[Fredslist] Credit Help for a Client and Some Pension Advice for All

[Planman201 at aol.com]

Hello Gotham:

I have a client that is facing a frustrating situation  and has asked me for 
help. here is his plight:

He pays his bills on  time in full. Has never missed a payment and never a 
late payment. His  credit is very good but NOT excellent (720 score). This is 
coming back to hurt  him not with acquiring credit but not being able to have an 
"excellent"  rating.He has been to the credit bureaus and it's become a 
revolving door for he  and his wife.

I know there are professionals out there who address these  issues. Does 
anyone know someone who does this professionally.  I would  like to help this 
client and I believe this type of problem will be more  prevalent as the passes.

Please advise.

Thanks in  advance.

PS - IMPORTANT FOR ALL - Pension Protection Act  (PPA) is requiring ALL 
retirement plans MUST BE RESTATED pursuant to Post  ETGTRA terms of PPA. Now is the 
time for you to take a long hard look  at all of your retirement plan 
designs, documents and  investments. Everything is changing this and next year for 
the retirement  world and although there are fantastic opportunities there are 
also unknown  minefields out there. Uncle Sam is looking for non-reformed plans 
more than ever  and unfortunately, many of the mediocre third party 
administrators are not  attending to these issues properly. 

Many defined benefit plans are under  funded which creates a problem for 
those plans - they will need adjustments and  restating and now MUST address the 
Pension Benefit Guarantee Association with  increased PBGA premiums. Most 
defined contribution plans (401k, profit sharing  plans, SEPs, etc.) are some 30% 
to 40% lower in value than this time last year.  These plans usually cannot be 
reformulated but face potentially serious  fiduciary breaches by the plan 
sponsors/administrators who are almost always the  employers. ERISA lawsuits are 
on the rise and employers MUST find ways to  mitigate this problem for 
themselves as fiduciaries and their  employees.

We at AFG have found this to be the case with nearly a dozen  and a half of 
the plans we took over last fall. Take heed and take caution, my  friends. 
Aside from a bad economy, we are facing tenuous times in the planning  world with 
the government's need for  revenue.

Regards,


Richard A.  Pope CAP, RFC
Financial Advisor
President/CEO
516 677-6212 phone
516  677-6858 fax

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