Redefining Fringe Benefits
Discover Onsi Group's specialized fringe benefit trust administration, a powerful tool designed to offer you a comprehensive compliance analysis of all bona fide fringe benefits provided to your valued employees. Our service meticulously covers various employee benefits, including insurance, retirement plans, health savings accounts, sick leave, holiday, vacation, and more. In addition to this, we proudly provide Trust Administration turn-key services that ensure adherence to all fringe benefit regulations for all covered employees. With Onsi Group's expertise, your company can effortlessly manage fringe benefits, empowering you to offer your employees the best value and coverage options while maintaining peace of mind regarding compliance. Don't let the intricacies of employee benefits hold you back; let Onsi Group help streamline the process for you.
Onsi helps you manage Fringe Benefits
Onsi offers comprehensive solutions to efficiently manage Fringe Benefits. Our team of subject matter experts is dedicated to providing contractors with a holistic perspective on three critical facets of contract administration and prevailing wage compliance: SCA and DBA Requirements, Contract Profitability, and Department of Labor Investigation support.
SCA and DBA Requirements
At Onsi, our Team Members specialize in the practical application of SCA and DBA labor requirements. We understand that simply knowing the law isn't enough; the true challenge lies in effectively integrating these regulation requirements into your company's processes and procedures to optimize their impact.
Enhancing Contract Profitability: Key Considerations for Compliance and Financial Success
In the realm of business operations, maintaining compliance is paramount. Nevertheless, it is equally crucial to sustain contract profitability for long-term success.
Should you provide fringe benefits in cash or as non-monetary benefits?
•This depends on various factors, including whether your pricing model accounts for the additional costs associated with offering "cash in-lieu of" benefits
Was a new wage determination incorporated into your contract, requiring an increase in employees’ Health & Welfare / Fringe Benefit and/or hourly wage rates?
• If so, you may be eligible to request a Price Adjustment.
Did you provide benefits above and beyond what was required in your contract and wage determination?
• It's possible that some of these additional costs can be recovered.
At The Onsi Group, we specialize in addressing these and many other scenarios daily, all while ensuring your company remains compliant with Prevailing Wage and other labor laws. Our dedicated team is committed to safeguarding your company's bottom line and contract profitability.
Department of Labor Support
Facing a Department of Labor (DOL) investigation? You don't need to feel discouraged. Our dedicated Onsi Team specializes in guiding contractors through DOL investigations, consistently achieving successful outcomes.
Our expertise lies in facilitating clear communication between employers and DOL Investigators, ensuring information and documentation are presented in a way that expedites the investigation process, potentially reducing investigation times by up to 50%. Our goal is to help you emerge from a DOL investigation more confident and experienced, all while minimizing the financial impact often associated with such investigations.
What are Fringe Benefits?
Fringe Benefits are a non-monetary component of an employee’s overall compensation package. In Government Contracting, Fringe Benefits are a requirement in addition to wages for all contracts subject to SCA and DBA/DBRA. Some of the most common examples of fringe benefit plans are:
• Short- and Long-Term Disability
• Critical Care
• Health Savings Accounts
• Retirement Plans
• And more...
Any benefit required by law such as Social Security, Medicare, and Workers Compensation are not considered bona fide fringe benefits under the SCA and/or DBA/DBRA.
We value Onsi's knowledge, timeliness, and guidance in assisting with most aspects of our small business. If there's an issue that we have, aside from their services, they listen and try to point us in the right direction.
Expert Trust Administration Services for Federal Contracting
In the realm of Federal Contracting, Onsi's dedicated team of subject matter experts excels at deciphering and maneuvering through the intricate provisions of key legislations. We specialize in comprehending and applying the nuances of the Service Contract Act (SCA), Davis-Bacon Act (DBA), Davis-Bacon Related Acts (DBRA), and the Fair Labor Standards Act (FLSA). Ensuring compliance with these regulations is critical, as violations can not only disrupt your business operations but also jeopardize your eligibility for new contract opportunities.
Our Trust Administration services encompass a wide array of solutions, catering to the diverse needs of federal contractors. These offerings include:
Annual Fringe Benefit Analysis
Employee Onboarding and/or Open Enrollment Webinars
Employee Prevailing Wage Management
Fringe Benefit Hour Bank Reserve
And much more, with a comprehensive range of services designed to meet the varied requirements of our clients in the federal contracting sphere.Get a Free Quote
Fringe Benefits FAQs
What is the Service Contract Act (SCA)?
What is the Davis-Bacon Act (DBA)?
What are the Davis-Bacon Related Acts (DBRA)?
Does the Service Contract Act (SCA) or Davis-Bacon Act (DBA) apply to all government contract services work?
What is Prevailing Wage?
What is Health and Welfare (H&W)?
Why does the employer get to choose the benefits?