What Every Davis Bacon Contractor Needs to Know About Fringe Rates and Benefits
Let us help you secure contract compliance and avoid fines while increasing your net revenue and bid competitiveness.
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Six Important Facts about Fringe Rates and the Davis Bacon & Related Acts
- For DBRA Contracts, the fringe rate varies from state to state and is based on employee role. The math is simple, fringe rate + cash = prevailing wage.
- On average, contractors who pay the fringe rate as benefits save 25% in reduced taxes over contractors who pay the fringe rate in cash.
- You do NOT need DOL approval to implement a funded, bona-fide fringe benefit plan to any of your new or existing contracts.
- When evaluating bids, the SBA, the GSA and other agencies often take into consideration whether or not your company provides it’s workers with a comprehensive fringe benefits plan.
- With Archer Jordan, there is zero monthly cost to your company in providing a fringe benefit plan. (There is also zero headache. We take care of the set-up, record keeping and plan administration for you.)
- Offering retirement, health and wellness benefits has been proven to help companies attract and retain better talent.
Protect your contracts and secure your future.
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Unassailable Regulatory Compliance. Unmatched Savings.
Utilizing a trust arrangement is the foundation of prevailing wage compliance, according to the U.S. Department Of Labor, Code of Federal Regulations
29 C.F.R. §§ 5.26-5.27. “The contractor’s fringe benefit contributions made irrevocably to a trustee or third party pursuant to a bona fide fringe benefit fund, plan or program can be credited towards meeting the prevailing wage requirement without prior DOL approval. For example: Contractor pays a third-party provider for health insurance monthly premiums. Contractor makes quarterly contributions to retirement plan trust.”
Archer Jordan meets the challenge of ensuring regulatory compliance and maximum cost savings through our flagship program Arrow Contractors Trust, or “Arrow” as we call it. Our Archer Jordan Family of Products and Services are designed to meet the demanding needs of our largest and busiest contractor partners.
GAIN PEACE OF MIND
Your new fringe benefit plan will meet all state and federal compliance standards, eliminating stress while keeping your company and contracts secure.
LEAD YOUR INDUSTRY
Your employees deserve a professionally managed plan. Strengthen client and employee relationships, while watching your reputation grow.
INCREASE PROFITS
Contributions for fringe benefits are not subject to payroll taxes and increased insurance premiums, decreasing costs, and putting money back in your pocket.
SECURE CONTRACT COMPLIANCE
Your new Arrow Contractor’s Trust Plan provides unassailable, regulatory compliance—addressing 100% of all prevailing wage, federal and state regulations.
SHARPEN YOUR BIDS
We’ll help decrease your payroll overhead, making your bids significantly more competitive.
ATTRACT AND RETAIN TOP TALENT
Top talent both deserve and expect top benefits. The combination of our ArrowCare Fringe Benefits Plan and ArrowSave 401k Plan attracts new talent while fostering employee loyalty.
We help simplify the complicated process involved in complying with the Davis-Bacon Act, the McNamara-O’Hara Service Contract Act, along with a host of other federal and state laws, so you can put your focus back on what matters, running your business
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Professionally Managed, Powerfully Accessible
Imagine having all of your company’s fringe benefit and financial reporting organized and made available to you with full transparency—in one elegant dashboard. When you hire Archer Jordan to build and administer your fringe benefit plan, we do just that. We take care of managing health and welfare vendors, optimizing retirement investment performance, providing employees with benefit access and eligibility information, and that’s just the beginning.
Our proprietary software tracks and stores your monthly data with bank-grade encryption, ensuring compliance and securing you against audits or baseless attacks. It’s a powerful tool designed to give industry leaders peace of mind and a winning advantage.
3 EASY STEPS
CONSULT WITH US
During our first call together, we’ll find out what you’re doing now and what’s not working.
BUILD YOUR PLAN
Together we’ll identify the perfect solution for your company—relieving stress and increasing profitability.
SECURE YOUR COMPANY
Feel confident in your position as an industry leader with your professionally managed benefits plan.
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WHY ARCHER JORDAN?
We Understand
At Archer Jordan, we understand how daunting it can be to manage the lifecycle of a government contract while navigating prevailing wage regulations. The bureaucracy involved sucks up your time, forcing you to jump through hoops, and the business risk is high.
You need a plan of action to keep you safe. We’ll design a benefits package that covers all the bases, and administer it for you, so you can get back to running your business.
We Can Help
Your new benefits plan will be carefully crafted to satisfy any current or future contract guidelines while maintaining strict regulatory compliance. We’ve provided hundreds of companies like yours, with thousands of employees—millions in savings. We make the process simple so you have one less thing to worry about.
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Book a Free 30 Minute Consultation
Let us help you protect your company, win more bids and maximize your bottom line.