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Illustration of Employer Savings using eBacon Fringe Saver Trust
|Residential Carpenter:||Example #1||Example #2||Example #3|
||Fringe Paid in Cash (Monthly)||Supplemental Unemployment Trust* (Monthly)||eBacon Fringe Saver Trust* (Monthly)|
|Fringe Benefit Paid to employees per month||$1,789.67||$1,789.67||$1,789.67|
|Employer Payroll Taxes||$136.91||$68.45||$0.00|
|Workers Comp Rate||$143.17||$71.59||$0.00|
|General Liability Rate||$17.90||$8.95||$0.00|
|Total Amount Paid||$2,087.65||$1,938.66||$1,789.67|
|Gross Employer Monthly Savings||$0.00||$148.99||$297.98
|Gross Employer Annual Savings||$0.00||$1,787.88||$3,575.76|
* Assumes 100% fringe benefit is added to the trust
Start saving money today!
How it wors for employers?
You’ll save money and your employees will be happy.
With the Fringe Trust employees can:
- Get their fringe direct deposited or on a pay card each week.
- Take charge of their future by leaving fringe in a 401(k), HSA or FSA.
Have little impact on their net pay when choosing the immediate cash option if you currently pay fringe in all cash.
Information for CPAs
Companies put their fringe benefit payments into our bona fide fringe trust, which is a traditional 401(k) plan. This means that companies using our trust get to use pre-tax dollars to handle their fringe obligations. The savings can be huge, and it’s completely compliant with all applicable laws, including:
- Employee Retirement Income Security Act (ERISA)
- Internal Revenue Service rules and regulations outlined in Section 401(k)
- Davis-Bacon and Related Act regulations
Employees can then choose traditional benefits like health, FSA or a retirement plan or they can have the money distributed via direct deposit or to a pay card each week. IF they withdraw funds, all required taxes are paid at that time and it’s reported to the IRS on a 1099-R, with all required information.
Fringe Benefits Simplified
Save money and give your employees the flexibility they deserve.