Knowing Your Beneficiary Elections
Have you recently got engaged, had a baby, gotten married? Congratulations! But have you told us? Even if you haven’t experienced a life changing event, do you know who your beneficiaries are? If you are even the slightest bit unsure, check with us today! Remember, health & welfare trust and retirement plan beneficiaries have different forms, do not carry over and have different rules. You should check both plans for several reasons. For instance, did you know who you designate as your beneficiary for your retirement plan takes precedence over your will? In fact, the designated beneficiaries in your...
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...
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