As many contractors are wrapping up their work before the bad weather sets in, the time is coming to plan for next year.
Please check out our short animated video which shows how contractors are using the Government Contractors Benefit Trust to move prevailing wage fringe dollars out of payroll and into bona fide benefits to increase profits, win more bids and improve employee morale.
In addition, we’ve also published a whitepaper – “Working the Fringe” – to help merit shop contractors make sense of prevailing wage bona fide fringe benefit plans. This whitepaper provides background and specific examples of how contractors can best leverage the fringe benefit obligation of the prevailing wage law to:
- Bid more competitively
- Avoid unanticipated liabilities
- Provide superior benefit programs compared to those provided by trade unions
Supplemental Unemployment Benefit Plans (SUB) can also be extremely beneficial for you and your employees. Our latest whitepaper – “Harnessing the Power of Supplemental Unemployment Benefit Plans” – focuses on SUB plans for the construction industry and specifically open shop (merit shop) construction companies that are subject to prevailing wage rules under the Davis-Bacon Act or state prevailing wage laws.
How we can help
Direct Retirement Solutions, established in 2001 and located in Albany, New York provides bona fide benefit plan consulting and third party administrative services to open shop (non-union) construction companies that are subject to the Davis-Bacon Act, Service Contract Act and state prevailing wage regulations. Our clients are located throughout the United States and range in size from 10 to 3,000 employees.
In 2017, our construction company clients will contribute tens of millions of dollars of prevailing wage fringe benefit contributions to The Government Contractors Benefit Trust (health & welfare benefits) and retirement plans managed by our team.
Our solutions are free from any conflict of interest as we do not sell any financial or insurance products. We work with existing agents, brokers and insurance companies.