Prevailing Wage Audits: What’s Your Strategy?
As we dive head first into summer, the construction season is well underway.
Bona Fide Fringe Benefits: Tough Choices
I spend a substantial amount of my time each week talking with prospective new construction company clients about fringe benefit plans.
Would your employees like to receive double unemployment benefits and fully paid uninterrupted medical insurance during the seasonal layoff?
As we enter into February most of us are growing tired of the long dark nights and the cold weather. Most of our clients, at least the ones that work outside, will remain shut-down for the next two months.
Annualization Issues Threaten Some Supplemental Unemployment Benefit Plans
Many merit shop contractors throughout the United States fund supplemental unemployment benefit (SUB) plans to satisfy the fringe benefit obligation of the Davis-Bacon Act.
Utilize Prevailing Fringe Benefit Contributions to Satisfy Government Mandates
Federal and state governments often require employers to provide certain benefits to employees. President Obama signed his latest executive order on Labor Day, which extends the number of paid sick days mandated for federal contractors.
Apprentice & Safety Training Benefits
Apprentice training and safety training are considered bona fide fringe benefits and therefore can be paid for with prevailing wage fringe benefit contributions.
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!
What Is a “Bona Fide” Fringe Benefit?
We write and speak extensively to contractors about providing “bona fide” benefits to employees. Someone recently asked me what “bona fide” means. I guess sometimes we get ahead of ourselves and neglect to cover the basics!
What your Workers Need to Know About Prevailing Wage Benefit Plans
One of the biggest objections we face from merit shop contractors when introducing the idea of a bona fide prevailing wage benefit plan is that workers will quit or try to unionize once they no longer receive their fringe supplements in their paychecks.
Bona Fide Fringe Benefits: When Flexibility Makes all the Difference
All merit shop construction companies working on projects for federal, state or municipal governments have to make decisions on how to satisfy the fringe supplement portion of the prevailing wage law.
Using Fringe Dollars to Neutralize Obamacare
As I’m sure you are aware, the Affordable Care Act (ACA) is rolling full steam ahead in 2015.
Trust Direct Advisors for Seasonal Layoff Security
As I drove to the office this morning the temperature on my dashboard read -6 degrees. Most of our clients, at least the ones who work outside, are shut down for the next few months.
