I generally don’t post advertising or marketing materials on The Benefit Blog. However, I think this Lockton release describing the benefits of working with a qualified broker to maximize wage fringe benefits is a great informative guideline. If your broker isn’t doing these things for you, you may be missing out on cost savings.

• Cut Job Costs: Savings on payroll burden and expenses are immediate—see them on your next payroll.
• Submit More Competitive Bids: The money you save can be the difference in winning a bid.
• Provide Quality Benefits for Employees: Offer retirement, medical, dental, vision, disability and life insurance plans.
• Simplify Recordkeeping and Administration: Benefits are tracked per hour, and the possibility of overpaying premium is greatly reduced.
• Extend Medical Coverage During Slow Times and Layoffs: By tracking hourly benefits, you pay only for hours worked.
• Stay In Compliance With DOL, IRS, and State Regulations: We have years of experience working with state and federal agencies.
• Respond Quickly and Accurately In the Event of An Audit: We partner with you to prepare your responses to inquiries and audits.

Read the full release here: Maximizing Your Prevailing Wage Fringe Benefits