The Pension Service
TPS 3(16) Service
Payright Payroll Affiliates
Benefits Plus
TPS Group Medical
A simple, low cost, innovative approach to Prevailing Wage Law Compliance.
Our program offers an easy to understand solution that satisfies DOL requirements, while providing an open shop contractor the opportunity to not only lower their expenses, but reduce their liability. The Supplemental Fringe is paid into the PWP. It is then used to fund a variety of benefit options per a menu designed and selected by the employer. An employee may choose to follow the pre-determined selection of benefits or they may customize the selections and contributions best suited to their individual situation.
Through this plan an Employer will realize a number of benefits and savings when they adopt the TPS Public Works Plan.
Cost Savings: The employer will save substantial payroll costs with FICA, Worker’s Compensation, and Employer Liability insurance costs by having the Supplemental Fringe contributed to the PWP. Typical savings range between 30 to 40 cents per dollar.
Benefits Administration: The employer will now have a Third Party Administrator (TPA) administering their benefits under the PWP. This administration includes, but is not limited to, the employer’s sponsored medical plan(s). The TPA will handle all billing and enrollment issues, including the occasional question an employee or employee’s family member may have regarding claims and the insurance.
If you participate in Prevailing Wage Jobs, please call us at 855-828-2229 to learn how we can help!
- TPS Group
- Services
- The Pension Service
- Public Works Plans
Public Works Plans
A simple, low cost, innovative approach to Prevailing Wage Law Compliance. Our program offers an easy to understand solution that satisfies DOL requirements, while providing an open shop contractor the opportunity to not only lower their expenses, but reduce their liability.
Through this plan an Employer will realize a number of benefits and savings when they adopt the TPS Public Works Plan.
Related to: Third Party Administrator, TPA, Pension Plan Design Consultant, Retirement Plan Consultant, Retirement Plan Design, Pension Consultant, Third Party Benefits Administrator (TPA)
Further Reading: Public Works Plans
Reviews
We look forward to working with TPS Group next year
As another year ends, I want to express my sincere gratitude and appreciation to you and TPS Group for assigning us Krista Blier. Krista provides exceptional customer service and has been a major asset to me and Lynch, Traub, Keefe & Errante, P.C. She is extremely knowledgeable and always accessible. Always on top of the RMD’s, giving me an explanation on form 5500-SF to present to Mr. Keefe & keeping us updated with any account changes as well as specifics. It is a relief knowing I have full faith in Krista and can turn a blind eye to our account. I cannot tell you how many vendors/brokers I have to stay on top of and babysit to make sure our deadlines are met and to perform their job duties. Krista is a pleasure to work with and we look forward to working with her and TPS Group next year.
- Michael Panela
Highly impressed with their level of expertise and outstanding customer service.
I highly recommend TPS Group and their quality third-party administration for our 403(b) plan. During our long relationship with TPS Group, we have never failed to be impressed with their level of expertise and outstanding customer service. They keep their promises and it’s easy to work with them. Having our own rep Lauren McNabb is a plus!
- Don Senecal
"Extremely Helpful to Our Business"
Malinda deserves special recognition. She is prompt, courteous, and professional. We find her to be extremely helpful to our business.
- Angela Simino
"Wonderful To Work With"
My go to professional is Des. A wonderful person to work with. We can count on him to handle all of our needs.
- Andrea Blakeslee
"Answers All Of My Questions In A Clear Manner"
Our case administrator, Susan, has been absolutely wonderful and is a joy to work with. She is very knowledgeable, patient, answers all of my questions in a clear manner, and is professional.
- Kathy Townsend
Extremely Valuable to Myself and Our Company
Kathleen has helped me gather info and understand text so many times and is extremely valuable to myself and our company.
- Elizabeth Robison
They are a pleasure to work with and we highly recommend their services.
For many years we’ve relied on TPS Group’s extensive knowledge and industry expertise to keep us in compliance with state and federal regulations as well as changes in the law. Their attention to detail is just what we need to keep our business operations running smoothly. They are a pleasure to work with and we highly recommend their services.
- Dan Neal
Dependable, experienced, and professional
Dependable, experienced, and professional, our TPS Group recruiter was an invaluable resource, helping us locate and vet quality talent.
- Tyler R. Vunk
The Latest News
Getting the Word Out to Your Employees about Retirement Planning
Posted on May 18, 2022
A positive, consistent, and easy-to-understand communication plan is key to motivating employees to participate in your retirement plan. It’s also important to keep the lines of communication open and be available for questions. You might also consider working with your plan administrator to offer financial literacy resources for employees. »
Starter-K Act of 2022 Introduced in the Senate
Posted on Apr 12, 2022
On March 30, 2022, Senators John Barrasso (R-WY) and Tom Carper (D-DE) introduced the bi-partisan Starter-K Act in the Senate. This bill allows employers who do not offer a qualified retirement plan to their workers to establish a starter 401(k) deferral-only arrangement for plan years beginning after 2022. »
MyCTSavings Notice: Employers with Qualified Retirement Plans Must Certify Their Exception
Posted on Apr 4, 2022
Connecticut has implemented a mandatory program called MyCTSavings for employers with 5 employees or more who do not currently have a retirement plan in place. Employers who already offer a qualified retirement plan are exempt, but they are required to certify their exemption online. »
