Thread by @yomeeks

This is your daily pension announcement! The Pension War Room™️is scandalized that the former @aimcoinvests CEO Kevin's severance pay adds up to over $10 million dollars! How much do you have to hate him to pay him a cool $10 million to go away? #AbLeg

Kevin made between $2.5-$3.0 million per year at @aimcoinvests so severance of that amount might be expected since he only had a few months left on his contract. But $10 million? C'mon that is just egregious. #AbLeg #handsoffmypension

Where is our fiscally responsible @ToewsforAlberta now?

Of course @aimcoinvests is "quasi-independent" preferring to be independent on some things like executive compensation and preferring to be a government organ on other things like client relations. #AbLeg #handsoff

A substantial portion of Kevin's severance pay will be distributed over the next couple of years. So, since it is treated as a normal compensation expense, rest assured that teachers will pay a portion of Kevin's payout. #AbLeg #handsoffmypension

How do we avoid this type of mismanagement in the future?

Make sure the GOA is not the sole owner of @aimcoinvests. Make sure Board members are appointed by the pension plans in the same proportion as assets on deposit. #AbLeg

People who are appointed by organizations that have skin in the game generally treat money more dearly.

Travis and the GOA are motivated by a desire to make Kevin go away quietly without causing further political problems or a lawsuit. #AbLeg

Which is to say no one has established Kevin's culpability in the whole VOLTS mess. I would like to see the Minister who was (ir)responsible at the time (Travis) make some sort of comment on this. Something he has steadfastly refused to do. #AbLeg