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17 Oct, 3 tweets, 2 min read
This is your daily pension announcement: The Pension War Room™️again reminds you that the GOA does NOT assume all the risk of public sector pension plans. In teachers' case risk is split as contributions are: 49% GOA, 51% teachers. #ABLeg #handsoffmypension
To clear this up: Nov 4, 2019 Travis, talking about ATRF, made this statement in the Leg: "This change will improve the returns for pension holders in this province."
Well, that sure isn't true.
He made that statement without asking for a study of any sort. #ABLeg #hopesprings
Top quartile investment managers are difficult to create and operate. Otherwise everyone would do it.

Please remember that Travis can still issue "directives" to AIMCO. Arms length? Not so much. #ABLeg #handsoffmypenion

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More from @yomeeks

The AB Teacher Pension War Room Profile picture
16 Oct
This is your daily pension announcement: the mailbag edition! Or, at least, the inner workings of pension policy edition.
1. First question, was something like why did @ewsiddall start his chat yesterday by going on about living in Edmonton? #ABLeg
aimco.ca/insights/first…
Well, that is a bit of a sore point with the GOA. They have, in the past, been embarrassed to find out that they have hired high profile execs that have "commuted" (Ahem, no names) from Toronto or other cities.

So it was important yesterday to put "Alberta" in AIMCO. #AbLeg
2. Second question was something like "what is the worst thing that Travis has said?"(I am assuming about pensions)
Well there is a bountiful garden of stupidity to choose from. #AbLeg #handsoffmypension
Read 8 tweets
The AB Teacher Pension War Room Profile picture
15 Oct
This is your daily pension announcement: here is the video of Evan's first Heritage Fund appearance. Great first half of the year but don't forget: 5 year return 8.2% 0% over the benchmark. (Target would be 1.0% over.)

assemblyonline.assembly.ab.ca/Harmony/en/Pow…
CIO Dale is retiring. So the executive team will only have 2 members (I think) that have been at AIMCO for more than a year. I remember the first time I met the AIMCO executive team. A bunch of them were fired the week after. (Leo was CEO at the time.) #ABLeg #handsoffmypension
Accountability and transparency are great themes for @ewsiddall. Those are things that have been lacking. Kevin had some backroom deals going on with the UCP. You can't have that with an "arms-length" manager. #AbLeg #handsoffmypension
Read 5 tweets
The AB Teacher Pension War Room Profile picture
14 Oct
This is your daily pension announcement: The Pension War Room™️notes that Evan is the new Kevin! Take a look below at the deep cut interview below. "I'm going to lead differently" is a good start because the last guy really sucked! #handsoffmypension

financialpost.com/news/fp-street…
I will not needlessly disparage Evan. Ever. But, given my experience on the ATRF Board, if I see injustice I will speak out. I will restrict my comments today to a couple of things. #AbLeg #handsoffmypension
To quote: "Siddall — who pledged to keep a lower profile in his new assignment".

This is a really good idea. Nothing galvanized the anti-AIMCO forces better than Kevin's self serving Op-Ed in the Journal complete with a come-hither photo. #AbLeg #handsoffmypension
Read 7 tweets
The AB Teacher Pension War Room Profile picture
13 Oct
This is not true. Please read the MacKinnon report. We have a bargain basement system second lowest cost in the country. (BC=lowest) AB would be the lowest if we did not pay private schools and provided less transport. #AbLeg
My analysis: to use the "one of the best-funded" would mean in the top 3 out of provinces. MacKinnon showed us we were nearly the bottom and falling further as enrollment⬆️and inflation erodes. #ABLeg
And that was yer own UCP report. #ABLeg
Read 4 tweets
The AB Teacher Pension War Room Profile picture
10 Oct
This is your daily pension announcement: throwback to the World Bank Group's case study on the much vaunted (and rightly so) Canadian Pension Model. You can access the paper from the article below, but be warned it may be TL:dr and too much Kevin. #AbLeg
optrust.com/AboutOPTrust/N…
This paper is from 2017, before any of the crazy UCP/AIMCO stuff. But it gives you insight into the things that Travis did to weaken pensions in AB. Strap in, this is going to be a long ride. #AbLeg #handsoffmypension
1. "Because of their success, the World Bank Group partnered with four Canadian pension funds, Alberta Investment Management Corporation (AIMCo)".

Er, yeah. AIMCO is not a pension fund. They are an investment manager, a service provider to pension funds if you will. #AbLeg
Read 13 tweets
The AB Teacher Pension War Room Profile picture
8 Oct
This is your daily pension announcement: The Pension War Room™️ notes that Travis writes another op-ed for the Journal. It is filled with the typical lies and misrepresentations of the equalization referendum. Don't read it. It is a waste of time. #AbLeg
Do take a look at the end note:
"This byline information was changed at the author’s request to reflect his capacity as MLA instead of as finance minister and president of Treasury Board."

Why would Travis need to write this as an anonymous MLA instead of as a Finance Minister?
Well, funny you should ask. I suspect it is because the loyal and hardworking servants at Treasury Board and Finance are embarrassed by Travis and his facile arguments. They have provided Travis with no research on equalization. #AbLeg #handsoffmypension
Read 7 tweets

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