---------- Original message ----------
From: Premier of Ontario | Premier ministre de l’Ontario <Premier@ontario.ca>
Date: Mon, 20 Jun 2022 11:09:09 +0000
Subject: Automatic reply: Methinks the VESTCOR boss wants the big
bonus before he retires and the stock market crashes again N'esy Pas
Mr Jones?
To: David Amos <david.raymond.amos333@gmail.
Thank you for your email. Your thoughts, comments and input are greatly valued.
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---------- Original message ----------
From: "Bergen, Candice - M.P."<candice.bergen@parl.gc.ca>
Date: Mon, 20 Jun 2022 11:10:10 +0000
Subject: Automatic reply: Methinks the VESTCOR boss wants the big
bonus before he retires and the stock market crashes again N'esy Pas
Mr Jones?
To: David Amos <david.raymond.amos333@gmail.
On behalf of the Hon. Candice Bergen, thank you for contacting the
Office of the Leader of the Official Opposition.
Ms. Bergen greatly values feedback and input from Canadians. We read
and review every incoming e-mail. Please note that this account
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Sincerely,
Office of the Leader of the Official Opposition
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Au nom de l’hon. Candice Bergen, nous vous remercions de communiquer
avec le Bureau de la cheffe de l’Opposition officielle.
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Bureau de la cheffe de l’Opposition officielle
---------- Original message ----------
From: David Amos <david.raymond.amos333@gmail.
Date: Mon, 20 Jun 2022 08:07:47 -0300
Subject: Methinks the VESTCOR boss wants the big bonus before he
retires and the stock market crashes again N'esy Pas Mr Jones?
To: "blaine.higgs"<blaine.higgs@gnb.ca>, "Frank.McKenna"
<Frank.McKenna@td.com>, john.sinclair@
george.long@
"Katie.Telford"<Katie.Telford@pmo-cpm.gc.ca>, "andrew.scheer"
<andrew.scheer@parl.gc.ca>, "Candice.Bergen"
<Candice.Bergen@parl.gc.ca>, "pierre.poilievre"
<pierre.poilievre@parl.gc.ca>, "jagmeet.singh"
<jagmeet.singh@parl.gc.ca>, Newsroom <Newsroom@globeandmail.com>,
"nick.brown"<nick.brown@gnb.ca>, premier <premier@ontario.ca>,
andre@jafaust.com, jbosnitch@gmail.com, news@kingscorecord.com,
bruce.fitch@gnb.ca, ernie.steeves@gnb.ca, "kris.austin"
<kris.austin@gnb.ca>, "denis.landry2"<denis.landry2@gnb.ca>, "Mitton,
Megan (LEG)"<megan.mitton@gnb.ca>, "marc.martin"
<marc.martin@snb.ca>, "Marc.Léger"<Marc.Léger@gnb.ca>, "len.hoyt"
<len.hoyt@mcinnescooper.com>, "greg.byrne"<greg.byrne@gnb.ca>,
"Arseneau, Kevin (LEG)"<kevin.a.arseneau@gnb.ca>,
"andrea.anderson-mason"<andrea.anderson-mason@gnb.ca>
<premier@gnb.ca>, "robert.gauvin"<robert.gauvin@gnb.ca>,
"michelle.conroy"<michelle.conroy@gnb.ca>, "Mike.Comeau"
<Mike.Comeau@gnb.ca>, oldmaison <oldmaison@yahoo.com>, "mike.obrien"
<mike.obrien@fredericton.ca>, "mike.cameron3"
<mike.cameron3@bellmedia.ca>, "steve.murphy"<steve.murphy@ctv.ca>,
"david.eidt"<david.eidt@gnb.ca>, "David.Akin"
<David.Akin@globalnews.ca>
Cc: motomaniac333 <motomaniac333@gmail.com>, "Robert. Jones"
<Robert.Jones@cbc.ca>, "Roger.L.Melanson"<roger.l.melanson@gnb.ca>,
"robert.mckee"<robert.mckee@gnb.ca>
Too Too Funny
https://www.cbc.ca/news/
Deja Vu Anyone???
https://davidraymondamos3.
Wednesday, 24 February 2021
Auditor general recruits MLAs for help in dispute with N.B.'s pension body
Double bonus payments net N.B. pension fund executives record rewards
Vestcor adopted new bonus program in 2021, but delayed cancelling old one
Investment managers and executives with the Fredericton-based firm that oversees New Brunswick government pension funds earned a record $8.4 million in bonus pay in 2021 from two incentive programs that operated simultaneously, records show.
The bonuses earned by senior personnel of Vestcor were $3.3 million higher than the previous record amount paid in 2019 and $4.3 million higher than what was paid in 2020.
Much of the increase was generated by the operation of two bonus programs in 2021 that in many cases paid rewards to employees for the same achievements twice.
The size and growth of Vestcor's bonus program is one of the issues New Brunswick's Office of the Auditor General said in 2021 it would like to review with the organization. At the time, Vestcor disputed that it is subject to the auditor general's authority any longer, in what has become an ongoing issue between the two.
"Vestcor's accountability to government, the Legislative Assembly and the public remains a significant concern for our Office," declared a report issued by new Auditor General Paul Martin earlier this year.
