A data processing pension plan monitor is directed specifically to the management and controlled access of pension-backed credit. This system permits pension plan participants to establish a line of credit (LOC), based on their vested interest in a sponsored pension plan. This LOC is thereafter systematically applied to a plurality of accounts, each permitted selected credit card and/or check writing privileges.
The present invention balances credit access with long term pension requirements. The charges associated with the credit accessed are paid back to the pensioner, thereby retaining certain tax deferred privileges while permitting access to the accumulated funds.