The Davis-Bacon and Related Acts requires contractors and subcontractors to pay prevailing wages on government-funded projects in excess of $2,000. Prevailing wages are a combination of an hourly rate plus an hourly fringe benefit rate. When you add up these two amounts you arrive at the actual hourly cost for each employee on a jobsite.
Prevailing wages and fringe benefit amounts are set by U.S. Department of Labor and published online. In some instances, state prevailing wage rates also apply. Fringe benefits and prevailing wage rates change based on the type of work being done and the skill level of the worker. Adding to the confusion, a single worker may be paid multiple rates each day if they switch roles throughout their shift.
Fringe benefit management
Some companies try to simplify things by paying fringe benefits in cash. While this may make the paperwork easier, it can cost tens of thousands of dollars in overpayment. Fortunately, there is an easier, and more cost-effective way of dealing with fringe benefit requirements.
Our Fringe Saver combines fringe trust management with sophisticated certified payroll reporting technology to help your company save in taxes, workers’ compensation and general liability. Our system helps you determine and claim the correct amount of fringe credits, eliminate fringe overpayment and avoid common errors..
Streamline your fringe benefits workflow
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
Fringe Benefits Reinvented
Using an eBacon Fringe Benefit trust allows you to provide employees with access to benefits and cash.
Easily Withdraw Cash
Cash can be distributed by direct deposit or through a pay card each week!
Available Savings Funds
Employees can choose traditional benefits like health, FSA and 401k but also have a cash option for their fringe benefit.
Benefits Automatically Allocated
Our system helps you determine and claim the correct amount of fringe credits,eliminate fringe overpayment and avoid common errors.
Explore the Fringe Saver today
Want to reduce your fringe payments by an average of 35%?