Pub. 17 2018-2019 Issue 2

N E W J E R S E Y C O A L I T I O N O F A U T O M O T I V E R E T A I L E R S 15 new jersey auto retailer W W W . N J C A R . O R G Use the red key. ® Our end-to-end financing solutions help dealerships grow and customers buy. All credit products are subject to credit approval. Key.com is a federally registered service mark of KeyCorp. ©2017 KeyCorp. KeyBank is Member FDIC. 170912-290440 As a full-service dealer finance company, we understand the challenges you face. Whether for retail or commercial operations, we deliver comprehensive solutions that drive your business forward. Visit key.com/dealer or contact David Stevenson, Commercial Services, at 610-212-4276 or Brian Meierhofer, Retail Services, at 973-222-9474. D.T. MURPHY & CO. 973 809-9311 • dan@dtmurphy.com • www.dtmurphy.com Dan Murphy an Murphy DAN MURPHY MATCHING BUYERSWITH SELLERS SINCE 1989 ~~~ SELLINGYOUR STORE? I HAVETHEWILLING, READY AND ABLE BUYERSYOU’RE LOOKING FOR CONFIDENTIALITY ASSURED. ~~~ WHAT’SYOUR STOREWORTH? MY COMPREHENSIVE BUSINESSVALUATION COMPLIESWITH IRS GUIDELINES FOR ESTATETAX PURPOSES & PARTNERSHIP LITIGATION . . . 973 809-9311 • dan@dtmurphy.com • www.dtmurphy.com Dan Murphy D.T. MURPHY & CO. 973 809-9311 • dan@dtmurphy.com • www.dtmurphy.com Dan Murphy .T. RP Y . 973 809-9311 • dan@dtmurphy.com • www.dtmurphy.com Dan Murphy The only way to know if you are overpaying is to Benchmark your plan. Case Study - As A Plan’s Size Grows, the Fees Should Come Down! We recently reviewed a construction company’s 401(k) plan. We sat down with the Owners, the CFO and the Human Resources Director and talked through what they were looking for. Among other things, we discovered that they had not “benchmarked” their plan in over seven years. They had been paying 2.24% of to- tal plan assets, each year, “all in.” During that time, the company, and their plan’s balances, had grown dramatically. We developed and recommended some plan design improvements and then put the plan out for bid. We received quotes from four major 401(k) Record Keepers. All quotes were significantly lower, ranging, from 1.15% down to .85%, “all in,” per year! Needless to say, the Company was pleased, as the extra savings from lower fees went directly into each participant’s account, including the owners. This move also provided plan compliance support, by documenting the diligent focus of the company to protect the financial interest of its employees. Kevin Ellman, CFP is the CEO of Wealth Preservation Solutions. He can be reached at kellman@wpsllc.net . to arrange for a complete review of the dealership’s current plan and find out how the NJ CAR NADA Retirement Plan Program might be a cost effective alternative. The case study results are for illustrative purposes only and should not be deemed a representation of past or future results. The case study example does not represent any specific product, nor does it reflect sales charges or other expenses that may be required for some investments. The case study is applicable to the company or individuals depicted and may not be repre- sentative of the experience of others. The results are not indicative of future performance or success. This material was created to provide accurate and reliable information on the subjects covered but should not be regarded as a complete analysis of these subjects. It is not intended to provide specific legal, tax or other professional advice. The services of an appropriate professional should be sought regard- ing your individual situation.