When it comes to winning prevailing wage contracts, compliance with government regulations is just as important as the quality of your work. In this ever-changing landscape of local, state and federal laws, having an experienced partner is vital.
For 40 years, The Contractors Plan has been helping contractors submit leaner bids to win more jobs. We're in regular contact with officials at the Department of Labor and the IRS, we monitor developments at the state level, and we send clients quarterly updates on the issues and trends that affect their business.
Federal, state and local mandates set an hourly wage plus a cash-equivalent value of benefits. Paying that fringe portion as cash inflates bids and payroll taxes.
Federal construction contracts over $2,000 require locally prevailing wages and the anticipated cost of prevailing benefits, often based on a union scale.
Service work on prime government contracts over $2,500 carries DOL wage determinations, including successorship to a prior collective bargaining agreement.
Roughly 125 municipalities set their own wage and benefit rules, and the benefit requirements vary widely from one to the next.
Thirty-two states have their own laws, sometimes called "Little Davis-Bacon Acts," with dollar thresholds ranging from none at all to $500,000.
Required participant disclosures, annual reporting and fiduciary protection for your retirement and health plans, including Form 5500 preparation.
Annual coverage and discrimination testing for retirement plans, run for every client with those plans.
In an IRS or DOL inquiry the burden of proof is on the contractor. We pull the records, draft the response and can speak to the auditor on your behalf.
Our interactive map links you straight to each state's Department of Labor contacts, thresholds and wage determinations.