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Bona Fide Trusts are Ideal Fringe Benefits

Employer contributions to bona fide trusts such as 401(k)s, section 125 cafeteria plans, or health savings accounts (HSA)s can be some of your best options to help you meet fringe benefit requirements when working on government projects. While many employers might...

What you should know about annualization

In an attempt to satisfy fringe benefit requirements for projects that require a prevailing wage, you might begin to offer more generous benefits to your employees. However, it is important to remember the annualization requirement for certain fringe benefit payments....

Fringe Benefits: Workers’ Compensation Premiums

Workers’ compensation (workers’ comp) insurance is an expensive, yet important part of your overall HR compliance requirements. Workers’ comp costs are calculated based on the total pay for an employee — these costs can add up if employees are doing riskier work. The...

Paying fringes in cash can cost thousands

Construction companies are wasting hundreds of thousands of dollars each year by paying fringe benefits in cash. Working on government contracts requires contractors and subcontractors to abide by the Davis Bacon Act, in which companies have to pay a certain...