Why Place Fringe Dollars
M group provides prevailing wage contractors several ways to significantly decrease overhead, allowing clients to bid more competitively by eliminating the hidden costs of Fringe benefits.
Reduce payroll burden.
Contractors reduce payroll burden by offering bona fide benefits through the fringe portion of the prevailing wage rate. If your company is currently paying the fringe portion of this rate in cash, you are subject to unneeded payroll burdens, wasting your company dollars. FICA, FUTA, general liability, state unemployment taxes, and in most states, workers compensation insurance are avoided when the fringe dollars are used correctly.
Although rates may differ from job to job, the bottom line is the same. You are not required to include the fringes in the payroll calculations but rather should be offering these benefits to your employees. Paying fringes in cash is wasted company gain. M Group will help you place these fringe dollars. Our objectives:
Our clients – your company – will save money today.
Your employees will confidently save money for the future.
Your company will be giving your employees a proper way to begin saving for their financial independence.
Help your employees save for the future.
The potential benefit of using experienced money managers, the M Group, to properly place fringes is not only an advantage to the employer but also to the employee – both for now and into the future. Through proper fringe selection, you help your employees with retirement, healthcare, vacation, supplemental employment, confidence and more. At the same time, properly placing their fringe dollars continues to offer employees a competitive base salary, while saving your business unneeded overhead and building your revenue.