This is your daily pension announcement: asking the never ending question if the ATRF is the trustee of $20 billion of retirement savings why is the GOA telling AIMCO that it can do what it likes investing those assets? #AbLeg #handsoffmypension
Apparently AIMCO had two secret meetings with Treasury Board and Finance just before Travis imposed the IMA on the ATRF. If you are wondering what was discussed please stay tuned for the court case scheduled for next Thursday and Friday. #AbLeg #juicy
When AIMCO does cheap shit like this it really lays waste to the "arms length from government" claims. I am arguing that Travis owes the ATRF a basic level duty of fairness (among other things). #AbLeg #handsoffmypension
As regular readers know, this whole "AIMCO is arms-length" thing is a bullshit act of the highest order. They are solely owned by the GOA investing money that belongs to workers who, as events have shown, have zero input. #AbLeg #handsoffmypension

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More from @yomeeks

12 Sep
This is a curriculum announcement! A reminder that our current (strong) curriculum was developed over about 35 years of PC rule. The draft that was thrown away was developed under the PC and NDP. Calling it the "NDP curriculum" is simply not accurate. #AbLeg #ditchthedraft
In fact, our current curriculum is followed by many schools in other countries. That is yet another reminder of the strength of our education system. Put that together with the MacKinnon Report that shows K-12 education costs in AB are low and we have the deal of deals. #AbLeg
Only BC is lower cost (mainly because BC doesn't support private schools or the same level of busing). We had (historically) strong curriculum development process here. The process we had has been totally abandoned now. And, instead the draft is run up to cabinet every other week
Read 4 tweets
8 Sep
The Pension War Room™️ declares total victory over AIMCO! I was advised earlier that ATRF and AIMCO have just inked a 50-page investment management agreement. As this new IMA contains everything we were asking for, the lawsuit was discontinued this morning.
The statement from the ATRF is here:…
The statement from the ATA is here:…

#AbLeg #handsoffmypension
This new IMA does the two things that Kevin (and Travis through Kevin) would never do.

1. The IMA recognizes the fiduciary duty of the
ATRF unconditionally.
2. And, it adds proper role clarity for both parties.
AIMCO does not get a veto.
Read 10 tweets
6 Sep
This is your daily pension update: LAPP, SFPP, and PSPP are watching the ATA pension court case with bated breath. It is possible, depending on the decision, that we could see mucho legal action on behalf of these plans. #AbLeg #goteam
I would caution you that their situation is a bit different because those plans already use AIMCO as an investment manager. #AbLeg #handsoffmypension
I will remind everyone (again) that the Teachers' Pension Plan Act gives the responsibility for investing the assets of the plan to the ATRF Board not AIMCO and certainly not Travis. What kind of advice is he getting? #AbLeg #handsoffmypeension
Read 5 tweets
4 Sep
This is your daily pension announcement: yesterday was the second and final day in court for The Pension War Room™️ and the ATA. It started with the judge telling the GOA that their interpretation of (the contested) section 3.8 of the IMA was "way off base". #AbLeg
It was clear from the questions that the judge was asking that she understood where the GOA was moving into the ridiculous.

A big shout out to Katrina Haymond and @FieldLaw for representing us so well. #AbLeg #handsoffmypension
Our torch of righteousness was borne well into the courtroom.

There are many issues for the judge to decide here in the application of administrative law. So it may take awhile for a decision to be rendered. #AbLeg
Read 6 tweets
27 Aug
This is your daily pension announcement. The Pension War Room™️ attended the retirement ceremony of ATRF Chief Investment Officer Derek Brodersen today with mixed feelings. A great CIO who was an excellent steward of teachers' assets. #AbLeg…
September 2 is our day in court to challenge the imposed IMA. Please tune in for my commentary.

Things are weird at the Alberta Legislature right now. Deputy Minister are running around scare to do anything. An overriding atmosphere of fear and loathing. #AbLeg
This is your reminder that the ATRF Board is the only entity that is the fiduciary and trustee for the teachers' pension plan. And, despite what @jkenney has said, the plan is not backstopped by the GOA. #AbLeg #handsoffmypension
Read 4 tweets
18 Aug
This is your daily pension announcement! The Pension War Room™️is back on the grid.
Take a look at this page from the GOA on public sector joint governance in good old 'berta. See if you can spot the errors.... #AbLeg #handsoffmypension…
I do understand that updating the webpages might take time due to COVID but it has been nearly two years.

After all, this is where MLA (and employees and the public) get information from. So buckle in and apply your critical reading skills. #AbLeg #handsoffmypension
"Under joint governance, employee and employer groups share control of plan design and responsibility for the financial health of the plan." (correct)

So next time a UCP MLA says that the GOA alone is responsible for the financial health of the plan....refer them here. #AbLeg
Read 7 tweets

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