"Two of our most significant areas of concern continue to be NB Power's ability to self-sustain its operations and the Auditor General's access to Vestcor."
Vestcor invests $21 billion in pension and other assets at home and around the world. It helped finance construction of the new Fredericton office building at 140 Carleton St. and then became a key tenant by moving its offices into the fourth floor. (Joe McDonald/CBC)
Vestcor is headquartered in Fredericton and was set up in the 1990s to manage what has become $21 billion in New Brunswick government employee pension and other funds.
It was originally a Crown agency but was reconfigured, renamed and given its independence in 2016.
It's now jointly owned by the province's two largest public pension plans serving New Brunswick civil servants and teachers, but it also oversees the retirement plans of hospital workers, nurses, Crown corporation employees, provincial court judges, MLAs and other groups.
Vestcor also manages other investment accounts, including University of New Brunswick endowment funds, retirement accounts for other organizations like the City of Fredericton and nuclear waste and decommissioning funds for NB Power.
Although Vestcor is not owned by government any longer, two New Brunswick auditor generals have argued "the significant amount of funds from public sources Vestcor manages" as well as its "extensive government-entity client base" make its operations a public interest concern.
Auditors concerned
Vestcor has offered incentive programs to employees for more than two decades. The organization argues bonus pay is standard in the investment industry, helps to recruit and retain quality employees and incentivizes good performance.
In Vestcor's case, bonus payments started out at modest levels but over the years grew significantly, an issue that eventually caught the attention of auditors.
"The Auditor General should have unrestricted access to audit the reasonableness of Vestcor's incentive program," former New Brunswick Auditor General Kim Adair-MacPherson wrote in her report on the matter in early 2021.
"Vestcor has paid over $30 million in employee incentives (bonuses) since 2010 and incentives have increased by almost 500 per cent since 2010. Five senior executives have received almost $19 million in incentives and salary since 2014."
Kim Adair-MacPherson, New Brunswick's former auditor general, issued a report in 2021 calling on the province to explicitly give her office the authority to audit Vestcor. Among other issues, she said the organization's escalating payments of bonuses to employees should be reviewed. (Michel Corriveau/Radio-Canada)
In its latest annual report released last week, Vestcor disclosed there had been an internal overhaul of "incentive pay" at the organization that took effect on Jan. 1, 2021 — just before Adair-MacPherson's report — that further boosted bonuses from amounts she was already concerned about.
Vestcor created a new simplified bonus pay structure to replace the previous system and added both enhancements and restrictions.
One new rule requires bonus amounts earned by employees to be paid out over four years, including 50 per cent in the first year and equal amounts in subsequent years with interest accumulating on amounts not immediately paid out.
Promises were also made to employees that the new bonus plan would be as generous as the one it replaced and would produce "outcomes similar to those under the prior program."
Despite that, there was also a decision not to completely end the prior bonus program when the new one took effect. Instead, Vestcor's board of directors voted to keep the most lucrative part of the original bonus system operating alongside the new system for 2021, 2022 and 2023.
New Brunswick's new auditor general, Paul Martin, renewed calls by his predecessor for authority to audit Vestcor's operations. In a report in February, his office called the issue one of its two largest concerns. (Submitted)
"Employees … will continue to be eligible to receive annual payments determined under the previously existing … plan," explained Vestcor in its annual report about the decision to run two bonus systems simultaneously.
"These remaining applicable payments will continue to be subject to Board of Director approval."
Double bonus payments
The result was double bonus payments and record earnings for a select group of Vestcor employees in 2021, including the organization's four most senior executives.
John Sinclair, Vestcor's longtime president and chief executive officer, who received $882,721 in bonus pay in 2019 and $681,412 in 2020 under the old incentive plan, received $1,278,750 in 2021.
About two-thirds of Sinclair's bonus pay, $828,750, was generated by the new bonus system but $450,000 came from the old bonus program that was allowed to operate alongside it.
That pushed Sinclair's total earnings for the year, including his base salary ($375,053) and contributions Vestcor made to his pension account ($115,386) to $1.77 million.
Three other senior executives who had shared just under $1 million in bonus pay in 2020, shared $2.16 million in 2021. Most of that increase came from $766,300 generated from the still active older bonus program that was allowed to run alongside the new program.
Sinclair emailed response
In an email, Sinclair noted an external consultant hired by Vestcor approved the concept of the two bonus programs running at the same time until the "deferral process" of the new bonus plan fully unfolds.
Also, Sinclair said the portion of the old bonus program that is still running was designed to pay amounts based on four-year results and so has a natural lag time built into it.
"The long-term four-year focus, and implied waiting period to receive the applicable payout, provided a strong alignment with long-term client objectives while also providing a strong long-term employee retention motivation," wrote Sinclair. "The wind down … completes the previously initiated four-year cycles."
However, according to Vestcor's annual report, the two bonus programs overlap in significant ways and operating them at the same time has resulted in employees being rewarded twice for the same achievement.
Both, for example, reward employees when investment returns hit levels above targeted amounts over four-year periods.
In 2021, Vestcor reported its funds earned combined returns over four years of 7.5 per cent, 0.98 per cent above the target amount. That triggered substantial rewards for Vestcor employees from both bonus pools.
On that point, Sinclair suggested that is natural given both the "legacy" bonus scheme and new one were designed to reward the same long-term results, "resulting in a strong focus on the importance of four-year client returns."
