This is your daily pension announcement. Lots of you have heard back from your MLA with the the statement below👇. This one is from @JasonCoppingAB, but they are all the same. You need to go back at your MLAs HARD because this is some Stalin level disinformation. #AbLeg #abpoli

In no particular order I will run through the errors:

1. "the Alberta Government ...holds the liability of the ATRF plan.."

Absolutely, unequivocaly false. Read the Teachers' Pension Plan Act. Any liabilities are paid off 49% by the GOA/51% by the teachers. #AbLeg #abpoli

This is a risk shared plan, teachers pick up 51% of the financial risk. This is a benefit to the taxpayers. Not all plans in Canada are risk shared but ATRF sure as hell is.

(even the Fraser Institute admits this) #AbLeg #handsoffmypension

If @JasonCoppingAB would read the latest ATRF Annual Report he would see that we (teachers 51%/49% GOA) are currently paying off a deficiency that is equal to 3.28% of pay. #AbLeg #handsoffmypension

2. Next false statement: he says that section 3.8(c), giving AIMCo the right to refuse instructions from ATRF, is "a standard provision" in these types of agreements. Nope.
Just nope. #AbLeg #handsoffmypension This is a backdoor overreach into the ATRF's affairs.

This is your daily pension announcement. The Travis goes balls to the wall edition! It has been a busy week in pensions, so I will again dive into the dung heap with an open mouth. First up Mark (AIMCO Chair) makes a statement...#ABLeg #handsoffmypension

Read it carefully, because most of what he wrote is true.

"These factors define the success of the Canadian model of pension management." True. But he needs to acknowledge that ATRF had for generations contributed to the success of the Canadian pension model. #ABLeg #AMCOfail

The real humdinger is:
"The terms and conditions included in the Ministerial Orders are in the best interest of both AIMCo and its clients and clearly align interests."

Nope. That is why 0 out of 4 pension plans have signed an agreement. Take that to your MLA. #ABLeg #handsoff

The terms and conditions contained are egregious and irresponsible. They erode the responsibility of ATRF. But AIMCO doesn't give a shit because they knew if they run out the clock Travis will make it law anyway.

Mark knew that Travis is AIMCO's lackey. #ABLeg

Mark should have learned from his predecessor. Stay out of Alberta politics. Getting involved will lead to no good.

These investment management agreements need to be written on a commercially reasonable basis. Which would include the ability to fire them if required. #ABLeg