Frequently Asked Questions
We’ve assembled answers to our most-asked questions here. If you have specific questions about your company’s prevailing wage and benefit plan options, request a free assessment now.
What is annualization?
What time period is used for annualization?
How can I provide the required hourly fringe amounts listed in the wage schedule to my employee?
- As cash in the employee’s weekly paycheck when working on a public work project; or
- As a contribution to a bona fide benefit plan on behalf of the employee.
- • If you choose this option but do not make the contributions on an hourly basis for all hours worked (public and private), then you must determine (annualize) the hourly cash credit the employer receives for fringe contributions. Once that credit is determined, you must make up any deficiency between the required fringe amount and the hourly credit amount on a weekly basis along with employee’s wages.
- • If you make contributions for all hours worked (public and private), and they are at least the amount shown in the wage schedule, you’ve met the requirements of the law.