“The Contractors Plan has been beneficial to both our employees and our company’s bottom line. It provides our employees a retirement savings plan they likely wouldn’t otherwise have, makes our bids more competitive, and decreases our overhead costs. Many of our employees have over $100,000 in their retirement accounts now.

The team at The Contractors Plan is outstanding. They answer our employees’ questions and come to the office to talk to our people about retirement. The plan was easy to implement and there have been substantial tax benefits for our company.” Read Less

“Our employees are like family to us and we want to take care of them, including helping them put money away for their retirement. With The Contractors Plan, they put the fringe portion from prevailing wage jobs into a retirement plan. At the end of the first year, some employees had more than $35,000 in their retirement accounts.

The plan was easy to implement and there have been substantial tax benefits for our company. Company officers have also been able to put more towards our retirement accounts, but the most important thing is how it’s benefited our employees.” Read Less

Which is why he was shocked back in 2008 when he realized how little his employees were putting aside for retirement. "I showed up at a job site one day and one of our guys was driving a fancy new truck — and he'd recently been driving a small economy car. I realized he was spending everything he was making — and there was something I could do to help him and all of our employees like him."

"We weren't doing our employees any favors," Mike stated. "They weren't putting anything away towards retirement. They were becoming accustomed to excessive compensation during peak road construction season and couldn't adjust to the difference in pay between public and private work. When we started putting the fringe portion of the prevailing wage into a retirement plan for them, the employees' initial reaction was "you're taking money from us." But they quickly started seeing the balances in their retirement plans grow — and the amounts grew handsomely because many of the employees have long tenure."

Mike continued, "Plus, every penny counts when you are bidding on government work, and anything we can do to save money on road construction projects — like lower payroll taxes and workers compensation taxes — is extremely important to us because the lowest bidder wins. When I think of The Contractors Plan, ease of use is the first thing that comes to mind. The collective team at Fringe Benefit Group does a nice job of doing most of the work for us. We've grown very fast and we need a partner who makes things easy for us. Fringe Benefit Group does prevailing wage benefits very well and makes it extremely easy for their customers. It would be foolish for us to do it any other way."

Compliance support was another aspect of The Contractors Plan that mattered to Flagger Force. "We're a big company and we are very visible. We've been audited by the DOL on several occasions — and we can always provide the necessary back-up and documentation because of Fringe Benefit Group," said Mike. "If someone is paying the fringe as cash they are doing a disservice to their employees. The average construction employee is not disciplined enough to save towards their retirement. The Contractors Plan does a great job educating and helping people understand what they need to do to save - - and they make it very easy on the employer as well." Read Less

"The Contractors Plan is so easy to use and the team at Fringe Benefit Group makes everything seamless for us. Our year end is June 30th and I don't have to do anything. Fringe Benefit Group sends me all the completed spreadsheets and information I need, so I simply fill in our company information and get everything submitted."

"When I need to post a notice to our employees, The Contractors Plan sends me what I need and tells me to "send this out." It couldn't be any easier — and our employees are fans as well. We only had one situation where our census didn't match their records — and it turns out that one of our employees had entered our information incorrectly. Fortunately Fringe Benefit Group had the correct information — and that's just one example of why we've been with them for so long." Read Less

— Linda May, Controller, C.W.Roen Construction Company

"I'm happy and proud that we are doing this for our employees — helping them save and put something away towards their retirement — and I'm also very pleased with the savings we've experienced as a result of implementing The Contractors Plan. Combined with their excellent customer service, it's a win-win situation. The team at The Contractors Plan helps me with forms and notifies me of upcoming deadlines. They really stay on top of things for me! Any questions I've had they've been able to answer, and I am confident that they will assist me in the case of an audit." Read Less

— Cindy Pitts, F&P Construction

"I've been able to bid on a job lighter and come out just fine because I've been able to cut payroll taxes and save thousands on general liability. My cash flow has improved — and my workers comp has gone down significantly. The cost reductions / savings also kept two of our jobs out of the red — it made the difference between a job being minimally profitable and being a loss.

When we started using The Contractors Plan, at first my people were not enthusiastic about putting the fringe into a retirement account. Now some of them have up to $20,000 in their retirement plans (after just a year of contributions) and they are delighted with the results. My employees are able to choose which retirement plan they prefer — and it hasn't been any additional work for my HR person. It takes her less than one hour to send all of their info to The Contractors Plan because it's been easily rolled into our payroll processing. My advice to other contractors? If you're looking to save money and you work on prevailing wage jobs, then go with The Contractors Plan!" Read Less

— Steve Benefito, Owner, New England Drywall

"First, I wanted to help my employees provide for their future and although there were quite a few dissenters at first, it's a whole different story now. Initially they weren't happy but after two years, they were telling me how much they love it and I've been astonished by the amount of money they've saved. Secondly, I was looking to save money on FICA and workers compensation — and I've certainly seen the results. The staff at Fringe Benefit Group in Austin is easy to work with and the many of my employees take advantage of mycontractorsplan.com to check out their balances and update their information.

I've got 50 employees servicing four areas in upstate New York. We pick up mail at distribution centers and deliver it to about 150 post offices in this area — I don't have time to spend hours on plan administration, and Fringe Benefit Group/The Contractors Plan have made it painless for me. My employees are happy, I'm saving money, and Fringe Benefit Group makes it easy — it's a win-win combination!" Read Less

— Dick Salanger, Salanger Trucking

"I've been working with them for 15 years and in my opinion, they have always put the needs of the client first. I've chosen The Contractors Plan for 100% of my clients, all of which are prevailing wage contractors. There are similar products available in the marketplace, but what distinguishes Fringe Benefit Group is the customer support they provide to my clients. Problems arise frequently in our industry - and when a contractor faces a DOL audit, for example, they realize they've truly made the right choice. Fringe Benefit Group holds the client's hand, guides them and fights for them. I personally have clients who thought they had found a better deal elsewhere - and who quickly came running to The Contractors Plan after going through an audit situation. The people at The Contractors Plan are experts at what they do." Read Less

— Chris Nesbitt, Producer

E&R is a glass contractor and approximately 97% of its business is public works jobs — they install large glass storefronts and many of their customers are schools and universities.

"A company couldn't ask for better service — The Contractors Plan has some of the best people working for them that I know. Everyone is always so friendly and cheerful too, and that includes every single person I have had the opportunity to work with for the past several years. We recently celebrated our six year anniversary with The Contractors Plan, and I'm happy to say it's been an AWESOME relationship. Nearly all of our jobs are closed bids, and I know The Contractors Plan makes us more competitive."

"From the very beginning, when The Contractors Plan set up our account, they helped me develop a schedule and prepare the necessary spreadsheets. No other company would have helped me like they do. I really trust them — anything I've ever needed, even if it remotely relates to their plan, they help me in no time at all." Read Less

— Teresa Corrente-Elmassian, Office Manager, E&R Glass Contractors, Inc.