Since 1989, Beneco has not only saved contractors millions of dollars in labor burden costs on prevailing wage projects but we have been the pioneer, forerunner, and advocate for contractors throughout the United States on many other issues. Below are just a few topics Beneco spearheaded that not only helped our contractor clients but non-Beneco clients as well.
- Successful in stopping NCCI from requiring contractors to pay worker's compensation premiums in prevailing wage fringe contributions.
- Successful in stopping the State Department of Labor from requiring annualization formula for prevailing wage fringe contributions.
- Beneco was the first in the Industry to receive approval for owners to maximize contributions into their qualified plans using prevailing wage offset and/or new comparability formulas.
- First prevailing wage fringe benefit provider to credit back revenue sharing to employee accounts creating higher investment returns for contractor employees.
- First prevailing wage fringe benefit provider to utilize "open architecture platform."