Move Prevailing Wage Dollars Out of Payroll and Reduce Associated Costs
By constructing a bona fide fringe benefit plan, you’ll increase profits. Submit more competitive bids. Build employee loyalty.
DirectAdvisors maintains a thorough understanding of the laws governing prevailing wage in the construction industry.
Find out how DirectAdvisors can help you design and administer a bona fide benefit plan that meets federal and state contract compliance requirements.
Latest From Our Blog
We have been receiving several questions on how to comply with the amended prevailing wage bill that is now law. There are questions that still need to be clarified, however the purpose of the amendment is to have employers provide additional transparency of fringe supplements when workers are on public works jobs. Most of the questions we get relate to: “What do I have to provide to my employees?”
Annualization — If a contractor is doing public work and uses any of the fringe supplements to pay bona fide benefits to their employees, you need to know how to utilize these fringe supplements in a compliant way.
The adoption agreement is your guidebook on the features associated with your retirement plan, and is something you and your administrative team should be very familiar with. It is critical that you follow the rules in your adoption agreement to help ensure the Plan stays compliant.