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
Creative Plan Design Can Eliminate Annualization Requirements
All Merit shop construction companies working on projects covered by the Davis-Bacon Act or state prevailing wage laws have to make decisions on how to satisfy the fringe benefit portion of the prevailing wage law.
Case Study – An Easy Win-Win for Employer and Employees
In New York, the prevailing wage and fringe benefit rate must be paid on all public work hours. Contractors may satisfy the fringe benefit portion of the prevailing wage by either paying the prevailing benefit rate as additional cash wages, or by providing bona fide benefits that at least equal the rate.
Prevailing Wage Expansion in New York
The New York State legislature is poised to pass a comprehensive revision of the prevailing wage law, extending prevailing wage requirements to a far wider scope of work than ever before. An interesting article covering this can be found in the Albany Times Union here.
