If my employee contributes to the employee benefits, are they still “bona fide”?
Yes!"Bona fide" benefits, including those for prevailing wage, may be either contractor-financed or a joint contractor-employee contributory plan.
Are contributions to a “bona fide” employee benefit plan mandatory?
Participation can be mandatory so long as prevailing wage fringe money is enough to cover the cost. In the event [...]
What if my plan isn’t “bona fide”?
Regardless of whether you are doing federal davis-bacon prevailing wage, or state prevailing wage, failure to provide employees "bona fide" [...]
Do prevailing wages also need to be “bona fide”?
No. The term "bona fide" does not refer to the cash (or wage) component of the prevailing wage rate determination
Can I control my own plan and still have it be “bona fide”?
It depends. To know for certain, you should seek competent legal advice.
Does “bona fide” really matter that much?
Yes! Failure to provide "bona fide" benefits can result in compliance issues with a variety of Federal and State Agencies.
How do I know if my plan is “bona fide”
If your benefits plan does not meet the requirements per the Davis-Bacon and Related Acts, then there is a possibility [...]
What does “bona fide” mean?
A key to reducing fraud and safeguarding employees, the term “bona fide” appears quite often in the Davis Bacon [...]
What does an “exemption from the Annualization rule” mean?
It allows a prevailing wage contractor to make contributions only when the employee is working on prevailing wage projects and [...]
Do all benefits have to be Annualized?
No. If the plan has received an “exemption” from annualization, such as a defined contribution plan, the contributions do not [...]