Contractors that are striving to be more competitive (and more profitable), struggling to deal with ever expanding government regulations, and concerned about their employees long-term financial health and welfare, have options that can address all of these concerns. We can help.
Our clients contribute prevailing wage fringe benefit dollars for their employees to our bona fide benefit trust – The Government Contractors Benefit Trust. The trust provides bona fide benefits such as medical, dental, life and disability insurance, health savings accounts, & more.
Many open shop contractors throughout the U.S. fund supplemental unemployment benefit (SUB) plans to satisfy the fringe benefit obligation of the Davis-Bacon Act. In October 2015 the USDOL gave notice of its intent to rescind the SUB Plans’ annualization exceptions.
All Open 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.
Last week we learned of two prevailing wage bona fide benefit plan administrators who have run into trouble with the U.S. Department of Labor. It’s important to understand the allegations of each because when the plan administrator has compliance problems, those problems usually have
In my last blog post I wrote about why supplemental unemployment benefits are received with such enthusiasm by the workforce. Vacation benefits are also received with enthusiasm, mostly for the same reason – they put cash in the employee’s pocket!
I would like to let you know how happy I am with Direct Retirement Solutions and GCBT. When we first were adopting our prevailing wage plan, I was so nervous about how hard the paperwork process would be. Everything has been broken down and simplified so nicely. Most generally everything has been put in layman’s terms making it easy to understand. I really appreciate all of Kitty’s hard work and quick turnaround with emails and phone calls. She really takes the time to explain information to me that I have questions about.
Vanessa Herbst, Diekow Electric, Inc.
As a very large and diversified construction company with over 3,000 employees, we choose our business partners very carefully. Direct Retirement Solutions has an articulate and intelligent team that is willing to work closely with our employees to make sure they are gaining the most from the program. The principals of the firm are proactive and creative in finding ways to help us save money and bid more competitively. Most importantly, the entire team from top to bottom truly cares about doing a great job."
Rick Emerick, VP Human Resources New Enterprise Stone & Lime Co., Inc.
As far as vendor relationships go, the one I’ve had with Direct Retirement Solutions has been one of the best. The team runs a real standup organization that I would highly recommend in a heartbeat. Jeff and Tom are great guys, and it has been a real pleasure working with everyone there."
Gregory Christofes, Former Payroll Manager New Enterprise Stone & Lime Co., Inc.
The Direct Retirement Solutions team makes it easy. Our employees fully understand their benefits because Direct Retirement Solutions actually talks to our people – anytime, anywhere. We are very satisfied and recommend them without hesitation."
Tony Gorman, Vice President The Gorman Group, Albany NY