ABOUT THE AUTHOR
---------- Forwarded message ----------
From: David Amos <david.raymond.amos333@gmail.
Date: Fri, 21 Jun 2019 15:09:17 -0400
Subject: Methinks the reason the VESTCOR dudes don't call or write is
because Mr Higgs and Franky Boy McKenna don't love me Nesy Pas?
To: comments@vestcorinvestments.
BrianThomasMacdonald@gmail.com, mckeen.randy@gmail.com,
brian.gallant@gnb.ca, pm@pm.gc.ca, David.Barr@gnb.ca,
Cyril.Theriault@gmail.com, postur@for.is, Bill.Morneau@canada.ca,
Robert.Jones@cbc.ca, info@scapitalmgmt.com, LKolivakis@gmail.com,
carl.urquhart@gnb.ca, Stephen.Horsman@gnb.ca,
Newsroom@globeandmail.com, andre@jafaust.com, jbosnitch@gmail.com,
news@kingscorecord.com, bruce.fitch@gnb.ca, ernie.steeves@gnb.ca,
"kris.austin"<kris.austin@gnb.ca>, "denis.landry2"
<denis.landry2@gnb.ca>, "Mitton, Megan (LEG)"<megan.mitton@gnb.ca>,
"marc.martin"<marc.martin@snb.ca>, "Marc.Léger"<Marc.Léger@gnb.ca>,
"len.hoyt"<len.hoyt@mcinnescooper.com>, "greg.byrne"
<greg.byrne@gnb.ca>, "serge.rousselle"<serge.rousselle@gnb.ca>,
"Arseneau, Kevin (LEG)"<kevin.a.arseneau@gnb.ca>, "rick.desaulniers"
<rick.desaulniers@gnb.ca>, "andrea.anderson-mason"
<andrea.anderson-mason@gnb.ca>
"robert.gauvin"<robert.gauvin@gnb.ca>, "michelle.conroy"
<michelle.conroy@gnb.ca>, "Mike.Comeau"<Mike.Comeau@gnb.ca>,
oldmaison <oldmaison@yahoo.com>, "mike.obrien"
<mike.obrien@fredericton.ca>, "mike.cameron3"
<mike.cameron3@bellmedia.ca>, "steve.murphy"<steve.murphy@ctv.ca>,
"david.eidt"<david.eidt@gnb.ca>, "David.Akin"
<David.Akin@globalnews.ca>, premier <premier@ontario.ca>,
attorneygeneral <attorneygeneral@ontario.ca>, "Katie.Telford"
<Katie.Telford@pmo-cpm.gc.ca>, justin.trudeau.c1@parl.gc.ca,
"andrew.scheer"<andrew.scheer@parl.gc.ca>, "maxime.bernier"
<maxime.bernier@parl.gc.ca>, "jagmeet.singh"
<jagmeet.singh@parl.gc.ca>
Cc: motomaniac333@gmail.com, "Frank.McKenna"<Frank.McKenna@td.com>,
john.sinclair@
george.long@
https://davidraymondamos3.
Friday, 21 June 2019
N.B. pension management employees score record $5M in bonuses
https://twitter.com/
David Raymond Amos @DavidRayAmos
Replying to @DavidRayAmos @alllibertynews and 49 others
Methinks the reason the VERY GREEDY VESTCOR dudes don't call or write
is because Blaine Higgs and their LIEbrano/lawyer/Bankster buddy
Franky Boy McKenna don't love me Nesy Pas?
https://davidraymondamos3.
#cdnpoli #nbpoli
https://www.cbc.ca/news/
---------- Original message ----------
From: "MinFinance / FinanceMin (FIN)"
<fin.minfinance-financemin.
Date: Fri, 21 Jun 2019 16:33:34 +0000
Subject: RE: YO John Sinclair I called YOU at Vestcor Pension Services
Corporation (506 453-2296) AGAIN Afterr the usual runaround I got a
direction to contact some lady's voicemail
To: David Amos <david.raymond.amos333@
The Department of Finance acknowledges receipt of your electronic
correspondence. Please be assured that we appreciate receiving your
comments.
Le ministère des Finances accuse réception de votre correspondance
électronique. Soyez assuré(e) que nous apprécions recevoir vos
commentaires.
---------- Original message ----------
From: Newsroom <newsroom@globeandmail.com&
Date: Fri, 21 Jun 2019 16:31:09 +0000
Subject: Automatic reply: YO John Sinclair I called YOU at Vestcor
Pension Services Corporation
(506 453-2296) AGAIN Afterr the usual runaround I got a direction to
contact some lady's voicemail
To: David Amos <david.raymond.amos333@
Thank you for contacting The Globe and Mail.
If your matter pertains to newspaper delivery or you require technical
support, please contact our Customer Service department at
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If you are reporting a factual error please forward your email to
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This is the correct email address for requests for news coverage and
press releases.
N.B. pension management employees score record $5M in bonuses
Province's investments saw 2% gain last year, despite significant
declines in global stock markets
Robert Jones · CBC News · Posted: Jun 17, 2019 6:10 PM AT
Vestcor president John Sinclair earned $1.39 million in 2018,
documents show. (You Tube/Vestcor)
The organization handling New Brunswick government pension and other
funds awarded its employees a record $5 million in bonuses last year,
including $902,438 to its president after the province's investments
managed to post a two per cent gain, despite significant declines in
global stock markets.
