Davis-Bacon Prevailing Wage Plans: Key Points for Employers

Posted on Jul 9, 2018

The Davis-Bacon Act is a federal prevailing wage law governed by the Department of Labor that applies to contractors and subcontractors who perform work on government projects in excess of $2,000 for construction, repair, or alteration. Laborers and mechanics employed on the project job site must be paid the prevailing wage rate, including fringe benefits. The prevailing wage rate is based on wages and fringe benefits paid to laborers and mechanics employed in similar projects in the area. The Davis-Bacon and Related Acts (DBRA) are intended to level the playing field between bids submitted by open shops and union shops.

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Boost Retirement Savings with a HSA

Posted on Jun 7, 2018

Health Savings Accounts (HSAs) offer significant tax advantages and can be an effective way to cover health care costs in retirement. By law, HSAs are available to individuals who enroll in a qualified high deductible health plan (HDHP), are not enrolled in Medicare or covered by another health plan, and who are not claimed as a dependent on someone else’s federal tax return.

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Maximizing Social Security Income

Posted on May 17, 2018

Advisors look to The Pension Service and often depend on them to be knowledgeable about retirement planning tools and resources. Given our 50+ years in business, we are very familiar with the tools and resources offered by many of the 401(k) record-keepers in the industry.

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How Cash Balance Plans are Redefining the Retirement Savings Industry

Posted on Apr 23, 2018

Unlike a 401(k), the final vested benefits received by the participant upon retirement or termination are guaranteed and are not dependent on market fluctuations.

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Are Millennials Saving for Retirement?

Posted on Mar 19, 2018

Millennials, loosely defined as the cohort of people born in the mid 1980’s to late 1990’s, are familiar with debt because of their student loans and easy access to credit cards.

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CEFEX Certification: The 'Gold Standard' in TPA Validation

Posted on Feb 2, 2018

CEFEX Certification is one of the cornerstone attributes of an 'alpha' TPA, according to Jason Brown.

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Sexual Harassment Training: Is Your Company in Compliance?

Posted on Jan 9, 2018

Sexual harassment prevention training. Even in states that do not mandate training, consider educational programs for supervisors and employees on prevention of sexual harassment and a hostile work environment.

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4 Great Reasons Why Even Small Businesses Need HR Services

Posted on Dec 20, 2017

An HR professional can determine if your compensation and bonus plan rewards the desired behaviors or if your policies or benefits are flexible enough or make sense for the current business environment.

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Fiduciary Responsibilities

Posted on Nov 28, 2017

The employer must ensure that any 3(16) administrator it hires is qualified, charges reasonable fees, and has the assets to settle legal claims in the event of litigation due to breach of its duties.

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Organizational Pressure Points

Posted on Nov 16, 2017

There is no magic number of employees that a company should have before hiring a dedicated HR person. There are instead certain pressure points that indicate when it is time to begin looking to the right HR talent aboard.

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