by Mark Crow, Chair, VBR Pension Reform Task Force and President, Tenth Crow Creative
What if you owed someone a substantial amount of money and were making annual payments each year to pay down the debt. However, every year, year after year, the amount you owe and the annual payments you must make increases – significantly.
Now, what if at the same time, you owed someone a separate substantial amount of money but there was no schedule to pay it back. You were making some intermittent, smaller payments when the lender periodically asked for them, but there was no plan in place to pay off the entire debt. And, like the first debt, each year, the amount you owe increases – significantly. (more…)
