new investment strategy exec was presenting. Because he was trotted out publicly (in place of both the CEO and CIO) it is unlikely he will be fired in the coming shakeup. #AbLeg #handsoffmypension
Then the bad: 5-year value add was -0.6%, the target was +1.0%. With a negative five-year value add no investment bonuses should be paid. #ABLeg #nobonusforyou
You could have done better with an index fund.
Read 10 tweets
The Pension War Room Profile picture
24 Jun
This is your daily pension announcement. The Pension War Room™️ notes that another Heritage Savings Trust Fund Annual Report is upon us! Tomorrow morning from 9-11 AM. You can watch it through the link below. #AbLeg #handsoffmypension
assembly.ab.ca/assembly-busin…
The Annual Report actually has to be approved by the committee before mere citizens such as myself are allowed to peruse it. Look for high investment costs from AIMCO. Substantially higher than the 0.76% that it cost the ATRF to invest. #AbLeg #handsoffmypension #aimcofail
I thought AIMCO was supposed to save on costs? And insource from private managers? It still seems to outsource $36 billion or 40% of its public equity.

I don't know who will show up from AIMCO. Kevin is probably busy packing up his office, so don't count on him. #AbLeg
Read 4 tweets
The Pension War Room Profile picture
17 Jun
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.
Read 4 tweets
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

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