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Apr 10 • 5 tweets • 4 min read
This is your daily pension announcement. The Pension War Room™️ would like to discuss math today. Specifically, @jkenney's winning number for him to keep his job: 50% plus 1 of votes cast. #AbLeg #handsoffmypension
Please compare that "winning" threshold with the percentage of the pension contributions that teachers make: 51%🔥🔥🔥😬 Teachers who are apparently unable to make certain decisions around these funds. #AbLeg #handsoffmypension

Democracy for some, dictatorship for others?
Decisions like choosing a cost effective investment manager. Or, @aimcoinvests CEO. Take a look at the Chicago Teachers' pension fund if you want to understand what poor accountability can look like.
#AbLeg #handsoffmypension
forbes.com/sites/edwardsi…
Using the @jkenney yardstick, it is my duty to inform you that most (far greater than 50%) funds invested by @aimcoinvests are not public money. And, yet 100% of the AIMCO Board is appointed by @jkenney.

Just think about that for a minute. #AbLeg #handsoffmypension
The last bit from @jkenney's speech. Complaints about him from everywhere including his inner circle are that he is a dictatorial micro-manager.

Nowhere in his speech did he acknowledge this or commit to change. #AbLeg

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More from @yomeeks

The AB Teacher Pension War Room Profile picture
Apr 7
This is your daily pension announcement: The Pension War Room™️opines on the similarity of a UCP hack Board firing CEO Dr. Verna Yiu and the same thing happening to Kevin Ubelien. #AbLeg #handsoffmypension
Both minsters (Copping and Travis) said, unconvincingly, that the Board did it not them.

Both received substantial severance, though Kevin's was at least 5X larger.

Just remember the GOA does not own most of the assets that @aimcoinvests has.
It is speculated that Dr. Yiu was fired for not being on board with "privatize a bunch of stuff before the elections". Kevin was fired, opinions differ here, because he was a recurring embarrassment to Travis. #AbLeg
Read 4 tweets
The AB Teacher Pension War Room Profile picture
Apr 3
This is your daily pension announcement. The Pension War Room™️recommends this video from @aimcoinvests explaining their purpose. Easy to write it off as corporate feel-goodery but it isn't. Watch carefully. #AbLeg #handsoffmypension
player.vimeo.com/video/405532467
I don't think humility was ever part of their vocabulary before. (I have some stories for another day). #AbLeg

In other news, one of the fawning Matts was expounding on how "interesting" @jkenney's radio show is.
This is my reminder that everything @jkenney has said about public sector pensions on the radio was incorrect:

1. Pensions are not guaranteed by the GOA.
2. Teachers bear 51% of the risk.
#AbLeg #handsoffmypension
Read 5 tweets
The AB Teacher Pension War Room Profile picture
Mar 31
The Pension War Room™️will change channels to a similar issue today: #Bill15 gets introduced today. It is Education (Reforming Teacher Profession Discipline) Amendment Act, 2022.

Which is known as the "retribution for teachers opposing the curriculum Act". #AbLeg
It removes the discipline function of the ATA that it has successfully executed for 85 years.

It is retribution much in the same way as the superintendents were awarded a disciplinary function for tepid support of the Minister. #AbLeg
If you want more background, read this from former standout Minster of Education Dave King. #AbLeg
cbc.ca/news/canada/ca…
Read 6 tweets
The AB Teacher Pension War Room Profile picture
Mar 19
This is your daily pension announcement: The Pension War Room™️ releases year end results for the major @aimcoinvests clients excluding @ATRFPension. In an annoying bit of accounting, AIMCO takes their year end as March 31 as if they were a GOA department. #AbLeg #handsoff
So it will be some months yet to see if @ewsiddall got a raise over what they were paying Kevin.

As I have said previously, above benchmark 1-year numbers for all of the big clients. Positive news. But some weird stuff you should be aware of as well. #AbLeg
LAPP: 1 year return of 15%, 7.5% above benchmark. Great! What drove that return? A 72.5% RETURN IN PRIVATE EQUITY. That definitely requires special attention from the Auditor General.

(Valuation of Private Equity is inexact. Caution required) #AbLeg #handsoffmypension
Read 8 tweets
The AB Teacher Pension War Room Profile picture
Mar 16
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
Read 4 tweets
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

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