Fringe Benefits Trust
DirectAdvisors sponsors and administers The DirectAdvisors Trust, which is specially designed to serve construction companies engaged in public works.
We do not sell insurance or financial products. We work with your desired or existing benefit providers to maximize savings, ensure compliance with laws and contract terms and offer your employees tailored, valuable benefits, which may include:
- Medical, dental, vision, life and disability insurance
- Health savings accounts (HSA)
- Vacation and holiday pay (paid time off)
- Safety and apprentice training reimbursement
- Supplemental unemployment benefits
- Retirement plans
- Benefit funding during layoffs
Your company makes fringe benefit contributions to the Trust. We credit each of your employees’ individual accounts accordingly. Both you and your employees have access to our online portal and to regular statements to stay informed about contribution, payment and account status.
Our team stands behind our work.
We promise clear communication, easy access to real-time results and you-first responsiveness. Most importantly, we ensure the protection of your hard-earned dollars. DirectAdvisors offers you the safety and security of:
An independent trustee. The Chemung Canal Trust Companyvis a $1.5 billion financial services holding company and commercial bank.
Bonding against employee dishonesty and ERISA fiduciary dishonesty.
Professional liability insurance for plan administration and investment advisory.
Government oversight of bona fide benefit plans (by the U.S. Department of Labor) and the trustee (by the NYS Department of Financial Services and federal banking regulators).
Continuous training for all members of our trust services team, as well as the review of all work products and the documentation of all procedures and operations.
Our Trust Earns Your Trust
Our team stands behind our work. We promise clear communication, easy access to real-time results and you-first responsiveness. Most importantly, we ensure the protection of your hard-earned dollars. DirectAdvisors offers you the safety and security of:
An independent trustee. The Chemung Canal Trust Companyvis a $1.5 billion financial services holding company and commercial bank.
Bonding against employee dishonesty and ERISA fiduciary dishonesty.
Professional liability insurance for plan administration and investment advisory.
Government oversight of bona fide benefit plans (by the U.S. Department of Labor) and the trustee (by the NYS Department of Financial Services and federal banking regulators).
Continuous training for all members of our trust services team, as well as the review of all work products and the documentation of all procedures and operations.
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When contractors choose to pay the fringe benefit requirement as additional cash wages they are increasing their cost for payroll tax, workers compensation premiums and possibly liability insurance premiums. These additional payroll related burdens have an enormous effect on bottom line profits.
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The Austin, Texas based Fringe Benefit Group (also known as The Contractors Plan), a pension and welfare benefit plan administrator has been named in a class action suit for charging “sky-high” and “grossly excessive” direct and indirect fees for their administrative services.
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We field many calls each week about Supplemental Unemployment Benefit (SUB) Plans. The following five are the most common.
