Fringe Benefit Trust
Davis-Bacon Fringe Benefit Trust
DirectAdvisors sponsors and administers The DirectAdvisors Trust, which is specially designed to help construction companies engaged in public works.
We custom design each client’s plan to maximize savings, ensure compliance, and provide flexible tailored benefits to your employees. We do not sell insurance or financial products, and we work with your existing insurance coverages and brokers. Benefit offerings can 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 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 Company is 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 services.
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.
Latest From Our Blog
The DirectAdvisors Trust
The experts at DirectAdvisors can help you design and coordinate a custom bona fide benefit plan solution that is right for your company, and that integrates with your existing benefit plans, insurance carriers, and brokers. Your plan can be designed in a way that relieves much of the burden and expense of government mandates.
DirectAdvisors ‘Gives Thanks’ by Giving Back
DirectAdvisors has teamed up with CAPTAIN Community Human Services to give back to our local community. Each year, CAPTAIN distributes Thanksgiving Baskets to families in need, with everything needed for a traditional Thanksgiving dinner. The DirectAdvisors Team is honored to be able to donate a basket, including a $200 gift card to help make a local family’s Thanksgiving truly special.
DirectAdvisors – Nyhart Video Podcast: Cash Balance Plans
DirectAdvisors was pleased to welcome two guests to our latest installment of our video podcast series. Mike Kiley (Consultant and Relationship Manager) and Karl Willman (Principal/Director of Midwest Small Defined Benefit Operations) of Nyhart joined Stacy Gregory, plan advisor from DirectAdvisors, in a discussion on Cash Balance Plans. Utilizing prevailing wage dollars in a Cash Balance Pension Plan offers various benefits for both employers and their employees. From tax benefits to employee retention, our panelists discussed how this type of plan works, and the advantages of implementing it alongside a defined contribution plan.
