Prevailing Wage Fringe Benefit Savings Calculator
When you work with DirectAdvisors, we will help you find savings opportunities that meet prevailing wage requirements for government contractors while offering valuable retirement, health and welfare fringe benefits to your employees.
Enter your information to see how much your company may be able to save:
4 FAQ’s on the New Prevailing Wage Amendment
We have been receiving several questions on how to comply with the amended prevailing wage bill that is now law. There are questions that still need to be clarified, however the purpose of the amendment is to have employers provide additional transparency of fringe supplements when workers are on public works jobs. Most of the questions we get relate to: “What do I have to provide to my employees?”
Here are the main points:
1. It requires all contractors and sub-contractors to provide to their employees WRITTEN notice to all workers on the prevailing wage and the fringe supplement rate for their particular job(s) at the beginning of the job.
2. The hourly prevailing wage and fringe supplements must be listed on each employee’s pay stub.
3. The New York State Department of Labor (NYSDOL) requires contractors and sub-contractors to post the hourly prevailing wage rate and fringe supplement rate on job sites. This posting must be weatherproof and have the number of the regional NYSDOL on it. Workers have the right to call the NYSDOL if they feel that are not paid the appropriate wage/fringe benefit.
4. The required notifications are available on the NYSDOL website, www.labor.ny.gov.
We will continue to update you as we receive additional information.
If you have questions, please feel free to contact us by phone at 518-362-2119 or by email at [email protected]