This is your daily pension announcement: The Pension War Room™️would like to thank Dr. Oberg for one thing: he struck a committee to finally resolve the unfunded liability of the teachers' pension plan that had built up from 1958-1992. #AbLeg #handsoffmypension
He did that as one of the concession from the largest teachers' strike in AB history. This committee eventually wrote a report that I have posted in this space many times. @LukaszukAB was one of the authors.

A reminder that @jkenney continues to be fallacious about pensions.
These pension plans are not guaranteed by taxpayers. They are guaranteed by the assets in the plan that @aimcoinvests has investment control over. The teachers' plan, for example, had the guarantee removed in 1992. #AbLeg #handsoffmypensioon
It has become @jkenney's style to use objectively false information to further his political agenda. Which seems to be the GOA needs to takeover (read: hijack) the pension investment function to safeguard it.

Where is Travis and the @Alberta_Finance crew? #AbLeg ##handsoff
@jkenney's biggest lie is that the @aimcoinvests has saved $50 million so far for ATRF. They have not saved a dime. In fact, they have cost teachers millions and millions in transition costs while only having the assets for eight weeks. #AbLeg #handsoffmypension

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More from @yomeeks

19 Dec
This is your daily pension announcement: The Pension War Room™️revels in truth from Dr. Bob Ascah's AIMCO paper‼️Please allow me to provide the highlights that I have also been screaming! #AbLeg #handsoffmypension
parklandinstitute.ca/media_report_c…
Things like: “Trust in the governance of pension plans and in the investment management done on behalf of pension plan members ... is critical to the pension bargain..." (cont in next Tweet)
#AbLeg #handsoffmypension
"Unfortunately, this trust has been seriously eroded through legislative and regulatory actions taken by the United Conservative Party (UCP) government.”

The UCP have eroded trust. Sigh. Time for more action. #AbLeg #handsoffmypension
Read 12 tweets
10 Dec
This is your daily pension announcement: New member of the AIMCO Board just dropped! Rest assured, Lorraine Mitchelmore was appointed with absolutely no input from from the pension funds that make up the vast majority of @aimcoinvests assets. #AbLeg

qp.alberta.ca/documents/Orde…
She used to be the president of Shell Canada and is clearly a cut above the usual out-of-work oil and gas executive that is appointed.

On the plus side of the ledger, she does not appear to be a UCP or PCAA donor and is from the more progressive area of the oil and gas industry
On the negative side: why can't we get someone from the investment industry with pension plan experience? Is that too much to ask? That would better reflect AIMCO's assets. #AbLeg #handsoffmypension
Read 6 tweets
4 Dec
This is your daily pension announcement: The Pension War Room™️notes that there have been a series of unfortunate events. Travis (and @jkenney) took credit for bright fiscal update! #AbLeg #handsoffmypension
Travis and Jason have no influence over commodity prices and very limited influence over the economy in general. So your election platform being "the economy" is a fib to begin with. #AbLeg #dontpumpmyjack
@jkenney is spending most of his time in backroom fights over his leadership. You and I won't know the outcome until white smoke comes out of Cooper's Subaru.

It seems wrong to me that this fight is happening largely in secret when it involves our democracy. #AbLeg
Read 8 tweets
28 Nov
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
Read 6 tweets
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
26 Nov
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
Read 10 tweets

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