Vestcor is the Fredericton-based investment firm set up by the
province to manage what has become $16.9 billion in funds, including
retirement savings for provincial civil servants, teachers and most
hospital workers.
Vestcor also invests pension money for the University of New Brunswick
and the City of Fredericton and handles hundreds of millions of
dollars set aside by NB Power to deal with the eventual
decommissioning of the Point Lepreau nuclear generating station and
its stockpile of nuclear waste.
According to its latest annual report, Vestcor posted a 2.08 per cent
gain on investments in 2018 — less than the rate of inflation — but
significantly better than pension plans across the country, many of
which bled money during the year thanks to turbulent stock prices.
Province's pension managers get big bonuses for below average results
Exaggerated success: Province's pension managers profit from
'joke' target, analysts say
In a letter attached to the annual report, Vestcor's chairman Michael
Walton said it was "gratifying" that the organization was able to post
gains in what he called "the generally negative financial market
environment" of 2018.
In February, the Royal Bank's Investor and Treasury Services division
reported that Canadian defined benefit pension plans overall lost 0.7
per cent of their value in 2018, placing Vestcor's result in the top
tier of performances nationwide.
That helped fuel another boost in employee performance bonuses, which
have grown significantly at Vestcor in recent years.
Vestcor's long-time president John Sinclair saw his pay package in
2018 hit a new high of $1.39 million, a 9.5 per cent increase over
2017.
Bonuses exceed salary by 200%
Sinclair's base salary is $351,389 and, although Vestcor guidelines
show the upper target for executive bonuses allows for another 130 per
cent on top of that, Sinclair's bonus was once again well above that
upper range.
He earned $902,438 in bonuses in 2018 — what Vestcor calls "incentive
pay"— just under 257 per cent of his base salary.
Vestcor had more than $6 billion invested in global stock markets in
2018 and lost money on many of those holdings, like the $7 million it
had invested in the struggling General Mills as markets plunged. But
with $10 billion invested in other areas, such as real estate and
private companies, Vestcor managed to overcome those losses and post
overall investment gains for the year. (Matt Rourke/Associated Press)
It's at least the fourth year in a row Sinclair's bonuses have
exceeded his salary by 200 per cent or more.
Other Vestcor executives earning bonuses in excess of 130 per cent of
their base pay in 2018 include chief investment officer Jonathan
Spinney, who was awarded bonuses of $466,628 (190 per cent of his
salary), vice-president Daniel Goguen, who earned $344,476 on top of
his base pay (161 per cent), and vice-president James Scott, whose
bonuses totalled $328,891 (143 per cent).
Extended to all employees
Bonus payments at Vestcor have doubled over the last four years and,
in 2018, were expanded to cover all employees — not just those
involved in making investment decisions.
"This change provides further alignment with the performance of our
clients and ensures we continue to be able to attract and retain
talent while competitively keeping pace with other similar service
providers in our industry," wrote Walton in the annual report.
Vestcor defended bonus payments as a way to reward strong performance
and attract and retain talented employees. It also noted the practice
is common in the investment field.
However, Vestcor has never explained why the range it sets for
employee bonuses of between 30 and 130 per cent of base pay is
routinely exceeded by its top executives.
Vestcor does claim that its senior executives have beaten their
investment targets by a combined $567.1 million over the last four
years, including by $171.6 million in 2018 — the basis of the elevated
bonuses.
CBC's Journalistic Standards and Practices
60 Comments
Commenting is now closed for this story.
David Amos
"Vestcor also invests pension money for the University of New
Brunswick and the City of Fredericton and handles hundreds of millions
of dollars set aside by NB Power to deal with the eventual
decommissioning of the Point Lepreau nuclear generating station and
its stockpile of nuclear waste."
Oh My My Methinks I should thank CBC for telling me something I did
not know N'esy Pas?
Mike McCormick
Reply to @David Amos: Complaining that CBC is again reporting factual
news seems silly. Not everyone gets inside info and knows the results
beforehand like you. What does N’esy pas mean?
David Amos
Reply to @Mike McCormick: Methinks it because I know for a fact that
CBC does not report many things and my Chiac seems to make Anglos want
to correct me all the time which is kinda comical to me an my Acadian
friends N'esy Pas?
Richard Dunn
This is a project that Blaine Higgs needs to tackle. The returns this
find gets is horrible, when compared to the CPP investment returns,
and the wage and bonus packages, are beyond crazy.
It is time to clean house at Vestcor.
David Amos
Reply to @Richard Dunn: Dream on Methinks everybody knows Mr Higgs
created Vestcor N'esy Pas?
Alexander Forbes
I have a 12 month trailing return of over 6% on my personal
investments. 2% isn't worthy of $5million in bonuses..
David Amos
Reply to @Alexander Forbes: Methinks I should wish you luck explaining
that to Mr Higgs N'esy Pas?
Greg Miller
How does a 2% gain compare to the TSX last year--not so good. So what
is their achievement measure against?
David Amos
Reply to @Greg Miller: Methinks they measured against Mr Higgs winning
a mandate N'esy Pas?
