Basics of Prevailing Wage and the Davis-Bacon Act webinar
How to navigate the wage determination and allocate the mandatory fringe
By Tim O’Toole
The Mason Contractors Association of America (MCAA) will present Basics of Prevailing Wage and the Davis-Bacon Act on Wednesday, March 12, 2014, at 10:00 AM CDT.
Contractors who work on publicly funded projects must deal with many regulations, especially involving how they compensate employees. Some states even have their own regulations. Understanding which laws apply to which projects—and where to seek advice—is enough to frustrate the most savvy construction business owner. The Davis-Bacon Act is one of the most important laws open-shop contractors must follow. This law requires all contractors and subcontractors performing work on federally-funded construction contracts to pay their laborers and mechanics no less than the prevailing wage rates and fringe benefits for corresponding classes of laborers and mechanics employed on similar projects in the area. Even companies that do a small percentage of projects covered by prevailing wage laws can realize significant savings by using fringe dollars in the way the law intended.
John G. Allen, CRPS, is the Midwest Regional V.P. for Fringe Benefit Group a firm specializing in Davis-Bacon and prevailing wage benefit programs. Mr. Allen has over 20 years’ experience in the employee benefits industry holds 2 professional designations, Certified Financial Planner (CFP) and Chartered Retirement Plan Specialist (CRPS), from The College For Financial Planning. In his current role, Mr. Allen consults with contractors that perform both government work and private work advising them on prevailing wage and Davis-Bacon regulations, compliance issues and administration of “bona-fide” fringe benefits. Fringe Benefit Group administers The Contractors Plan which is endorsed by construction industry trade associations and helps non-union contractors reduce labor costs, save money, win bids and stay compliant on all government work.
Mason contractors registered for Masonry Certification will receive 1.00 credits in the Ethics and Business Practices discipline upon completion of this course.
Register for Basics of Prevailing Wage and the Davis-Bacon Act at www.masoncontractors.org/live.
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Visit www.masoncontractors.org/live for more information and to view a full schedule of MCAA’s Live Webinar Series.
About the Author
Tim O’Toole is the Director of Marketing for the Mason Contractors Association of America (MCAA). He has a Masters in Business Administration from Webster University and has worked in the masonry industry since 2003.