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Fri January 09, 2015 - National Edition
Associated Builders and Contractors (ABC) and Fringe Benefit Group, an industry leader in the design, implementation and administration of health and retirement plans for contractors, announced they have signed a strategic partnership agreement.
As ABC’s fourth strategic partner, Fringe Benefit Group will leverage its resources to assist ABC and its 70 chapters in supporting the ABC core value of helping members stay in compliance with government regulations and informed about important compliance information.
Fringe Benefit Group has already helped many ABC chapters and more than 500 ABC members and brokers bid more effectively on public projects while complying with government regulations through its prevailing wage benefit program, The Contractors Plan. For more than 30 years, The Contractors Plan product has helped companies bidding on and performing work subject to the Davis-Bacon Act, state prevailing wage laws, and living and responsible wage ordinances realize dramatic savings on their payroll expenses by allocating some or all of the required fringe benefit portion of the prevailing wage to bona fide benefit plans. The Contractors Plan achieves this via its integrated platform of products, compliance support and benefits administration. (Find more information about The Contractors Plan at thecontractorsplan.com.)
“In becoming strategic partners, ABC and Fringe Benefit Group will be able to educate a broader group of chapters, members and member brokers about unique industry retirement and health care solutions for employees,” said Michael Bellaman, president and CEO of ABC. “We are excited by the opportunity to take our relationship with Fringe Benefit Group to the next level and provide further value to our members through Fringe Benefit Group’s expertise in compliance and ethics.”
“It’s more difficult than ever for construction contractors to keep track of all the government regulations that apply to their business and it’s especially challenging if they work on public projects,” said Adam Bonsky, EVP of government markets for Fringe Benefit Group. “This new strategic partnership with ABC will allow us to support ABC chapters, members and their brokers and help them stay on top of legislation. In addition, we’ll be able to demonstrate some very unique ways that contractors can more effectively design and manage their employee benefit programs – and reduce overhead in the process.”
As the first company to specialize in benefit plans for prevailing wage workers, Fringe Benefit Group is highly skilled at understanding, recommending and implementing retirement and health plan options, including Affordable Care Act (ACA)-compliant health plans. Fringe Benefit Group partners with more than 600 brokers throughout the U.S. to provide major medical, retirement and specialty benefits plan (e.g., dental, vision, life and disability coverage) administration to contractors.
“I am very excited about becoming one of ABC’s national strategic partners because Fringe Benefit Group will be able to provide a broader range of help to many more ABC members,” said Karen deMontigny, who has been an ABC member for over 10 years and served on its committees and boards, both locally and nationally. “We will focus on keeping the membership compliant not just on government projects but also on the Affordable Care Act (ACA), which affects all companies today.”
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