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Fringe Benefits Done Right

Date: Tuesday, October 13, 2015
Watch Now
Time: 2:00 p.m. (ET) / 1:00 p.m. (CT) / 12:00 p.m. (MT) / 11:00 a.m. (PT)
Length: 90 minutes
Fee: Free
Speaker: Adam Bonsky, EVP of Government Markets, Fringe Benefit Group (The Contractors Plan)
  Eric Fowler, Regional VP, Fringe Benefit Group (The Contractors Plan)
  Sam Melamed, Insurance Trust CEO, ABC National
Category: Compliance, AQC  
Prevailing wage rules are complicated, and current practices are infrequently reviewed. Learning how to take proper credit for the fringe on government jobs can save contractors tens and often hundreds of thousands of dollars, making your bidding more competitive and allowing business owners to set aside significantly more pre-tax retirement savings. This webinar will educate employers about their options and obligations when it comes to prevailing wage work (Davis-Bacon jobs) and discharging the fringe obligation. We will discuss issues that are problematic for employers, such as how to use a monthly-billed plan that must be accounted for hourly. Taking proper credit for the fringe obligation, tracking and remitting premium, properly classifying employees and reserving unused premium are other problems you will learn how to solve.

  • Educate employers about common compliance mistakes (and how to avoid them, such as the misclassification of employees). Attendees will get a better understanding of Davis-Bacon compliance and learn how to avoid pitfalls.  
  • Present best practices for accounting and discharging your fringe benefit obligation. 
  • Understand how to be more successful bidding on and winning prevailing wage projects.
  • Learn how to use the fringe to maximize pre-tax retirement savings for owners and key employees 
PowerPoint Presentation(PDF)

 Adam Bonsky brings nearly two decades of financial services, employee benefits and insurance industry experience to his position as executive vice president of government markets at The Contractors Plan, the industry leader in prevailing wage benefit plans for government contractors.

Adam is responsible for sales, marketing, product development and overall business strategy for The Contractors Plan and meets frequently with open shop contractors, insurance agents and brokers across the U.S. to discuss prevailing wage and compliance issues. Adam has a deep understanding of the complicated issues related to prevailing wage jobs and related government legislation such as regulations, workers compensation, bona fide benefit plans and fringe benefit allocations.

Adam joined The Contractors Plan after serving as the Northern California regional manager for Gevity, where he was responsible for management of its field sales and service personnel. Prior to Gevity, Adam held positions as vice president of relationship management and vice president of client operations and product development for Union Bank of California. He also worked for many years at Transamerica Retirement Services as vice president and director over client management, business development and product development functions.

Adam received his undergraduate degree from Harvard University.

 Sam Melamed, CEBS heads up the ABC Insurance Trust’s prevailing wage practice. Sam has lectured and published widely on prevailing wage compliance and has worked with more than 200 ABC members on their fringe benefits compliance.

 As a regional vice president for Fringe Benefit Group, Eric Fowler is responsible for education, training and sales for The Contractors Plan prevailing wage benefits platform for brokers and employers located east of the Mississippi. Eric has served in many roles in his nearly two decades at Fringe Benefit Group, and is widely recognized for his efforts in the creation and growth of The Contractors Plan Trust (health and welfare benefits trust and administration). Eric began his insurance career with Farmers Insurance Group selling individual lines, Property/Casualty and life insurance plans before joining Hillhouse and  Associates, a Third Party Administrator and subsidiary of New York Life Insurance, responsible for hour-bank administration developed for contractors performing government funded “prevailing wage” projects.  Eric earned a Bachelor of Business Administration degree from Southwest Texas State University-McCoy College of Business Administration in San Marcos, Texas. 

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