Are You Ready for An Audit?

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News that economic stimulus package funds are beginning to flow through the states, resulting in bid opportunities and potential jobs for government contractors, is welcome in an otherwise flat construction market. It’s crucial, however, that contractors who intend to bid on and perform public works projects partner with a company that understands the economic stimulus plan (American Recovery & Reinvestment Act of 2009—ARRA) and can provide assistance with compliance on both the state and federal levels. One word sure to strike fear in anyone’s heart is “audit.”

Putting Fringe To Work on Prevailing Wage Jobs

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Allocating the benefit portion of the prevailing wage to a bona fide benefit plan works to a contractor’s advantage.

Although many contractors see the jobs promised by the American Recovery and Reinvestment Act as a lifeboat in stormy economic seas, the thought of sailing in uncharted waters may deter some construction business owners from entering the prevailing wage marketplace.

Implement a Prevailing Wage Retirement Plan

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Link to article: Here

Company owners are often frustrated over their inability to use a 401(k) to save money for retirement. Generally speaking, IRS regulations limit owners and other highly compensated employees to contributing a maximum of 2 percent more than the average contributed by all non-highly compensated employees* and if hourly employees are contributing nothing, well, the math isn’t hard to do.

Associated General Contractors of Missouri Recommends Thomas McGee and The Contractors Plan

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Kansas City, MO – August 24, 2009 – Thomas McGee, L.C., a Missouri risk management consultant/broker, today announced it has been recommended by the Associated General Contractors of Missouri (“AGC-MO”) to offer The Contractors Plan^sm bona fide benefit plan to AGC-MO members working on Davis-Bacon jobs, including projects being created by the economic stimulus package (American Recovery and Reinvestment Act of 2009 – “ARRA”). Through The Contractors Plan powered by Fringe Benefit Group, Thomas McGee’s associates are able to offer retirement plans and major medical, dental, vision and life insurance to contractors bidding and working on Davis-Bacon Act jobs.

ABC Members to Receive Support for Stimulus-Funded Construction Projects from Fringe Benefit Group

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Retirement Plan Provider to Offer Exclusive Discounts to ABC Member Firms

WASHINGTON, D.C. – Associated Builders and Contractors (ABC) and Fringe Benefit Group (FBG) today announced that ABC has selected FBG to participate in its ABC Business Partner program. FBG will offer its retirement product, The Contractors Plan, to ABC membercontractors, helping them to compete for the more than $140 billion in new governmentconstruction projects created by the economic stimulus package.

Reach for Your Dream, Summer 2009

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A Strategy for All Seasons

How to create a portfolio you can live with
Market volatility can make your stomach drop along with your returns. But it’s much nicer
to feel confidence rather than angst when you consider your retirement plan. Taking a close look at your tolerance for risk and tailoring your portfolio to match can help you rest easy when the market is jumpy.

Economic Stimulus Package (ARRA) Providing Opportunity for Government Contractors

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Austin, July 23, 2009 – The American Recovery and Reinvestment Act of 2009 (ARRA) is a bright spot in what has been a gloomy construction forecast for U.S. contractors. Contractors are registering to bid on ARRA jobs in record numbers, which means competition is fierce, and state and federal agencies are intensifying compliance efforts to ensure that the economic stimulus package monies are spent properly. The Contractors Plan (www.thecontractorsplan.com), powered by Fringe Benefit Group (www.fringebenefitgroup.com) is available to help government contractors stay compliant with government regulations and bid more competitively while providing quality benefits to their employees.

Fringe Benefit Group Launches New Web Sites Providing Educational Resources for Government Contractors Bidding on Economic Stimulus Projects

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Austin, June 30, 2009 – Fringe Benefit Group, an industry leader in group benefit plans designed specifically for hourly and part-time workers, today announced the launch of its new Web sites (www.fringebenefitgroup.com and www.thecontractorsplan.com). The completely redesigned Web sites are designed to serve as educational resources for insurance agents and government contractors, especially the companies bidding on the additional supply of prevailing wage jobs created by the American Recovery and Reinvestment Act of 2009 (ARRA).

Federal Stimulus Package Will Provide Opportunity For Construction Industry

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News of the faltering U.S. economy is everywhere and creating concern and fear for many Americans and businesses alike. Employment in construction has fallen by 899,000 jobs since its peak in September of 2006, according to the Bureau of Labor Statistics. This is just some of the troubling news, combined with the mortgage crisis that has had a significant impact on many industries, including construction.

The High Cost of No Benefits

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“I don’t understand why any open-shop contractor who does prevailing wage work would NOT have a fringe benefit plan in place. It just doesn’t make good business sense.”

Bonding agent Joe Weber of John O. Bronson in Sacramento, CA, admits he is “passionate” about making sure open-shop contractors understand the importance of having a benefit package in place for their employees. “I’ve been in the surety bond business for thirty-five years,” he continues, “I’ve seen the positive effects over and over again. I tell my contractors, ‘Every dollar saved flows right to your bottom-line.’”