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Jan 27 • 4 tweets • 3 min read
This is your daily pension announcement: The Pension War Room™️ would like to introduce the new @aimcoinvests Board Member: Theresa Whitmarsh. #AbLeg #handsoffmypension
linkedin.com/in/theresa-whi…
She used to be the Executive Director of the Washington State Investment Board, and I think I met her at a Pacific Pension Institute session. In any event, it is again good to see that @aimcoinvests is moving beyond out-of-work oil and gas executives again. #AbLeg #handsoff
WSIB is (roughly) the AIMCO of Wahington State. Rest assured loyal followers, your pension plan fiduciary and trustee was in no way consulted on this appointment. Travis made (and can rescind) this appointment at any time. #AbLeg #handsoffmypension
As a Board Member, I hope she is up to the task of solving @Aimco's structural and governance problems that have been so well documented right here on Twitter. I am certain that she has enough education to understand pension funds are not public money. #AbLeg #handsoffmypension

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More from @yomeeks

The AB Teacher Pension War Room Profile picture
Jan 29
The Pension War Room™️is pleased to report that the ATRF Annual Report just dropped! Get your copy here! There is so much provocative reading inside that I will analyze right here for your pleasure. #AbLeg #handsoffmypension
atrf.com/annual-reports/
Due to excellent investment returns coupled with strong risk control, contribution rates will go down next year (starting Sept 2022).
They will go down by aprox 2%: 1% of pay for teachers, and 1% of pay for GOA. More money in your pocket. #AbLeg
This one move of reducing contribution rates has done more to save Travis money than being forced to use @aimcoinvests ever will. Sigh.

The plan is now 98% funded, extremely well funded by any measure. #AbLeg #handsoffmypension
Read 10 tweets
The AB Teacher Pension War Room Profile picture
Jan 26
This is your daily pension announcement: Heritage Fund meeting today, video is available. Some good information along with some misinformation. The value add target for the Heritage is 1.00% over five years. Actual value add 0.3%. #readitandweep #AbLeg
In answer to the question Evan and Dale (CIO) let it slip that 0.7% value add would be top quartile.
You know, like ATRF had before you wrecked it. You took a manager with a value add of 0.7% and replaced it with one with 0.3%. Duh. #AbLeg

This decision will cost AB billions.
I get angry when @aimcoinvests refers to the pension funds as "clients". Hostages comes to mind as more accurate. Does anyone out in the Twitterverse have better word for enforced participation? #AbLeg #handsoffmypension
Read 7 tweets
The AB Teacher Pension War Room Profile picture
Jan 16
Well, do need to swing away from pensions for a thread on teacher discipline. The non-progressive conservatives seem to be substituting their opinions for fact. This may be TL:dr; regardless, facts do need to live. #AbLeg #handsoffmypension
In the mid-90's Minister of Education Gary Mar appointed me to the Council on Alberta Teaching Standards (COATS). It had representatives from all the major stakeholders, staff from AB Ed and a lawyer from justice. #AbLeg #handsoff
You remember Gary Mar? Heir-apparent in training for Ralph. Anyway, COATS was charged with developing a regulation that would address teacher discipline for NON-MEMBERS of the ATA. Ab Ed and the minster felt there was a strong and robust process in place at the ATA. #AbLeg
Read 10 tweets
The AB Teacher Pension War Room Profile picture
Jan 15
This is your daily pension announcement. The Pension War Room™️notes that @aimcoinvests still makes the news! This is the intrepid @LeannaO who broke the story about the VOLTS losses. While the article as a whole may not be much interest to you....#AbLeg #handsoffmypension
It is a good indicator of what is going on.
I would differ in the numbers a bit. I have it at 40 layoffs, another 40 substantially altered job descriptions and at least one external manager fired.

Oh, and a trio of new (high comp) executive positions. #AbLeg #handsoffmypensions
This is not likely the end either. When a new Chief Investment Officer is hired there will be more changes.

The Twitter version of public accountability is necessary here because teachers and other plan members are in no way represented on @aimcoinvests Board. #AbLeg
Read 8 tweets
The AB Teacher Pension War Room Profile picture
Jan 14
This is your daily pension announcement! The Pension War Room™️ wants you to read this, the most cogent response from Travis about the pension brouhaha. Then I will explain how it is still bullshit!🐂🐂💩💩 Please read this carefully. Critical thinking! #AbLeg #handsoffmypension
Did you get the last sentence? The one about an analysis conducted "based on publicly available information". Wrong. Travis is the Minister of Finance. He is one of the sponsors. He is entitled to all the data NOT just the public data. #AbLeg #handsoffmypension
He goes into a complex financial decision that will ultimately cost teachers and taxpayers $1.8 billion without proprietary data that is readily available to him? Really? Give your head a shake.

Travis, apparently could not be bothered to even access the data. #AbLeg #handsoff
Read 9 tweets
The AB Teacher Pension War Room Profile picture
Jan 9
This is your daily pension announcement, Dr. Bob Ascah takes a deep dive on @jkenney's crazy pension talk!
Once more for emphasis:
"Once contributions are taken in and invested they are not public money."
#AbLeg #handsoffmypension

abpolecon.ca/2021/12/17/can…
This is a deep dive in the @jkenney most recent bozo pension eruption. Please send a copy to your MLA. This is one of many issues in which he is sadly misinformed. His (wrong) opinion seems to come from a foreign funded anti-government organization #AbLeg #handsoffmypension
This is just a reminder that the GOA does NOT directly pay the cost of operating @aimcoinvests. Instead, the costs are apportioned to each fund and taken out of investment earnings. This is important because it puts plan members and the GOA on an equal footing for costs. #AbLeg
Read 5 tweets

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