This is your daily pension announcement: The Pension War Room™️brings you more ATRF Annual Report comment and analysis!!!
Travis gets a 1% cut in contribution rates (so do teachers): which will save him many, many times the amount he will save by forcing @aimcoinvests on us.
Travis gets a 1% cut in contribution rates (so do teachers): which will save him many, many times the amount he will save by forcing @aimcoinvests on us.
It is interesting to note that the ATRF Board is making this momentous decision; the very same ATRF Board that could not be consulted over over which investment manager to use. Go figure.
May I remind you the ATRF Board is joint, representing both sponsors, ATA & GOA. #AbLeg
May I remind you the ATRF Board is joint, representing both sponsors, ATA & GOA. #AbLeg
If you are a regular reader, you will note that this is the first Annual Report that has not contained a schedule of investments. That is all @aimcoinvests. It is industry standard to include a listing of investments and major partners. #AbLeg #handsoffmypension
This is important because in CAN and the US there are private equity firms run by people (free market fundamentalists) who are opposed to unions in any form. Do you see the problem? We need to know who the PE partners are. ESG risk. @aimcoinvests. #AbLeg #handsoffmypension
The ATRF CEO is now subject to the salary restraint (RABCA) legislation. I won't bore you with the details, but it looks like this position has been put in one band too low. (ATRF manages the plan and its own member services). Is this retribution from @Alberta_Finance? #AbLeg
That decision⬆️was likely Travis' to make. We need to pay these people enough to attract the talent to call @aimcoinvests on their shit when required. It's important. #AbLeg #handsoffmypension
It has been made clear to me again this week that TBF employees suffer from a knowledge deficit related to this plan.
The pre-1992 plan was GUARANTEED by the GOA. This GUARANTEE WAS REMOVED IN 1992 when the GOA started making full actuarial contributions. #AbLeg #handsoff
The pre-1992 plan was GUARANTEED by the GOA. This GUARANTEE WAS REMOVED IN 1992 when the GOA started making full actuarial contributions. #AbLeg #handsoff
One more thing for @ChristinaNDP and @SPhillipsAB: at last week's heritage fund meeting Dale MacMaster said the value add target was a "stretch target". It is not. It is an expectation met more often than not. He needs a course at Wharton. #AbLeg #handsoffmypension
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