Fringe Benefit Group Promotes Bill Henson to Vice President of SCA Markets; Continues Expansion of Resources for Government Contractors

2009-11-10 17:36:05 -

Fringe Benefit Group, an industry leader in group benefit plans designed specifically for hourly and part-time workers, today announced Bill Henson has been promoted to vice president of SCA markets, where he will be responsible for expanding the company’s service contractor customer base and educating the insurance advisor community about prevailing wage benefit plans.

Service contractors face many unique challenges such

as a diverse workforce, workers in multiple locations, rapid increases/decreases in workforce size, and daunting administrative and compliance burdens. The federal government spends nearly $50 billion a year on McNamara–O’Hara Service Contract Act (SCA) covered contracts. The SCA requires both prime and subcontractors contracting with the federal government performing service work to pay the wages and fringe benefit amounts as determined by the Department of Labor (DOL). Information about the Acts and prevailing wage benefit plans can be found at www.servicecontractorsplan.com : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. .

Fringe Benefit Group : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. ( www.fringebenefitgroup.com : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. ) has specialized in providing bona fide benefit plans : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. to prevailing wage workers, including SCA contractors, for more than 30 years. Many service contractors pay the fringe benefit portion of the prevailing wage as additional cash wages, believing it is the easiest way to comply with the law. But allocating the fringe amount to a bona fide benefit plan, such as The Contractors Plan from Fringe Benefit Group, results in significant cost savings on payroll burden because these monies are not subject to FICA, FUTA, state unemployment taxes and workers compensation insurance. Benefits that might be included in a bona fide benefit plan offering are retirement, medical, dental, vision, disability and life insurance plans.

“Bill has a deep understanding of how the federal bid process works and how contractors can more effectively compete for these federal contracts. In this role, he is out talking to service contractors about the incredible opportunities available to them and how to efficiently structure and manage a prevailing wage employee benefits program which ultimately helps them win more bids,” said Adam Bonsky, executive vice president of government markets for Fringe Benefit Group.

As the first company to offer benefit plans for prevailing wage workers, Fringe Benefit Group is highly skilled at understanding, recommending and implementing retirement and health plan options for service contractors. Competition for SCA jobs is fierce – and scrutiny for compliance is tougher than ever. With The Contractors Plan powered by Fringe Benefit Group, business owners have a fully bundled, powerful resource to help them save money on payroll burden; maximize owner contributions to retirement accounts; provide quality health, dental, vision and life insurance; and stay in compliance with government regulations.

About Fringe Benefit Group


Austin, Texas-based Fringe Benefit Group and its affiliate companies have helped employers design and administer fringe benefit programs since 1983. Through its nationwide network of independent brokers and agents, Fringe Benefit Group has established itself as the leader in government contractor health and welfare and retirement plans. Drawing on its expertise in the prevailing wage segment, the company has also emerged as a leader in group benefit plans designed specifically for hourly and part-time workers (limited benefit programs). For more information, log on to www.fringebenefitgroup.com : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. or www.thecontractorsplan.com : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. .


Public Relations for Fringe Benefit GroupMelinda Hart, 210-824-3433 melinda@melindahartpr.com : mailto:melinda@melindahartpr.com