Originally Posted by redsmetz
I think that the way the Lindner regime handled the deferred payments throughout Griffey's time here is part of what hamstrung the budget these last eight years. As I've understood it, they've charged the entire amount of the contract to each year's budget. It's all accounted for. I'm not a financial wiz, but it always surprised me particularly with Lindner's background in insurance, you would think that they could have purchased some annuities at a lower cost for when the deferred money became due.
That's what they should of done but I think for a number of purposes they accrued the entire expense of Junior's salary in each year. Given the nature of the contract - set times, set rates of interst and set deferals it would have been easy to write an annuity which covered the deferred payments.