Reggie Sinclair
What are base salaries of its other employees? My pension is held with
Vestcor and despite numerous requests I’ve never been given an
answer...even if it was a “range” like the province does with its
annual “blue book.” What other perks do they receive (conference
allowances, etc.)
David Amos
Reply to @Reggie Sinclair: Blue Book it
John Jarratt
Gee, the banks were paying more than 2% last on some of their GIC's.
How do these guys rate any bonus?
David Amos
Reply to @John Jarratt: They don't
Roy Kirk
"Vestcor does claim that its senior executives have beaten their
investment targets by a combined $567.1 million over the last . . ."
===
Perhaps the performance targets are too low? Not every Crown Corp can
reward its executives by moving their year end! ;-)
David Amos
Reply to @Roy Kirk: Methinks politicians can do anything they wish to
benefit their politically appointed buddies They are not gonna
prosecute themselves and everybody makes fun of you if you sue the
Crown like I do in an effort to hold them accountable N'esy Pas?
James Reed
Reply to @Roy Kirk: Vestcor is not a crown corporation - it is a
company jointly owner by the Public Service pension plan and the NB
teachers pension plan.
David Amos
Reply to @James Reed: Methinks the nurses and many others would like
to see you explain the following statement N'esy Pas?
"Vestcor also invests pension money for the University of New
Brunswick and the City of Fredericton and handles hundreds of millions
of dollars set aside by NB Power to deal with the eventual
decommissioning of the Point Lepreau nuclear generating station and
its stockpile of nuclear waste."
James Reed
Reply to @David Amos: I'm not sure what you mean - the Public Service
pension plan and the NB teachers pension plan own Vestcor ... they
manage the funds for those two pensions, but they also mange the funds
for over a dozen other plans. Those other plans have zero ownership in
Vestcor, they pay Vestcor to manage their funds.
David Amos
Reply to @James Reed: Obviously I disagree Methinks you should explain
your reasoning to the lawyers involved in the lawsuits Mr Higgs and
his cohorts know that I have been doing so since 2013 N'esy Pas?
Alfred Watson
Vestcor was created to allow politicians to reward their favorites
with plum positions and unwarranted reimbursement for doing nothing.
Public service union heads signed on to this cursed pension money grab
in return for appointment to a government " board". Corruption at its
best!!!!
David Amos
Reply to @Alfred Watson: "Corruption at its best!!!!"
Methinks many a true word is said in jest N'esy Pas?
Bernard McIntyre
Wow 2% the Canada Pension Plan made an 8% gain so really Vestcor did
really bad in investing but still get outrageous bonuses. Something
has to be done about this be cause really it's criminal. The CPP
directors spent 3.2 of the 3.9 billion $ of money that Canadian's
contributed to the plan in a year and now I read about this in the N.B
pension plan. Just imagine how much more money we would be receiving
from for pensions if we weren't getting ripped off by these directors
of these pension plans
David Amos
Reply to @Bernard McIntyre: Methinks as long as Mr Higgs and his
cohorts are Happy Happy Happy these overpaid dudes will keep on
getting unearned bonuses N'esy Pas?
Lou Bell
Reply to @David Amos: Higgs has nothing to do . WITH THIS PRIVATE CORPORATION
Bernard McIntyre
Reply to @David Amos: Opps me bad again.
David Amos
Reply to @Bernard McIntyre: Nope I like your style Methinks its fairly
obvious that there is a lot Mr Bell don't know about Vestcor and Mr
Higgs N'esy Pas?
Jim Macdonald
This is a total rip-off. Disband this greedy organization and find a
better group to manage the pension funds.
David Amos
Reply to @jim macdonald: Methinks many would agree that the employees
and the pensioners should manage their own pension funds. There are
several lawsuits about the creation of Vestcor N'esy Pas?
McKenzie King
I'm not sure why we are giving bonuses to peole simply because they
have done their jobs properly. Their job was to invest so the fund
would grow, and that is exactly what they did. And right now, you can
get 1.9% in a savings account in some banks, so 2%, when we had to
spend all this money to get it doesn't look that good. Next year, if
they don't make money, with they pay a $5 million penalty to the
government???
David Amos
Reply to @McKenzie King: Methinks everything political is always about
the money and this is a politically created corporation designed to
play with money a little differently than the way McKenna and his
cohorts first created it N''esy Pas?
Lou Bell
Reply to @McKenzie King: That was last year . And a 357,000 dollar
salary to run a company this size is well below par. Compare what they
make this year to your 1.9 % and let us know how well you do compared
to this years return.
Lou Bell
Reply to @David Amos: If you really would like to know , this is now a
private corporation , no longer a Crown Corporation , so the
government can np longer dip into it as they like .
Bernard McIntyre
Reply to @Lou Bell: A 357,000$ salary plus 4 times that salary in
bonuses. yes makes sense to me. Not!!!
Lou Bell
Reply to @Bernard McIntyre: Check out what presidents of fund managers
of most investment companies make annually. Think you'll find many
most make well over 1.3 million , many in excess of 2 million ! Plus
bonuses !
Lou Bell
Reply to @Bernard McIntyre: From what the story says it was 2.5 times
the salary ! Tell me how you get 4 TIMES the salary !!! New math
???????????????
