This is your daily pension announcement: The one more thing edition...
I did want to review the question from @davideggenAB at the Heritage Fund Meeting. It was along the lines of what can AIMCO do to restore the trust of the people of Alberta? #AbLeg#handsoffmypension
The response is really shows the problems with @Alberta_Finance and their relationship with @aimcoinvests. They (TBF DM Athana) refused to answer the question because it has more to do with teachers and not the Heritage Fund. #AbLeg#handsoffmypension
Well, let's just cut that apart for a moment. Big picture: AIMCO was used, knowingly or not, as a weapon to assault different labour groups. The fiduciary duty of these plans was interfered with and replaced with Travis' discretion. Everybody in AB saw this. #AbLeg#handsoff
Not only was the trust of teachers destroyed, but the general public of AB really needs to ask the question about trusting @Alberta_Finance and their relationship with @aimcoinvests.
@davideggenAB got this, and deserves an answer to his Q.
As I have said before, Kevin should of been smart enough not to allow @aimcoinvests to be used as a weapon. But that, as they say, is water under the bridge. #AbLeg#handsoffmypension
Shout out to all the @aimcoinvests employees that search up my @LinkedIn profile every week. I only have the bare bones version of my qualifications up on that site.
If you have any questions about my experience please feel free to DM me. #AbLeg#handsoffmypension
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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
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.
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.
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
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.
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
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