Step 1: Providing benefits can actually save you money.
It’s called Prevailing Wage work, but that doesn’t mean the fringes are wages. They aren’t. They’re benefits for your people. And if you’re paying them in cash, your business is losing money because it’s being taxed unnecessarily. That’s money that can be invested back into your people, tools and safety. By joining the Beneco Plan, you can offer premium benefits to your employees while you’re saving on total labor cost—from 8% to 10% immediately.
Step 2: Build a Better Pension & Retirement Plan
We offer the same financial products as the conglomerates on Wall Street, but that’s where the similarities end. Our plans are built specifically for Prevailing Wage contractors. They maximize your tax savings and allow you to pay significantly lower administrative costs. It’s the reward for building America’s infrastructure through Prevailing Wage projects. And you can also reward your essential employees by making significant contributions to their 401(k) funds, pre-tax and up to $53K per employee annually.
Step 3: Offer Health & Welfare Benefits
Attracting and retaining skilled employees can be challenging. But the Beneco Plan gives you what good employees are looking for: cost-effective health plans with choices in nationwide health insurance carriers. The Beneco Plan allows you to offer:
- Major Medical
- Short-term disability
- Long-term disability
How Much Can You Save?
For more than 25 years, we’ve partnered with contractors all over the country saving them money on Prevailing Wage projects. And we’re still building today, constantly finding new ways to improve our services and the returns they yield you, your business and your valued employees. Let us show you the many different ways the Beneco Plan can be always building your business.