Thread by @yomeeks

This is your daily pension announcement! The Pension War Room™️ is back on the grid! Just in time the PSPP Annual Report. Worthwhile reading....get your copy here: #AbLeg #handsoffmypension
pspp.ca/page/funding-i…

Some naughty bits in the typically sanitized annual report language. Pg. 26

"The 2020 investment performance by PSPP Corporations legislated exclusive investment manager...(AIMCO), was extremely disappointing." #AbLeg #handsoffmypension

Wow. The message seems to be if it wasn't legislated then AIMCO would be toast. Thanks, Kevin.

PSPP members have to be pissed that they just paid $3 million (collectively) to Kevin for him not to work. Happy retirement! #AbLeg #handsoffmypension

But don't worry, the annual report opines:

"Despite the poor performance of AIMCO in 2020, the Plan continues to hold sufficient assets to cover its financial obligations."

Performance that was so bad the investment return had to be pulled out of the bonus calculation by AIMCO

..and replaced with an arbitrary "floor" value.
Otherwise the executive bonuses would have been near zero. #AbLeg #handsoffmypension

BTW the average gross yearly pension for PSPP is $18,025, hardly gold plated.

Travis and @jkenney have doubled down. They believe they can "get right" with their fringe by abusing hard working public sector employees to "the dinger" among others.

@AbLeg #handsoffmypension

A couple of thoughts:
1. The data he is using from the MacKinnon Report is seriously old now.
2. No logical reason exists that public workers should have their wages reduces to pay off KXL and Sturgeon.

Bad financial decisions are hallmarks of Travis. He owns them. #AbLeg

3. The MacKinnon Report doesn't say reduce nurse wages. It does say close a number of rural hospitals.

4. Every year (and their have been many) workers take 0% it is effectively a cut of 2%. @jkenney demonstrates willful ignorance of this economic reality. #AbLeg #handsoff

5. In AB the % of all wages spent on the public sector is less than almost every other prov.
6. @jkenney apparently doesn't want raise taxes on working people to pay for our current standard of health care. Great. How about corporations? #AbLeg #handsoffmypension

Needless to say, I will keep a close eye on things over the summer.
Bargaining in the newspaper is always a bad idea. But @jkenney and Travis seem to be intent on being viewed as "in charge". #AbLeg #handsoffmypension