Participation in the Davis-Bacon Pension Plan & Trust means employees also save the amount which they otherwise would have paid to FICA or income tax on their Fringe Benefits. In addition to tax …

Nov 21, 2023 · In a Davis-Bacon plan, government contractors pay the base rate of prevailing wages to the employees and then contribute the fringe to the plan. This elective deferral can be done on a pre …

Nov 4, 2022 · A recent call with a financial advisor from California involved a qualified automatic contribution arrangement (QACA) covering participants doing covered employment under the Davis …

May 4, 2016 · Total elimination of the employee’s FICA tax (7.65%) and occupational tax (typically around 1%) on these dollars. We say total elimination, because when these dollars are later taken …

A Prevailing Wage Retirement Plan is a specialized plan that addresses the requirements of the Davis-Bacon Act, by using the fringe benefit component of prevailing wage to fund a qualified retirement plan.

It is an IRS Approved Retirement Program designed specifically for open shop contractors who work on Davis-Bacon, State Prevailing Wage Jobs or Service Contracts.

Oct 14, 2020 · Similar to other 401 (k) retirement plans, the Davis-Bacon 401 (k) is a plan established by employers where employees can make an elective deferral on a pre-or post-tax basis. The difference …

Oct 4, 2008 · Davis-Bacon dollars contributed to a retirement plan must be deposited at least quarterly. When not on Davis Bacon projects, regular pay might be $14/hour. Fringes must be $10 (and these …

It is not uncommon for every $1.00 reduction in take-home pay to result in over $1.40 going into the plan. In other words, it appears to the employee that the savings in taxes are similar to a match …

Participation in the Davis-Bacon Pension Plan & Trust means employees also save the amount which they otherwise would have paid to FICA or income tax on their Fringe Benefits. In addition to tax …