|Win More State Prevailing Wage Projects|
Currently, 32 states have prevailing wage laws, sometimes referred to as "Little Davis-Bacon Acts". These laws apply to construction contracts awarded by state, city or other local agencies, and their intent is similar to the federal Davis-Bacon Act: to provide payment of locally prevailing wages and benefits to covered laborers or mechanics.
Many contractors pay the fringe benefit portion of the prevailing wage as additional cash wages, believing it's the easiest way to comply with the law. But choosing this alternative costs you money you don't have to pay.
Allocating this amount to a bona fide benefit plan or plans results in significant cost savings. When the fringe portion of the prevailing wage is used to provide benefits for hourly workers, this amount is not subject to payroll costs such as:
With The Contractors Plan from Fringe Benefit Group, you can provide valuable benefits such as retirement, medical, dental, vision and life insurance plans for your employees - and, at the same time reap these benefits for your company: