Thread by @yomeeks

This is your daily pension announcement: The Pension War Room™️observes that two existential risks are still present for ATRF and the other public sector pension plans. These both reside with the GOA. Summary below. #AbLeg #handsoffmypension

First, the AIMCO Board is entirely appointed (and removed) by Travis. This does not meet the bar required for AIMCO to be "independent" as Travis is so fond of saying. It also does not meet the best practice of the much vaunted Canadian Pension Model. #AbLeg #handsoffmypension

I suspect that @MarkDWiseman knows this and knows what needs to be done to fix it. 80% of AIMCO's business is investing for pension plans and NONE of those plans have any Board level influence. The whole structure of the AIMCO Board needs to change. #ABLeg

Jointly sponsored pension plans need a jointly sponsored AIMCO Board. This is not nuclear physics. The GOA has been aware of the shortcomings here for some time. Imagine if Travis removed a qualified person from this board and appointed W Brett instead? #AbLeg #happened

Second, RABBCCA is a threat. That is the legislation that limits the compensation paid to executives at agencies, commissions and boards. ATRF is NOW (thanks to Travis) subject to this legislation. #AbLeg #handsoffmypension

Which will make it difficult to attract and retain investment professionals to ATRF whose sole job would be to oversee AIMCO. Yes, checking up on AIMCO on behalf of teachers is a full time job. #AbLeg

The GOA can solve both these problems. You may need to encourage Travis though. He seems to be preoccupied with the immolation of the UCP. #AbLeg #handsoffmypension