Thread by @yomeeks

The Pension Hawk™️is once again circling the carrion that is Treasury Board and Finance to bring you today's announcement.

The @aimcoinvests Board used to be a pest house for PCAA connected appointees. Ah, the good 'ol boys. #AbLeg

Did they have Alberta's best interest at heart? Maybe. Were they the best for a multi-billion dollar pension fund? Nope.

Board member selection for AIMCO has certainly evolved. You wouldn't know it because Travis has not publicly talked about anything to do with it. #AbLeg

It is bad to have a board that is deeply connected to the politics of AB investing the retirement savings of workers. This process needs to be non-political.

When Rachel became Premier the Board Chair of @aimcoinvests (Mac) offered to resign. #AbLeg For example.

The AIMCO Board is now supposed to recommend potential Board members for Travis to appoint. But that process is opaque and still subject to whim.

Jim Keohane was recently appointed. He is a super qualified pension expert. Why did it take so many years to get a pension expert?

I think the Board's psychology in the past was weighted heavily towards The Heritage Fund. Here are the good ol' berta (mainly) boys helping the GOA invest its money. But that narrative was false because most of the money was pensions that are not the GOAs. #AbLeg

All of these misalignment problems stem from the fact that @aimcoinvests is wholly owned by the GOA. And, Travis has overstepped by ordering the trustees of these assets to use AIMCO regardless of return or other issues. #AbLeg

Here is one more quote from Dr. Bob to brighten your day where he again reviews how Travis destroyed any trust that remained by calling retirement savings "public money". #AbLeg #handsoffmypension