Our Latest Whitepaper: Harnessing the Power of Supplemental Unemployment Benefit Plans
Supplemental Unemployment Benefit Plans (SUB) can be extremely beneficial for you and your employees. SUB plans provide compensation to employees in addition to state unemployment benefits during periods of layoff, and if designed correctly, are not subject to FICA or FUTA taxes. Pre-funding SUB plans with Davis Bacon or state prevailing wage fringes via a trust fund can provide substantial tax benefits to employers in addition to the FICA savings.
For employees, SUB plans can transform a stressful layoff into a welcome respite, generating peace of mind and employer loyalty.
Although SUB plans can be beneficial for employers in any industry, our latest whitepaper focuses on the construction industry and specifically merit shop construction companies that are subject to prevailing wage rules under the Davis-Bacon Act or state prevailing wage laws.
If you have additional questions please do not hesitate to contact us or download our whitepapers – “Harnessing the Power of Supplemental Unemployment Benefit Plans” and “Working the Fringe.”
Please also view our short animated video, to see how constructing a bona fide fringe benefit plan, can move prevailing wage dollars out of payroll and reduce associated costs. Increase profits. Submit more competitive bids. Build employee loyalty.
How we can help
DirectAdvisors, established in 2001 and located in Albany, New York provides bona fide benefit plan consulting and third party administrative services to merit shop (non-union) construction companies that are subject to the Davis-Bacon Act, Service Contract Act and state prevailing wage regulations. Our clients are located throughout the United States and range in size from 10 to 3,000 employees.
In 2016, our construction company clients will contribute tens of millions of dollars of prevailing wage fringe benefit contributions to The DirectAdvisors Trust (health & welfare benefits) and retirement plans managed by our team.
Our solutions are free from any conflict of interest as we do not sell any financial or insurance products. We work with existing agents, brokers and insurance companies.