Industry Updates

Small Business Tax Credit Makes Using Fringe Dollars for PW Benefit Plans Even More Compelling

The Small Business Tax Credit available under the Patient Protection Act gives more urgency to the case for using the fringe to provide benefits for hourly workers:

Industry Updates

Health Care Reform Update

With the passage of the PPACA, construction industry employers with more than 50 employees will be required to offer health care coverage to their employees, which can be paid for with fringe dollars via a prevailing wage benefit plan. Encourage prospects to prepare for this change now, rather than waiting until just before the new provisions take effect.

Industry Updates

Results of the Employee Benefit Research Institute’s annual Retirement Confidence survey, released March 9th, reveal that 43% of American workers have less than $10,000 saved for retirement, up from 39% in 2009. Perhaps even more startling is the percentage who have saved less than $1,000: 27%, an increase of 7% over last year. The percentage of respondents who have saved for retirement fell from 75% of those surveyed to 69% this year.

Industry Updates

We’ve only seen the tip of the iceberg. That was the consensus during a recent webinar sponsored by Onvia, the Associated General Contractors of America, and the American Institute of Architects. Here are a few highlights from 2010: The Next Economy – Government Market Outlook:

Jobs for Main Street

Statistics were presented which indicate the government market will continue to grow for at least the short-term. The Jobs for Main Street Act, introduced in late 2009, builds on ARRA initiatives and is partially funded by savings from the Troubled Asset Relief Program (TARP). The House version of the bill includes significant appropriations for infrastructure projects, with the majority dedicated to transportation. Billions of dollars are also targeted for school renovations, as well as the energy, healthcare and energy sectors.