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:
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Get the most up-to-date prevailing wage and fringe benefit information from our expert benefit plan advisors.
Annualization of fringe Benefits – How to calculate with examples
Annualization is one of the most commonly misunderstood concepts in the Davis Bacon Act (DBA), Service Contract Act (SCA) and state laws. However, knowledge about how annualization works, and how it affects contractors’ financial obligations for bona fide benefit plans, is critical for all businesses engaged in public work. As stated in the U.S. Department […]READ MORE >
Funded vs. Unfunded Prevailing Wage Bona Fide Benefit Plans
All fringe benefit plans fall into two categories, “funded” (29 C.F.R. §§ 5.26-5.27) or “unfunded” (29 C.F.R. § 5.28). Funded plans are those where the contractor’s fringe benefit contributions are made irrevocably (funds cannot revert back to the contractor for any reason) to a trustee or third party (independent) pursuant to a bona fide fringe […]READ MORE >