Aug 2 1990. Saddam invades Kuwait and helps us get a 20 year pension
Posted by Scott Pittaway on August 2, 2022, 21:16:13
After we allowed the county to divest our pension money from Connecticut General, the county removed our money the first of July. CG was paying 3% on our money, while the stock market was averaging 15%. The county promised they could improve our pension if the system had more money and was better funded. The county was still sitting on all our cash when Saddam invaded Kuwait. The stock market tanked. When the market bottomed out that fall the county invested all that cash and made a killing when the market rebounded. The pension plan was now well funded and later negotiations got us our 20 year retirement without penalty. 32 years ago today.
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