By constructing a bona fide fringe benefit plan, you’ll increase profits. Submit more competitive bids. Build employee loyalty.
Direct Advisors maintains a thorough understanding of the laws governing prevailing wage in the construction industry.
Find out how we can help you design and administer a bona fide benefit plan that meets federal and state contract compliance requirements.
Latest From Our Blog
Public Contractors’ Biggest Threat: Annualization! – How to Calculate Annualization and Make it Work for You!
If you are a Public Works contractor and offer a bona fide prevailing wage plan, you are likely familiar with the concept of annualization. The U.S. Department of Labor prevailing wage resource book refers to annualization as: “The computational method that is used to calculate the hourly rate of benefit plan contributions that are creditable to a contractor’s prevailing wage fringe benefit obligation on covered projects.”
By paying prevailing wage fringe benefit dollars into a bona fide benefit plan, those dollars are not subjected to labor burden costs, such as FICA, unemployment taxes, workers compensation and general liability premiums.
Retirement Plan Podcast Series #10 – Hear Ye, Hear Ye: Required Disclosures to be Provided to Participants
There are all sorts of different documents you need to provide, and many of them have different deadlines. We take a look at some of the most important disclosures, their deadlines, who they need to be provided to, and your options for distributing them.