Colorado PTAC

Funded vs. Unfunded Fringe Benefit Plans

Get this Wrong and You’re Out of Compliance w/DOL!

July 08, 01:00 PM (13:00) MST
Live Event in Colorado Springs, CO

(Check Registration Info for Location)

  • Does the worry of debarment, suspension, and fines distract you from your business? 
    • Are you losing bids due to high overhead from paying cash in lieu of benefits?
      • Do you struggle to attract new employees without a professionally managed benefits plan?
      • Does the hassle of running your own benefits plan waste precious time? 
        • Do you want to eliminate the risk of managing your own benefits plan? 
          • Would you like more time to focus on your core business?

          Funded vs Unfunded Fringe Benefit Plans

          Funded Fringe Benefit Plans

          Contractors may take credit (without prior approval from DOL) for bona fide FB fund contributions made to third-party trustees or insurers that:

          • Are irrevocably paid; and
          • Are made regularly, not less often than quarterly

          Credit is for payments made for individual workers eligible to participate in the plan, program or fund.

          Unfunded Fringe Benefit Plans

          Costs for an “unfunded” FB plan count towards WHD obligation if specific criteria are met:

          • The contributions reasonably anticipate the cost to provide a bona fide FB;
          • Contributions are made pursuant to an enforceable commmitment;
          • That is carried out under a financially responsible plan; and
          • The plan has been communicated in writing to affected workers
          • The plan has been approved by WHD

          FACILITATORS

          james jordan profile shot

          James F. Jordan

          Co-Founder & CEO
          Archer Jordan

          James Jordan is the Founder and CEO of ArcherJordan, an industry leader in providing professionally managed fringe benefit plans to the government contracting community. Leadership positions at three Fortune 100 companies early in his career, Goldman Sachs, Morgan Stanley, and Merrill Lynch, and multiple successful business ventures, gives James astute insight in analyzing business eco-systems. Recognizing a significant opportunity in re-imagining the creation and delivery of fringe benefit solutions for government contractors, Archer Jordan was born in late 2010, and has brought transparency and excellence to an industry that screamed to be held to a higher standard.

          James is a man of faith, devoted husband, proud father, avid bowhunter, fly-fisherman, horseman, surfer, skier, musician and cook. James’ greatest passion is inspiring others to live the life God created them to live, which he demonstrates not only in his personal and public life, but in the way his team at Archer Jordan support their clients – who view Archer Jordan as a business partner, rather than a vendor. Helping his partners grow their businesses is James’ primary focus.

          Jonathan Veteto

          Executive Director/Program Manager
          Colorado PTAC

          Jonathan Veteto is the Executive Director of Colorado Procurement Technical Assistance Center (PTAC). 

          Mr. Veteto is a Colorado Native with more than 28 years in government contract management. His expertise in military and aerospace high-tech systems and services conveys invaluable insight to businesses. 

          Jonathan’s knowledge and understanding of cradle to grave contract administration in a private sector manufacturing environment enables him to share real life experience to better prepare small businesses for the government market. 

          Mr. Veteto is also familiar with subcontractor and supplier oversight, as well as supply chain development. He has extensive experience with ITAR/DDTC/Export regulations. 

          Jonathan has owned and managed two companies, wearing multiple hats – with his most recent responsibilities being business development/customer capture. He is an active member of multiple professional engineering organizations, and has a passion for growing Colorado businesses.

          Mr. Veteto and his family live in El Paso County, Colorado and enjoy a rural lifestyle.

          The Colorado PTAC (CO-PTAC) is an independent non-profit corporation operating under the Defense Logistics Agency’s PTAP program. Each state has a PTAC program (some have several), with each operating independently, offering different services.

          The CO-PTAC leverages the expertise of a staff of counselors who are all career government contracting professionals, either as the customer (government), or a contractor (business). Our staff has an average of 30 years of experience – and we use that experience to help business owners plan and grow their government customer base. Our staff has a deep and diverse background, from state and local agencies, to federal civilian agencies, and the Department of Defense. Regardless of your business size, we have resources that will help businesses grow.

          Our methodology includes one-on-one business counseling and coaching, individualized and specialized training, classroom training events, and networking opportunities at every level (local/state/federal/military).

          The Colorado PTAC aims to be the best in the country, providing resources, knowledge, and experience that companies won’t find elsewhere, outside of paid specialty consultants.

          Through our co-operative grant with the Defense Logistics Agency and state/corporate support, we provide all of our services at no cost to the business community.

          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.

          Or Call Now 1-855-530-6797

          Avoid Audits, Fines, and/or Debarment

          5-Easy Steps to Fringe Benefit Compliance

          In this guide we’ll show you how to create a fringe benefit plan that secures your business

             
                 
             

          Helpful DOL Resources every contractor should have

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