Fringe Benefit SolutionsA configurable mix of retirement, tax reduced spending and available cash
A fringe benefit service that gives your employees flexibility and saves your business money.
Fringe Benefit Administration
We provide a comprehensive fringe benefit administration service that is seamlessly integrated into our robust time tracking, payroll, and compliance application.
Our system also handles fringe benefit allocations for each of your employees, which limits the need for your involvement with distributing the correct fringes.
A Configurable Set of Funds
Have a tax advantageous mix of funds that saves your business and employees money. We establish funds that allows employees to save for retirement, health expenses, college, and helps them meet other financial goals.
These types of savings programs can help you recruit and retain a highly skilled workforce for your business.
Easily Withdraw Cash
Employees will have full access to their fringe benefits through our online portal, allowing them to request a paycard or direct deposit if they don’t wish to allocate into tax advantageous funds.
Available Savings Funds
A diverse selection of funds available to your employees to save for things that matter to them without having to pay taxes on the money when it is used for the tax free purpose.
Benefits Automatically Allocated
Save significant time and money, our system automatically allocates the correct fringe rates based on the classification and location of the project.
The system automatically calculates the correct fringe benefits based on applicable local and federal regulations. You can have piece of mind that employees are being paid correctly.
- Easily and automatically stay compliant with
applicable local and federal fringe laws
- Create reports showing fringe benefits compliance
- Reports are ready whenever an audit comes up
Will my employees still be able to withdraw fringes in cash?
Yes, if an employee elects not to allocate their fringes into different funds, they will receive the fringe portion as a separate check (minus required taxes). By implementing our fringe management service, your employees will have greater flexibility to save for the future or access cash as needed.
What types of savings funds will be available to my employees?
- FSA or HSA (depending on medical plan)
- Dependent Care (DCA)
- Parking & Mass-Transit Commute
- Deduction Reserve Account
- College or First-Time Home purchase
- 401(k) Retirement Investment
How will my business benefit from implementing the trust?
By properly allocating fringes, your business will benefit from having a reduced tax liability and reduce workers’ compensation costs.
Our system also automatically assigns the correct and exact fringes for the jobs worked, so you can have peace of mind that employees are paid correctly. As a business, you can expect significant savings on payroll taxes and workers’ compensation premiums.
How will my employees be able to see their benefits allocations?
Our fringe benefits management system is integrated directly into eBacon, so in addition to using eBacon’s self-service system for time tracking, PTO request, employees are able to manage their fringe benefit allocations.
They will be able to request a cash withdraw or reimburse for tax free spending on medical, dental, dependent care, mass-transit, parking, college or first-time home buying.