Prevailing Wage Employee Benefits Save Money

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Take All Fringe Dollars Off Your Payroll

In this highly competitive market, a few thousand or even a few hundred dollars in your bid can be the difference between winning a large public works construction contract and laying-off employees. That's why a prevailing wage employee benefits strategy can help your company. Depending upon the state you live in, you might be wasting an additional $0.30 for every $1 dollar of fringe benefit money you pay to the employee as wages. That may not sound like much. BUT, for a large public works project, you might be paying thousands of dollars in taxes – THOUSANDS! – that you don’t need to be spending.

Lower Your Job Costs

Use the mandatory fringe benefit payment to reduce payroll tax burdens, lowering your job costs. It really is that simple.

Care For Your Crew

Give them meaningful employee benefits that will be there for them when they need them. Prevailing wage employee benefits matter.

Be More Competitive

Develop more competitive bids, lower your operating expenses or just take better care of your crews.

What Our Clients Say About Us

"From the beginning, with their (CPWIS') instructions on how to set-up our benefits and select correct Prevailing Wage Determinations, we were able to save money. Their assistance has been invaluable."

-Kym Burns, Land Mark Electric

Let us Show You How we Can Help

It may seem too good to be so, but it's true. Employee benefits strategies can take all that fringe money off of payroll, saving you money AND give your employees a meaningful benefit. Prevailing Wage employee benefits can help your prevailing wage business grow - let our employee benefits consultants show you how!

Contact Me About Taking Fringe Off Payroll

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Prevailing Wage Fringes Are Employee Benefits, Not Wages

When you put the mandatory fringe portion of the prevailing wage on your employees’ paychecks, your fringe payments are being treated as wages; and since they're wages, you are required to pay statutory taxes and workman’s compensation. That’s right, you are paying taxes on your fringe benefit!

Can You Afford To Be Paying Extra For Your Fringe (Example)

In California, an August 22, 2012 Wage Determination had a journeyman Asbestos Worker, Heat and Frost Insulator in Area 1 paid a Total Hourly Rate of $73.37. But, of that $73.37 rate, only $54.70 is hourly pay. The remaining $18.67 is allocated as fringe benefit money. Which means, if you get all of that fringe money off of payroll, then the total hourly rate becomes... $54.70. Let's see how the two compare on a weekly basis.

Save $112.02 per employee, per week by simply providing the fringe benefit as intended, instead of paying the fringe in cash. That's free money back to your company, and that's why taking the fringe portion of your prevailing wage payroll is so important. By using fringe money for what it's intended for - providing an employee benefit - you can take care of your employees AND help your bottom-line.

Payroll Savings Are Only The Beginning

Every employer knows that G/L and Workman's Comp premiums are determined by payroll. Lower your payroll, lower your premiums. Consider those lower premiums, along with the reduced payroll burden, and you can see how the annual savings from taking fringe benefits off payroll can really add up - to $150,000 or more for a 50 employee company!

We Really Can Help Lower Your Job Costs

Take a look at the ways our prevailing wage employee benefits consultants help, or reach out and talk with us. Let us show you how our employee benefits strategies can help your business be more successful!

Have Us Contact You About Fringe Benefit Strategies

What Can We Help You With?*
Your Company's Name*
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Strategies For Moving Prevailing Wage Fringe Money Off Of Payroll

By creating prevailing wage employee benefits packages your field-employees will value, we help you keep your staff happy. And who doesn't want people to be happy? The key to getting prevailing wage fringe money off of our clients' payroll is putting it into "bona fide" fringe benefits. By designing employee benefits plans that eliminate both tax liabilities and workman's comp costs, Contractors Prevailing Wage can substantially reduce your operating costs.

Health Insurance Plans

CPWIS offers a wide range of health insurance plans tailored to meet the needs of prevailing wage contractors. Our health insurance offerings lower job costs AND satisfy Davis-Bacon fringe benefits requirements (as well as those of the Little Davis-Bacon’s) without sacrificing the quality of care.

