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The AB Teacher Pension War Room Profile picture
@yomeeks
Nov 18, 2021 • 4 tweets • 3 min read • Read on X
This is your daily pension announcement! The Pension War Room™️ announces the next Heritage Fund meeting!!! I would expect @ewsiddall to be in fine form.
Put November 25, 7-9 pm on your calendar. On the link below you can submit a question. #AbLeg

assembly.ab.ca/assembly-busin…
Questions will be answered by AIMCO and/the GOA. They can't be directly about the pension plans, but do feel free to ask things like:
"The Heritage Fund is coming off its worst year ever why did AIMCO still pay millions in performance bonuses?"
#AbLeg #handsoffmypension
"Are we still paying Kevin Uebelein a bonus based upon the fund's results this year even though he no longer works there?" #AbLeg #handsoffmypension

I know I will be tuned in for information and edification.
Maybe ask them how exactly they would go about comparing two investment managers...you know if they had to make a choice.

@ChristinaNDP was promised a further written report on the nature and extent of the VOLTS losses. Looking forward to that. #AbLeg #handsoffmypension

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More from @yomeeks

The AB Teacher Pension War Room Profile picture
Dec 31, 2024
The Pension War Room™️ marks the end of 2024 as "the death of pension irony". Where we had Minster of Finance Travis declare that @aimcoinvests was the best that there was. His successor (same govt) Minister Nate declares @aimcoinvests to be the worst there has ever been. #Abgov Image
So it follows by no logic whatsoever that the Board, CEO and a bevy of other executives must be fired and paid beaucoup $$$ for severance. This $$$ including dollars from teachers, nurses, and police officers who **do not** have any say in the goings on @aimcoinvests . #Abgov
"Trust Me" says Nate, oblivious to the fact that Travis tried this communication approach. Nate may find out as Evan did that it is difficult to operate an investment manager when your clients hate you. I'm sure his search for new board members isn't going well. #AbLeg
Read 4 tweets
The AB Teacher Pension War Room Profile picture
Nov 20, 2024
The Pension War Room™️ again brings you this conundrum. Reasons for @NateHornerAB removing the AIMCO Board keep changing! Barb here, definitely has insider access. Read it

Alberta's preference for Stephen Harper was well known within AIMCo, sources say financialpost.com/fp-finance/alb…
To recap: the original reason for destroying @aimcoinvests was cost plus investment performance. We know know that wasn't true in any logical world.

Barb here floats reason #2: that CEO @ewsiddall was a "liberal" or a "Laurentian Elite". #AbLeg
The Stapler (keep in mind he is an idiot) floats reason #3 in the paper today: That the Board and CEO had the audacity to drag the organization into this century with ESG and DEI policies. The former as part of its legal fiduciary duty...
Read 6 tweets
The AB Teacher Pension War Room Profile picture
Nov 19, 2024
The Pension War Room™️needs you to read this piece from the G &M. No, I can't link to it.

You may remember Mr. Willis from the original AIMCO conundrum. He is correct in this case, the pension plans bear the consequences of AIMCOs bad decisions. #AbLeg Image
To quote Mr. Willis:
"The day after Mr. Horner marched AIMCo executives out the door, LAPP put out a press release to say that “your pension remains safe and secure.” LAPP executives declined further comment... #AbLeg
...At best, the pension plan’s “safe and secure” line is wishful thinking, as no one knows where AIMCo’s investment performance is headed." #AbLeg

We are still awaiting the other shoe to drop. #AbLeg
Read 4 tweets
The AB Teacher Pension War Room Profile picture
Nov 17, 2024
The Pension War Room™️ reviews this AIMCO quote from Bloomberg: "Employees have already told acquaintances they want new jobs, anticipating the province will begin treating the pension manager like a state agency and slash their pay." #Ableg
Yeah, so this is the hidden cost of @NateHornerAB's actions. A ton of employees with very specific skill sets have already sent their resumes out. This are employees who were very difficult to recruit to start with. #AbLeg
Most of the highly specialized skill sets @aimcoinvests don't grow in AB. They are only produced in major financial centers like Toronto, adding another level of complexity.
Read 4 tweets
The AB Teacher Pension War Room Profile picture
Nov 3, 2024
This is your daily pension announcement! The Pension War Room™️ would note Jim-Bob Dinning is still a stan for the APP. He was at the Calgary Golf and Country Club while the rest of the UCP were lathering up in Red Deer. #AbLeg
It appears that his message has not changed. Lifeworks/Telus report=The Word of God. Yeah, even the bits he reproduced for handouts at the events had all sorts of warnings from the actuary about "best estimates". #AbLeg
The crowd, though tough to tell from appearances, looked like they **WILL NOT** be depending on CPP/APP for their retirement income. Unlike millions of Canadians who WILL be depending on it. #AbLeg
Read 8 tweets
The AB Teacher Pension War Room Profile picture
Oct 12, 2024
This is your daily pension announcement! Smith recruiting private schools to stack the leadership vote shows a level of desperation. She didn't invent this strategy (@jkenney did), but she needs it. #AbLeg
It seems two groups are organizing against her: one group thinks she had the power to stop the prosecution of domestic terrorists. The other is angry she reneged on a promise to cut taxes.
A certain substantial, but as yet unquantified, portion of her party is just angry all the time about everything. The same people that gave Ralph the boot after all he did for 'berta.
Read 4 tweets

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