Thread by @yomeeks

This is your daily pension announcement. The Pension War Room™️does eagerly await the budget this week. Remember the UCP have little direct influence over the economy. Oil prices saved us again not the UCP. #whowilltakecredit #AbLeg #handsoffmypension

Some people like to take credit when none is due. Bumbles did throw away $1.2 billion on a pipe to nowhere.

I do need to remind you that public sector pension assets in AB are NOT PUBLIC MONEY despite what he says. Please read the Financial Administration Act. #AbLeg #handsoff

And, public sector pensions are NOT guaranteed by the GOA. In the case of teachers' pensions they were guaranteed until 1992.

They were guaranteed as compensation for the GOA under-funding them from 1957-1992. Teachers made their required contributions, GOA not so much. #AbLeg

In his most recent email to me Travis continues to flog a dead horse.
He opines that CEM bench-marking (a noted firm)"...concluded that AIMCo continues to be a low-cost, positive net value-add provider of investment services for its clients."
#AbLeg #handsoffmypension

Read that quote again. It is the very definition of damning with faint praise. The fact that AIMCo historically has occasionally added value is entirely different than being a top quartile performer. Sigh. #AbLeg #handsoffmypension

My evaluation is such that AIMCo always seemed to pay performance bonuses regardless of what the performance was. LTIP bonuses had an artificial "floor" inserted after the VOLTS debacle. #AbLeg #handsoffmypension

I would also take this opportunity to remind you that teachers are in no way represented on AIMCo's Board. Go take a look at Ontario Teachers' Pension Plan for a better example. Have a great Family Day! #AbLeg #handsoffmypension