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Jared Hamilton
From: Jared Hamilton
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Bryant Gibby

Bryant Gibby Used car manager

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401 K

We have gone without a 401k match here at the dealership since 2008. When the tough times came, that was one of the first things that needed to be cut to keep expenses low.

Now that we are back where we need to be, we are planning on reinstating the 401 k match soon. We used to match up to 2% as long as the employee contributed 4% or more. I'm curious to see what others dealerships out there offer on a 401k match if anything? I would like to see what the standard is in order to make sure we set up something that is fair to the employees.

Let me know what you think...

Larry Doremus Jr.
100% match up to 5%.
Heather Brautman
Bryant, congratulations on being successful enough to be able to extend the match. That's a major perk in today's economy, and I hope - whatever it is - the majority of your employees take advantage of the "free money." Will you institute a waiting period? It's one year before qualifying where I work. That seems to be the norm. Also where I work, the match is on a sliding scale (executives get a higher match than we peons!). I'm just excited to see that this is happening out there, best of luck.

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