Understanding Prevailing Wage: Cost & Compliance

Advantage Resource has several upcoming workshops to help contractors better understand Prevailing Wage and Labor Compliance Requirements.
 

"Compliance is easy if you don't care how much money you spend." -Capt Obvious

 
Do you really understand your Prevailing Wage obligations? Does this describe you?

  • Confident, comfortable and in absolute compliance. Does not shy away from PW work because you simply aren’t sure what to do. As competitive as possible on bid day.
  • Is aware of many common PW assumptions that just are not true.
  • Does not pay PW fringes as cash wages simply because you don’t know what else to do.
  • Applies every cent of every bona fide fringe benefit (including holiday and vacation pay) towards the PW fringe rate.
  • Has a written Company Employee Benefit Plan that is in absolute compliance with all of the Prevailing Wage statutes, codes and regulations.
  • Has a system in place to furnish all the required benefit notices to employees and knows what those notices are.
  • Receives the most possible credit for any employee insurance premiums.
  • Has a Benefit Program that is in compliance with the Affordable Care Act (Obamacare).
  • Has a 401(k) in place allowing for maximum benefit on prevailing wage projects.
  • Receives appropriate credit for any Company sponsored Apprenticeship training.
  • When the Prevailing Wage investigator walks in the door, easily produces a clear audit trail of all fringes paid that will satisfy his requirements. You are a “Here’s what we do.”, not a “What will you let me have?” contractor.
  • Knows where to get accurate, complete answers with supporting documentation.
  • You truly understand your Prevailing Wage fringe obligations, employees know all that you are paying on their behalf, and you are not needlessly paying out too much money.

These are some of the things we talk about at our workshop.

“Understanding Prevailing Wage: Cost & Compliance”

9:30am · Wednesday April 22nd
Hosted by ABC Indiana/Kentucky
ABC Office, 1591 Winchester Road #125, Lexington, KY



9:30am · Wednesday May 13th
Comfort Suites Airport (I-65 Exit 128, Fern Valley Rd)
 6535 Paramount Park Drive,  Louisville, KY

 

One very simple monetary advantage you may have over competitors is how you address the fringe requirement of the Prevailing Wage rate. There’s an abundance of “Here’s what you have to do” and not a whole lot of “Here’s how you do it” available. Everyone seems to have a Prevailing Wage Solution, and it usually involves buying a specific product. What in the world is Supplemental Unemployment Insurance? Is that really okay? Why do I need a 401k from someone many miles away with no local representation and really high fees who can’t answer my questions? Why can’t I make a decision with regards to what my Company needs and get someone to do it for me? Do any of these persons know what I really have to do to get and retain good employees? Whose decision is it to make anyway?

We cover a lot of ground and provide quite a bit of educational and reference material for you to keep. These sessions normally last a couple of hours. In order to address everyone’s concerns, attendance is limited to a relatively small number. There is no cost or obligation on your part, just let us know if you want to attend.

To register or request more information for April 22nd in Lexington, call Jennifer Stuecker at ABC (859.231.8453) or send an email to jennifer@abcindianakentucky.org, or call Philip Ely at Advantage Resource (859.313.5472) or send an email to pely@advantageresource.com.

To register or request more information for May 13th in Louisville, call Philip Ely at Advantage Resource (859.313.5472) or send an email to pely@advantageresource.com.


Thank you and we look forward to hearing from you.

Wednesday, April 22nd
9:30am

ABC Office
1591 Winchester Road, Suite 125
Lexington, KY 40505

Contact Jennifer Stuecker
859.231.8453
jennifer@abcindianakentucky.org




Wednesday, May 13th
9:30am

Comfort Suites Airport
(I-65, Exit 128, Fern Valley Rd)
6535 Paramount Park Drive
Louisville, KY 40213

Contact Philip Ely
859.313.5472
pely@advantageresource.com



 

Advantage Resource
1750 Alexandria Drive Ste 100
Lexington, KY 40504

859.313.5472

Visit us anytime at
www.advantageresource.com

 
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