Click here for South Florida or Space Coast registration information.
Associated Builders and Contractors Institute Apprenticeship Programs are Registered and Certified by the Florida Department of Education, Department of Labor, Veterans’ Benefits and Assistance.
Employer Benefits
- Certified Apprentices for Davis Bacon/Prevailing Wage Jobs
- Significantly Reduces Payroll and Training Cost
- Productivity (application & implementation)
- Employees are updated on the Newest Codes and Technology
- Green and OSHA Training
- Evening Classes
- Contractor’s Cost Is Less Then $12.00/Wk.
Apprentice Benefits
- Earn Nationally Recognized Certificates: Florida Department of Education/Department of Labor, National Center for Construction Education and Research (NCCER) and ABC Institute
- Earn $$$$$ While You Learn
- Nationally Accredited NCCER HVAC and Green Curriculum
- Trade Specific State of the Art Laboratories
- Completers Earn up tp 27 College Credits in an Industry Related Degree
- ABC Institute is an equal opportunity training provider!
Training Centers
We have five conveniently located training centers. One of them is located near you!
- Miami Dade
- South Broward
- North Broward
- Palm Beach
- Space Coast
ABC Dollar Bank Contractor's Plan
When the fringe portion of the prevailing wage is used to provide benefits for hourly workers, this amount is not subject to payroll costs such as FICA, federal and state unemployment taxes, and workers compensation insurance. A conservative estimate is that these costs represent an additional 25 cents on each dollar paid as cash wages.
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Compare fringes paid in cash
with the Dollar Bank® plan.
|
| Paying the Fringe in Cash |
|
|
Base Wage |
$20.00 |
|
Fringe Amount Paid as Cash |
$8.00 |
| Total Hourly Cash Wage |
$28.00 |
|
Payroll Tax Burden Percentage |
30% |
|
FICA: 7.65%, FUTA: 0.8%, SUTA 2.2%,
(workers comp: approx. 20%, varies by state) |
|
| Hourly Payroll Tax Burden |
$8.40 |
|
Cash Hourly |
$28.00 |
|
Total Bid Hourly Cost |
|
|
Providing Bona Fide Benefit Plan |
|
|
Base Wage |
$20.00 |
|
Total Hourly Cash Wage |
$20.00 |
|
Payroll Tax Burden Percentage |
30% |
| Hourly Payroll Tax Burden |
$6.00 |
|
Fringe Amount Paid into Plan |
$8.00 |
|
Total Bid Hourly Cost |
$34.00 |
|
|
|
|
The Dollar Bank® saves you per employee hour, or over 6.5% of payroll. |
$2.40 |
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Compliance Support Services
The US Department of Labor is already increasing its investigative staffing anticipation of auditing projects funded by the American Recovery and Reinvestment Act. It’s almost a certainty that any contractor who works on a federally funded job will be audited.
When you partner with the Dollar Bank® you receive unparalleled support and expertise in designing your response to an inquiry or audit at no additional cost. Since we’ve specialized in prevailing wage plans for 25 years we have relationships with officers at the DOL and understand what they expect to see in an audit or inquiry situation. We help gather request reports and documentation quickly, and can speak to DOL officials on you behalf to clarify any issue(s) raised.
Quality Benefits
The Dollar Bank®/Contractors Plan partners with Transamerica and Nationwide to offer funds from well known companies such as American Funds, PIMCO, Vanguard and Neuberger Berman. Employees can choose their own investment mix from these options. Employees who prefer to get help with their investment mix can select a Manning & Napier life cycle or target date fund determined by their risk tolerance or anticipated retirement age. Our plans offer a wide variety of asset class choices for participants while keeping the process simple and easy to understand.
Ease of Administration
The Dollar Bank® provides comprehensive, single point services. Our simple, effective benefit solutions allow you to focus on your business instead of worrying about your benefits programs. Upload on file and send in one check we do the rest!
- Administration
- Recordkeeping
- Participant Services
© 2010 Associated Builders and Contractors, Florida East Coast Chapter Inc., All Rights Reserved
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