DOL Troubles: FCE Benefits Administrators, Inc.
Last week we learned of a prevailing wage bona fide benefit plan administrator who has run into trouble with the U.S. Department of Labor.
Prevailing Wage Savings Calculator
During 2014 our clients contributed over $15 million in prevailing wage fringe benefit supplements to our bona fide health & welfare and retirement programs resulting in an estimated $3.75 million in savings.
Variations in State Prevailing Wage Laws & Regulations
Currently, 32 states have prevailing wage type laws and regulations affecting companies that contract directly with the state or local governments for construction or service type contracts.
Caution: Annualization No-No!
In many of our past blog entries as well as our last white paper – Working The Fringe, we have discussed the annualization of fringe benefit supplements in New York and outlined some legitimate strategies for compliance and lessening its economic impact.
Our Latest Whitepaper: “Working the Fringe”
As the leaves turn to fall colors it will soon be time for contractors to start planning for 2016.
There’s Still Time!
As the snow is melting, I’m sure all of the seasonal contractors are gearing up to get back to work!