A major construction company trade group has agreed to encourage member firms to buy retirement services from Fringe Benefit Group Inc.
Associated Builders and Contractors, Washington, a trade group that represents 25,000 construction companies with 2 employees, will be including Fringe Benefit Group, Austin, Texas, in the ABC Business Partner program.
ABC members can use a Fringe Benefit Group retirement services package aimed at non-union companies that want to compete with union companies for federal contracts.
In some cases, employers try to compete in fringe benefits compensation by paying workers additional cash wages to make up the difference between what they offer and what the union employers offer.
Going with a fringe benefits plan can cut payroll taxes and workers’ compensation insurance costs, and they can give employees multiple distribution options, Fringe Benefit Group says.