David Amos
Reply to @Lou Bell: Methinks you don't have the first clue about what
I know or don't know because you never bothered to check my work N'esy
Pas?
Lou Bell
Reply to @David Amos: You told us all about it. And the average 25
votes you received each election . Sometimes you didn't even get the
full 25 votes you had on your nomination papers. Time to quit beating
a dead horse. Maybe try knitting .
BruceJack Speculato
This is the same pension plan that will not pay inflation raises to
pensioners if they judge the fund did not earn enough more than the
CPI but the president gets more than double his salary even when the
fund earned less than the inflation rate?
Lou Bell
Reply to @BruceJack Speculator: Pensioners did receive their inflation
raises. Do we know what he gets if it doesn't reach what you
speculate? They made 171 million last year , where many funds lost
money. I'd think that's worth a bit wouldn't you? And
a salary of 357,000 dollars would certainly be well below par for the
course for running a company of this size.
Bernard McIntyre
Reply to @Lou Bell: The Canada Pension Plan Made 8%. the N.B pension
plan made 2%. but of course Canadian's are getting ripped off by the
director's of both plans.
Lou Bell
Reply to @Bernard McIntyre: No, the CPP didn't make 8 % last year.
Where did you come up with that number ?? PLEASE TELL !!!
Lou Bell
Reply to @Bernard McIntyre: Is this like the 4x bonus you claimed
Sinclair made, although the story clearly indicates it was 2.5 times
???
David Amos
Reply to @BruceJack Speculator: YUP
David Amos
Reply to @Bernard McIntyre: Methinks now that he is hollering at you
perhaps you are sorta bad in a righteous kind of way but if you keep
teasing him you may give poor old Lou a stroke N'esy Pas?
Lou Bell
Reply to @David Amos: Tell us about who should remember you today and
be scared . Another " more about you than the story " Amos Minute .
Lou Bell
Many commenting here would sooner see their investments with one of
the majority of fund managers that lost money last year and who most
likely had Company Presidents who would have made in excess of 1
million dollar salaries with smaller bonuses than one that made 171
million dollars last year. I'd have expected more thought put into
this by Canadians , Americans maybe less , but not Canadians . I'm
extremely happy with the way my pension is handled thank you !
David Amos
Reply to @Lou Bell: "I'm extremely happy with the way my pension is
handled thank you !"
Surprise Surprise Surprise
Lou Bell
Reply to @David Amos: Apparently you'd prefer the old CPP plan ! I
haven't got that " sense of entitlement some others seem to have here.
Not sure you have a clue what you prefer . Maybe tell us who remembers
you and why they should be scared of you this time .
John O'Brien
I'd like to see an audit. How much of the ROI is just accounting smoke
and mirrors whose only purpose is to maximize bonuses.
David Amos
Reply to @John O'Brien: "I'd like to see an audit."
Me Too
Lou Bell
Reply to @John O'Brien: I'm sure if you check it out you can find one
. I expect one is done at least annually . And are you affected by
this ? Do you have a pension with them ? If so , go to the annual
meeting. If not , it's probably none of your business. You too Amos .
Lou Bell
Interesting . Any complainers who've been denied their cost of living
? Nope. Appears some former government employees commenting here still
expect not only their cost of living but still expecting A RAISE !!
Every year one gets a printout of what they can expect to get on
retirement. And it appears their sense of entitlement indicates in the
good years they expect a lot more , and yet don't want to take a cut
in bad years. The present setup is exactly the reason they want to
avoid running into what the CPP ran into ! Not too hard to understand
if one knows anything about economics at all.
David Amos
Reply to @Lou Bell: Cry me a river
---------- Original message ----------
From: David Amos <david.raymond.amos333@
Date: Fri, 21 Jun 2019 12:25:05 -0400
Subject: YO John Sinclair I called YOU at Vestcor Pension Services
Corporation (506 453-2296) AGAIN Afterr the usual runaround I got a
direction to contact some lady's voicemail
To: comments@vestcorinvestments.
BrianThomasMacdonald@gmail.com , mckeen.randy@gmail.com,
David.Coon@gnb.ca, Davidc.Coon@gmail.com, leader@greenparty.ca,
brian.gallant@gnb.ca, pm@pm.gc.ca, David.Barr@gnb.ca,
Cyril.Theriault@gmail.com, postur@for.is, Bill.Morneau@canada.ca,
Robert.Jones@cbc.ca, info@scapitalmgmt.com, LKolivakis@gmail.com,
carl.urquhart@gnb.ca, Stephen.Horsman@gnb.ca,
Newsroom@globeandmail.com, andre@jafaust.com, jbosnitch@gmail.com,
news@kingscorecord.com, bruce.fitch@gnb.ca, ernie.steeves@gnb.ca
Cc: motomaniac333@gmail.com, john.sinclair@
george.long@
https://www.cbc.ca/news/
N.B. pension management employees score record $5M in bonuses
Province's investments saw 2% gain last year, despite significant
declines in global stock markets
Robert Jones · CBC News · Posted: Jun 17, 2019 6:10 PM AT
60 Comments
David Amos
Reply to @McKenzie King: Methinks everything political is always about
the money and this is a politically created corporation designed to
play with money a little differently than the way McKenna and his
cohorts first created it N''esy Pas?
http://davidraymondamos3.
