Why Use a Trust
You’re doing Prevailing wage work. You just pay your mandated fringe supplements in cash. You’re in compliance. So why use a trust? It’s simple: to help your company and your employees. For employers, every fringe supplement dollar in your paycheck costs you payroll burden. Workers comp, FICA tax, liability insurance can be costly adding from 15% to 50% cost to every fringe supplement dollar provided on your payroll. Think about what that does to your labor rate on bids. Do you already provide benefits to your employees like vacation, holidays, insurance? Why double pay when fringe supplements are approved...
January 12, 2020