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26 Nov, 10 tweets, 4 min read
Heritage Fund meeting and Evan Siddall doesn't show up? WTF?
Great question about replacing AIMCO as investment manager for the Heritage Fund. Short answer is "yes we can".
Too bad we can't replace them as our pension fund manager. #AbLeg #handsoffmypension
Amit directs people to the compensation section of the Annual Report. Too bad it is filled with bullshit🐂🐂🐂🐂 Worst year ever? Performance bonuses for everyone! #AbLeg #handsoffmypension
I don't know why they are trotting Dale out. I think they are putting him out to pasture soon...
Dale now arguing that a 10 year value add of 0.53% is good. Still short of the 1.00% value add target by HALF.

#AbLeg #handsoffmypension
@ChristinaNDP asks about TBF being able to give "directives " to AIMCO. No answer given as proposed leg is private. #AbLeg
Again, references to slides that have not been shared with the public. Amateur hour.
Question of the night goes to @davideggenAB: What is TBF doing repair trust?

Really gets no answer. TBF isn't doing anything to repair trust after using AIMCO as a tool to stab teachers in the back. #AbLeg #handsoffmypension
People at AIMCO are super embarrassed at their role as a tool of Travis' crazy stuff. This is a valid question because it has materially affected AIMCO's reputation. #AbLeg #handsoffmypension

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More from @yomeeks

The AB Teacher Pension War Room Profile picture
27 Nov
This is your daily pension announcement: The Pension War Room™️reports mass chaos and confusion after the public Heritage Fund meeting this week. The usual gaslighting, though from more from TBF less from AIMCO. #AbLeg #handsoffmypension
Some observations:
First, this was a remote public meeting. Yet, they could not find a way to broadcast the slide deck. It was an integral part of the presentation. They managed to put it on the website after the meeting...... #butthatsucks #AbLeg #handsoffmypension
Second, @ewsiddall did not show up. I am honestly concerned that something may have happened to him that is bad. A meeting of this nature is sensitive given the gaping wounds @aimcoinvests has suffered over the past year. #AbLeg #handsoffmypension
Read 9 tweets
The AB Teacher Pension War Room Profile picture
19 Nov
This is your daily pension announcement. The Pension War Room™️ commemorates the day exactly two years ago that Bill 22 was introduced. @jkenney was hiding in Texas, the Bill was rammed through in an undemocratic record 4 days. Should have been a month... #AbLeg #handsoff
Bill 22 abolished the election commissioner and removed the right of pension plan fiduciaries to choose their own investment manager.

No coincidence I am sure, AIMCO released Q3 results today as well:
assets.ctfassets.net/lyt4cjmefjno/5…
Pretty good Q3: 1.7% return versus a benchmark of 0.8%. Of note, they mention their 4-year rolling return but not their 4 -year rolling benchmark, against which reliable judgments can be made.

BTW, the goal is 1% over benchmark, not benchmark. #handsoffmypension #AbLeg
Read 6 tweets
The AB Teacher Pension War Room Profile picture
18 Nov
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.
Read 4 tweets
The AB Teacher Pension War Room Profile picture
13 Nov
This is your daily pension announcement: the are teachers "employees" of the GOA edition? It is an important distinction. LaGrange, for example, asked school boards to institute vaccine mandates for their employees(teachers). #AbLeg #handsoffmypension
Whereas Travis has been quoted so many times saying: "(the GOA) as the employer of teachers and the owner of AIMCO" can strip away the choice of investment manager from the fiduciary, which is the ATRF Board.

Really something to think about. Ministers can't seem to agree. #AbLeg
Travis, as I have said so many times, is wrong anyway.

In a @jkenney level gaslight, he fails to mention this plan is JOINTLY sponsored and the GOA contributes <50%. Might want to check with the other sponsor before you pronounce.... #AbLeg
Read 5 tweets
The AB Teacher Pension War Room Profile picture
10 Nov
This is your daily pension announcement. I spent yesterday afternoon in the wonderful @aupe pension conference.
I was pleased to do a session for attendees as well as listen to Dr. Bob Ascah. Here is an article he wrote last April...🔥🔥🔥🔥🔥 #ABLeg
albertaviews.ca/the-120-questi…
Dr. Bob Ascah is uniquely qualified to comment on both AIMCO and TBF within the larger Government context. He has a new paper coming (soon). I don't want to let the cat out of the bag, but the title might be "can AIMCO be fixed?" A valid question. #AbLeg #handsoffmypension
I have a better understanding now of the Charter challenges that are possible when Travis strips the ability to choose an investment manager away from a pension fiduciary and trustee. I will continue to review the last two centuries of trust law. #AbLeg
Read 6 tweets
The AB Teacher Pension War Room Profile picture
7 Nov
This is your daily pension announcement: Remember this video!!!!!
I have had the same experience with the Travis directed @jkenney led pension file. We can't even agree on basic facts never mind policy matters.#AbLeg #handsoffmypension
Take this reply to a constituent from Whitney Issik (don't blame her, many MLAs used the same script).

"In the case of teachers’ pension, government’s review found that having AIMCo provide investment management services for the ATRF would decrease the fund’s ...costs." #AbLeg
Strap on your critical thinking hat for a moment. The government (TBF) didn't review shit. AIMCO wrote the review that the TBF accepted. Need I remind you that AIMCO claims to be "arms-length". Instead we get an AIMCO in the worst conflict of interest. #AbLeg #handsoffmypension
Read 8 tweets

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