Share this page!

The AB Teacher Pension War Room Profile picture
Twitter logo
Feb 25 • 5 tweets • 4 min read
This is your daily pension announcement, the budget edition! Travis does mention that $290 million increase for @aimcoinvests primarily for performance incentives that pay off. Funny how he can understand the concept of "net return" now and not as it applied to ATRF. #AbLeg #dumb
He also mentions that GOA pension plans are very well funded near or above 100%. Great news, somebody should put a stamp on that an mail it to the Fraser Institute. #AbLeg #handsoffmypension
But with Kevin Uebelein gone so are the grandiose plans @aimcoinvests. The red tape reduction people should really cut the layer named @aimcoinvests out from between teachers and their retirement savings. #AbLeg #handsoffmypension
In other news, the replacement CIO at @aimcoinvests has been named. Existing executives, Sandra Lau and James Barber have been named Co-chief Investment Officers. #AbLeg #handsoffmypension
I don't know James. Sandra's body of work is definitely worth the title.
I am really just glad Dale is gone. My opinion is that the risk management problems that led to the VOLTS debacle were (to some extent) due to friction between Dale and anybody working on risk management. #AbLeg #handsoffmypension

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with The AB Teacher Pension War Room

The AB Teacher Pension War Room Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @yomeeks

The AB Teacher Pension War Room Profile picture
Feb 21
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
Read 7 tweets
The AB Teacher Pension War Room Profile picture
Feb 19
This is your daily pension announcement: The Pension War Room™️ recognizes that it was just over two years ago Travis introduced short sighted changes to AB Teachers' and others pensions. #AbLeg #handsoffmypension
These changes from Travis led (directly and indirectly) to one lawsuit, countless demonstrations and the firing of almost all of @aimcoinvests client services people. What a two years has it been. Travis is now contemplating what will probably be his last budget. #AbLeg
I continue to marvel at our brand of democracy. Protests of thousands of people were ignored by the UCP and yet a protest of 74 people, some heavily armed and armored, is caved in to within minutes. Ahh, what it would be to be an MLA running out coffee and donuts to them. #AbLeg
Read 6 tweets
The AB Teacher Pension War Room Profile picture
Feb 13
This is your daily pension announcement: The Pension War Room™️notes that Bert Clark from Investment Management Corporation of Ontario (IMCO) sets the truth free on Travis' wild claims. #AbLeg #handsoffmypension
theglobeandmail.com/business/artic…
Central to the Travis argument: bigger investment funds will perform better because of lower costs and better investment opportunities.

That was not true in ATRF's case because it was already "large" at $20 billion. #AbLeg #handsoffmypension @MattJonesYYC really should read this
"Specifically, CEM found that, most funds with less than US$1-billion in assets achieved negative three basis points of NVA."

So as I have said many times, if you have a sub-$1 billion fund seek amalgamation. #AbLeg
Read 10 tweets
The AB Teacher Pension War Room Profile picture
Jan 30
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.
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
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
Read 8 tweets
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 27
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
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @yomeeks has new unrolls!

Check out other threads from @yomeeks!

Read all threads by @yomeeks

:(