Health Insurance Plans with all major carriers
HIPAA-compliant, ERISA Contractor Health Trusts
ACA health insurance exchanges, State & Federal Exchanges
Self-Insurance

Pension & Retirement Plans

CPWIS writes pension and retirement plans which offer security for the future while helping your bottom-line today. But that’s not the only value our plans offer. However you choose to plan for the future, CPWIS will help you do so by saving money today!

"Bona Fide" and compliant with both Davis-Bacon and California Prevailing Wage regulations requirements.
Allows owners to boost their own elective deferrals.
Enables profit sharing distributions.

Supplemental Unemployment Benefit Plans

Our Supplemental Unemployment Benefit Plans differ from retirement plans in that they enable employees access to their fringe money in a timely fashion, making it more like cash than their retirement dollars. If a cash plan is what you want, CPWIS will work with you to lower your job costs and help you make more money!

Compliant for both State and Federal Prevailing Wage work
Tax Exempt
Bona Fide

Vacation / Holiday Plans

Use your prevailing wage fringe dollars to give your people a much-needed break. They get a vacation. You get fringe off payroll. It really is that simple!

Compliant for both State and Federal Prevailing Wage work
Popular with crews
Easy to operate

Our Employee Benefits Really Can Help

Take a look at the ways we can help lower your job costs, or just reach out and talk with us. Let us show you how taking care of your people can make your business be more successful!

Have Us Contact You

What Can We Help You With?*
Your Company Name*
State*
Number of Employees*
Percentage of Prevailing Wage Work*
Your Company's Website
Your First Name*
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Your Phone*
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With the help of CPW, Kimberley Tobin's expertise, and her staffs' hard work, dedication, and commitment to getting things done right the first time, we successfully implemented 3 bona fide benefits plans simultaneously, which was no easy task. Over the course of last 7 weeks, we have saved ourselves over $70,000 in payroll expenses. We look forward to the reduction of our workers compensation premium and appreciate the reduction in our employer tax liabilities.
Atina, Leonida Builders Inc.

I just wanted to say thank you. I am so appreciative of bringing your firm on and the work your company is doing for us. The amount of work that has been removed from coming across my desk has been amazing. Thank you again.
Melissa Roller, TriMark R.W. Smith

Honestly, CPW is an essential partner for our company. They provide the prevailing wage expertise that we need to navigate in order to succeed in public works!
Liza Hernandez, Rock Electric

Choosing CPW was the best decision that we could have made. In addition to the cost-saving benefits they installed, what we receive in customer service surpasses anything that we could have expected!
Bernadette Reyes, Wirtz Quality

CPW has always proven themselves top notch in providing our employees with comprehensive and competitive health insurance, pension and supplemental unemployment benefit plans.
Denise Hartnett, Laser Electric

One word of many to describe CPW is exceptional! The level of knowledge, competency, and flexibility was beyond anything we could have expected!
Kanten Wooten, Security Assistance

Thank you again for being our expert and rock. We can always count on you to keep us solid and on the right path. I truly appreciate your assistance in updating our class contribution schedule along with providing us procedures for the DAS140 & 142 forms. You always have up-to-date, accurate information. You’re the best!
Laura Ramirez, Advance Communications

I knew you were one-of-a-kind, but today’s seminar went beyond that. I am astonished at how well you know this information and how much I was missing.
Atina Martiros, Leonida Builders Inc.

I wanted to take a moment to thank you for the assistance and guidance that you have given and continue to give as we navigate our way through the complicated regulations for prevailing wage projects. You and your staff are always professional, courteous and willing to assist. Your knowledge is unsurpassed in this field. Since we have begun working together I feel a weight has been lifted and I can actually sleep at night. I now know that we are heading the right direction and that we have a resource to go to when unclear of what to do next. I look forward to continuing our relationship, through further development of our processes and knowledge.
Cherie, Applus+ RTD

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Take the Fringe Off Your Payroll