Competition for prevailing wage jobs is fierce, and one of the greatest challenges for open shop government contractors is managing the paperwork around compliance, healthcare reform, fringe benefits and taxes. From Davis-Bacon and local prevailing wage laws to the ACA, the rules and regulations are numerous and constantly changing. Compliance can involve hours of time.
This is where Piedmont Group can help:
As an Employee Benefits Firm, we offer a complete solution for prevailing wage workers. We offer years of experience analyzing government contractors’ needs, creating and implementing customized retirement and health plans. As prevailing wage experts, we are dedicated to helping you succeed.
Submit leaner bids.
Some contractors choose to pay the fringe benefit portion of the prevailing wage as additional cash wages. However, allocating the fringe amount to a bona fide benefits plan can result in significant savings in payroll taxes and workers compensation insurance. These efficiencies can be the difference between winning and losing government contracts.
We help construction contractors:
- Stay compliant with government regulations such as the Davis Bacon Act (federal & state levels), local wage ordinances, ERISA and the Affordable Care Act
- Pay the fringe as bona fide benefits to cut payroll tax burden
- Maximize owner contributions to retirement accounts
- Offer quality health, dental, vision and life insurance benefits