Tuesday, 24 April 2018
Mr Jones of CBC big story today about Vestcor
http://www.cbc.ca/news/canada/
Investment target N.B. pension managers easily beat to generate big
bonuses called 'a joke'
Pension analyst says benchmark is inappropriately low, managers being
over rewarded
Robert Jones · CBC News · Posted: Apr 24, 2018 6:00 AM AT
44 Comments
Commenting is now closed for this story.
---------- Original message ----------
From: David Amos <motomaniac333@gmail.com&
Date: Tue, 24 Apr 2018 07:49:47 -0400
Subject: Re CBC big story today about Vestcor I wonder if Mr Jones of
CBC is aware of the exchanges I had with Troy Mann within CBC last
year?
To: "John.Sinclair"<John.Sinclair@nbimc.com&
<blaine.higgs@gnb.ca>, BrianThomasMacdonald
<BrianThomasMacdonald@
<mckeen.randy@gmail.com>
"Davidc.Coon"<Davidc.Coon@gmail.com>, leader
<leader@greenparty.ca>,
"brian.gallant"<brian.gallant@gnb.ca>, pm <pm@pm.gc.ca>,
David.Barr@gnb.ca, "Cyril.Theriault"<Cyril.Theriault@gmail.com&
postur <postur@for.is>, "Bill.Morneau"<Bill.Morneau@canada.ca>
Cc: David Amos <david.raymond.amos@gmail.
<Robert.Jones@cbc.ca>, info@scapitalmgmt.com, LKolivakis@gmail.com
http://www.cbc.ca/news/canada/
Investment target N.B. pension managers easily beat to generate big
bonuses called 'a joke'
Pension analyst says benchmark is inappropriately low, managers being
over rewarded
Robert Jones · CBC News · Posted: Apr 24, 2018 6:00 AM AT
My comments thus far today
David Amos
Methinks Mr Jones must recall our conversation about the investment
industry in late December of 2008 N'esy Pas?
.
David Amos
Does anyone recall Victor Boudreau's budget in 2009?
David Amos
Does anyone recall how Mr Higgs rearranged things in 2013 that have
inspired at least three lawsuits thus far?
Perhaps I should have a long talk with these dudes?
http://pensionpulse.blogspot.
This blog was created to share my unique insights on pensions and
investments. The success of the blog is due to the high volume of
readers and excellent insights shared by senior pension fund managers
and other experts. Institutional and retail investors are kindly
requested to support my efforts by donating or subscribing via PayPal
below. To get latest updates, even during the day, click on the image
of the big piggy bank at the top of the blog. For all inquiries,
please contact me at LKolivakis@gmail.com.
http://www.scapwealthadvisors.
S Capital Wealth Advisors
145 University Drive
Suite 2807
Amherst, Massachusetts 01004
Phone: 413-549-3351
Email: info@scapitalmgmt.com
http://davidraymondamos3.
Sunday, 27 August 2017
OH MY The CBC publishes a report of the questionable legal actions of
a Killer who is a Former Member of the RCMP who no doubt still
collecting his fancy pension
http://www.cbc.ca/news/canada/
'Vindictive and callous': Ex-Mountie wife killer costs family $45K
fighting estate
798 Comments
Commenting is now closed for this story.
http://davidraymondamos3.
Thursday, 20 July 2017
Methinks the Royal Family & Harper's old lawyer pal David Johnston
should call this ROUND 3 N'esy Pas Mr Prime Minister Trudeau "The
Younger" ?
http://www.cbc.ca/news/
Trudeau's silence on Payette's expunged assault charge shows double
standard: Robyn Urback
2925 Comments
Commenting is now closed for this story.
---------- Forwarded message ----------
From: David Amos <motomaniac333@gmail.com&
Date: Wed, 19 Jul 2017 10:49:36 -0400
Subject: Attn Troy Mann and David Barr RE Pensions and CBC and IT
dudes blocking me etc etc I called earlier I truly believe this is you
within CBC
To: Troy.Mann@gnb.ca, "John.Sinclair"<John.Sinclair@nbimc.com&
"blaine.higgs"<blaine.higgs@gnb.ca>, BrianThomasMacdonald
<BrianThomasMacdonald@
<mckeen.randy@gmail.com>
"Davidc.Coon"<Davidc.Coon@gmail.com>, leader
<leader@greenparty.ca>,
"brian.gallant"<brian.gallant@gnb.ca>, pm <pm@pm.gc.ca>,
David.Barr@gnb.ca
Cc: David Amos <david.raymond.amos@gmail.
<Cyril.Theriault@gmail.com&
<Bill.Morneau@canada.ca>
http://www.cbc.ca/news/
Show 52 older replies
David Raymond Amos
Content disabled.
@Troy Mann "You don't so shouldn't the media and the elected officials
get to the bottom of it?"
Hmmm where do I begin. How about CBC's "Fake News" buddies in CNN?
http://www.cnn.com/2017/06/16/
CBC knows for a fact that I crossed paths with the latest US Special
Counsel Robert Mueller and his boyz in the FBI bigtime way back in
2002.
Just Google three names and start reading
Robert Mueller David Amos CBC
I know for a fact that Mueller is a crook and proved it long ago. Why
do you think I sued the Yankee Feds in 2002 and then ran for pubic
office in Canada five times thus far?
