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KNOW YOUR FINANCIAL FUTURE WITH A DEFINED BENEFIT RETIREMENT PLAN
For Prevailing Wage Contractors who want to do more for themselves in the future, CPWIS can tailor a defined-benefit retirement plan that satisfies your income goals and meets Davis-Bacon and California Prevailing Wage regulations! How do we enable you to save for the future without hurting your bottom-line? Once you’ve seen how taking the fringe off of payroll can lower your job costs by reducing statutory payroll taxes and workman’s compensation payments, you’ll see that planning for the future is easier than you think!
Advantages of defined-benefits retirement plans
Whether used alone, or paired with a defined-contribution retirement plan, defined benefit plans can offer employers unique advantages. The most obvious advantage of a defined benefit retirement plan is the ability to plan your income for the future, a very valuable benefit for the right employer. Another advantage of a defined benefit plan is that it can offer specific tax advantages to certain qualified employers, enabling them to get the benefit of maximized contribution possibilities combined with minimal costs for employees.
Defined-benefit retirement plans to meet your needs
By creating flexible vehicles that allow you to mix and match with other retirement plans, CPWIS provides you with the best investment options for your prevailing wage benefit dollars. Ideal for those fortunate prevailing wage contractors experiencing very high earnings, our Defined-benefit retirement plan offers:
• Rapid Asset Accumulation
Set-aside more Davis-Bacon fringe money more quickly than you can with a defined-contribution plan, funneling as much as 85% of deposit dollars to your account. Complies with federal prevailing wage, in addition to California prevailing wage and all of the Little Davis-Bacon’s, as well
• Guaranteed return
Putting your prevailing wage fringe money into a guaranteed return investment account to enable more accurate income planning for the future
• Pair-able with other plans
To maximize your future income, you can pair our defined-benefit plan with a profit sharing plan. Or, if you only want a defined-benefit plan in place for yourself and a separate defined-contribution plan for your prevailing wage employees, we can do that too!
CPWIS works with your team to get you the best benefits
Prevailing Wage regulations can be confusing and complex. That’s why CPWIS is there to help you put your employee benefits plan into place. As one of our customers, you’ll appreciate our experience helping prevailing wage contractors like you to install their retirement benefits plans into their accounting systems. You’ll also find peace of mind knowing that our team will help you annualize your premium rates, so that you can feel confident your prevailing wage fringe benefits dollars are being properly allocated. Finally, as one of our clients, you’ll love knowing that CPWIS is there to help make sure that your paperwork and filings will keep you in compliance with Davis-Bacon and California prevailing wage regulations.
Is a defined benefit plan the right investment vehicle for your future? Contact us (or have us contact you!) We’ll assess your situation and help you pick the best retirement strategy for your company. Your future will be glad you did!
