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Mar 16 • 4 tweets • 4 min read
This is your daily pension announcement: The Pension War Room™️ confirms that it is true, Travis is giving almost everyone at @aimcoinvests raises, while many health care workers are getting rollbacks! Here is the Ministerial Order... #AbLeg #handsoffmypension
Raises for employees @aimcoinvests will range from 39% down to 3%. Meaning even the smallest raise will be more than teachers' have received in the last 7 years. Read it and weep. #AbLeg #handsoffmypension
In fairness, I think salaries for the rank and file at @aimcoinvests have been frozen since April 2018. Don't worry about the senior executives like @ewsiddall they are not subject to this legislation. #AbLeg #handsoffmypension
It is incumbent upon me to point this out because pension plan members are in NO WAY represented on @aimcoinvests Board. The AIMCO Board is solely representative of the GOA.

Costs are an important driver of pension plan returns. #AbLeg #handsoffmypension

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More from @yomeeks

The AB Teacher Pension War Room Profile picture
Mar 13
This is your daily pension announcement. The Pension War Room™️tried not to listen to @jkenney on the radio yesterday. Thanks so much to the teacher that phoned in about pensions. I just did not have the stomach for it. #AbLeg #handsoffmypension
I do need to point out that what @jkenney said was wrong, very wrong. Sigh. He repeated some Fraser Institute talking points that might go far in caucus. Please read the Teachers' Pension Plan Act for receipts. #AbLeg #handsoffmypension
For the umpteenth time: the GOA in DOES NOT guarantee teachers' pensions the financial risk is shared: 49% for the GOA and 51% for teachers.

This is why decisions about this plan **should** be made by the ATRF Board which is half appointed by the GOA and half by the ATA. #AbLeg
Read 6 tweets
The AB Teacher Pension War Room Profile picture
Feb 28
This is your daily pension announcement: Statement of @ewsiddall, @aimcoinvests CEO:
"We have advised our clients that we will be divesting our small number of Russian positions as soon as possible and that we will make no new purchases of Russian securities during the conflict.
....In addition, our Executive Committee has committed to match humanitarian donations made by our AIMCo colleagues."
If you want more details... #AbLeg #handsoffmypension
theprogressreport.ca/aimco_owns_mil…
@aimcoinvests continues to have a unique approach to investment disclosure in that they don't do any. Take a look at what BCIMC does. They publish (annually) a flipbook listing of their investment inventory. #AbLeg #handsoffmypension

uberflip.bci.ca/i/1442097-bci-…?
Read 4 tweets
The AB Teacher Pension War Room Profile picture
Feb 25
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
Read 5 tweets
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

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