Opportunities Abound Now That Infrastructure Bill Becomes Law
On November 5, the House of Representatives voted and passed the long awaited bipartisan $1.2 trillion public works bill and 10 days later, on November 15, President Biden signed it into law. Massive infusions of spending on roads, bridges, public transit systems,...
Compliance Concerns: The Price for Entry to Bid on Infrastructure Act Projects
On August 10, 2021 the United States Senate voted to approve a $1 trillion infrastructure bill to rebuild the nation’s roads, bridges, public transit systems, airports, power and water systems, and other projects. Assuming passage by the House is forthcoming, the bill...
Public Contractors’ Biggest Threat: Annualization! – How to Calculate Annualization and Make it Work for You!
If you are a Public Works contractor and offer a bona fide prevailing wage plan, you are likely familiar with the concept of annualization. The U.S. Department of Labor prevailing wage resource book refers to annualization as: “The computational method that is used to calculate the hourly rate of benefit plan contributions that are creditable to a contractor’s prevailing wage fringe benefit obligation on covered projects.”
DirectAdvisors Podcast #4 – Annualization: What an Employee Should Know
Annualization — If a contractor is doing public work and uses any of the fringe supplements to pay bona fide benefits to their employees, you need to know how to utilize these fringe supplements in a compliant way.