If you doubt me then read pages 1 and 2 of this ancient file
https://www.scribd.com/
David Raymond Amos
@Troy Mann Trust that I tried to answer your question
http://www2.gnb.ca/content/
MANN, TROY (Chief Executive Officer)
Vestcor
http://www2.gnb.ca/content/
Vestcor Investment Management Corporation
440 King Street
York Tower, Suite 680
Fredericton, New Brunswick
Canada E3B 5H8
Phone: (506) 444-5800
Fax: (506) 444-5025
E-mail: comments@vestcorinvestments.
http://nbimc.com/uploads/PMCo-
Contact Information
440 King Street, York Tower, Suite 680
Fredericton, N.B., Canada, E3B 5H8
Tel: (506) 444-5800
www.vestcor.org
John Sinclair, President & CEO
E-mail: john.sinclair@
Dan Goguen, VP Private Markets
E-mail: dan.goguen@vestcorinvestments.
George Long, Senior Portfolio Manager
E-mail: george.long@
http://nbimc.com/en/
The Vestcor Group was created through Province of New Brunswick
legislation in July 2016 (the Vestcor Act). As of October 1, 2016,
the N.B. Investment Management Corporation was continued as Vestcor
Investment Management Corporation, while the operations of the Pension
and Employee Benefits Division of the Province of New Brunswick’s
Department of Human Resources were transferred to Vestcor Pension
Services Corporation. Its team of more than 130 New Brunswick-based
service professionals provides innovative, cost-effective investment
management and pension and benefit administration services solutions
that meet the requirements of approximately 90,000 individual members
and 134 employer groups.
Further information about Vestcor is available online at Vestcor.org.
A copy of the more detailed 2016 Annual Report is available at
Vestcor.org/2016annualreport.
MEDIA CONTACT:
John A. Sinclair
President and Chief Executive Officer
(506) 444-5800
http://nbimc.com/en/
Vestcor Announces Completion of Investment and Administration
Corporation - Announces Positive Financial Results for 2016
Posted: August 22, 2017
The Vestcor Group of Companies (Vestcor) has released its inaugural
Annual Report, including information on its two private not-for-profit
companies, Vestcor Investment Management Corporation (VIMC) and
Vestcor Pension Services Corporation (VPSC).
“Vestcor has been created to deliver a cost efficient, integrated
investment management, pension and benefit service delivery platform
to a number of public sector entities” said John A. Sinclair,
President and Chief Executive Officer of both VIMC and VPSC. “The
success of our cost-effective investment management program, in
combination with our pension and benefit administration services
capabilities will continue to provide exceptional value to our clients
in a challenging environment”.
Located in Fredericton, New Brunswick, Vestcor provides global
investment management services to eight different public sector client
groups representing approximately $16 billion in assets under
management, and administration services to 11 public sector pension
plans and 5 employee benefit plans.
VIMC also announced a 6.16 percent overall investment return for total
assets under management for the year ended December 31, 2016. The
Corporation provides investment management services for the NB Public
Service Pension Plan and New Brunswick Teachers’ Pension Plan as well
as six other public sector clients.
---------- Forwarded message ----------
From: David Amos <motomaniac333@gmail.com&
Date: Wed, 19 Jul 2017 10:49:36 -0400
Subject: Attn Troy Mann and David Barr RE Pensions and CBC and IT
dudes blocking me etc etc I called earlier I truly believe this is you
within CBC
To: Troy.Mann@gnb.ca, "John.Sinclair"<John.Sinclair@nbimc.com&
"blaine.higgs"<blaine.higgs@gnb.ca>, BrianThomasMacdonald
<BrianThomasMacdonald@
<mckeen.randy@gmail.com>
"Davidc.Coon"<Davidc.Coon@gmail.com>, leader
<leader@greenparty.ca>,
"brian.gallant"<brian.gallant@gnb.ca>, pm <pm@pm.gc.ca>,
David.Barr@gnb.ca
Cc: David Amos <david.raymond.amos@gmail.
<Cyril.Theriault@gmail.com&
<Bill.Morneau@canada.ca>
http://www.cbc.ca/news/
Show 52 older replies
David Raymond Amos
Content disabled.
@Troy Mann "You don't so shouldn't the media and the elected officials
get to the bottom of it?"
Hmmm where do I begin. How about CBC's "Fake News" buddies in CNN?
http://www.cnn.com/2017/06/16/
CBC knows for a fact that I crossed paths with the latest US Special
Counsel Robert Mueller and his boyz in the FBI bigtime way back in
2002.
Just Google three names and start reading
Robert Mueller David Amos CBC
I know for a fact that Mueller is a crook and proved it long ago. Why
do you think I sued the Yankee Feds in 2002 and then ran for pubic
office in Canada five times thus far?
If you doubt me then read pages 1 and 2 of this ancient file
https://www.scribd.com/
David Raymond Amos
@Troy Mann Trust that I tried to answer your question
http://www2.gnb.ca/content/
http://www2.gnb.ca/content/
http://www2.gnb.ca/content/
http://www.vestcor.org/en.html
TROY MANN FCGA, FCPA
Chief Executive Officer
Vestcor Pension Services Corporation
Phone : (506) 453-2296
Fax : (506) 457-7388
Email : Troy.Mann@gnb.ca