Companies that compete for SCA jobs face endless challenges around compliance, healthcare reform, fringe benefits and taxes. With The Contractors Plan, business owners have a fully bundled, powerful resource to help them stay compliant and compete.
Austin, TX (PRWEB) April 16, 2015
Fringe Benefit Group, an industry leader in the design, implementation and administration of health and retirement plans for government contractors, today announced that Stephanie Craghead and Marc Johnson have joined the company’s Service Contract Act (SCA) team as vice president of client management and regional vice president of SCA markets.
The federal government spent more than $90 billion in 2014 on McNamara–O’Hara Service Contract Act (SCA) covered contracts. Service contractors face many unique challenges such as a diverse workforce, workers in multiple locations, rapid increases/decreases in workforce size, and daunting administrative and compliance burdens. The SCA requires both prime and subcontractors contracting with the federal government performing service work to pay the wages and fringe benefit amounts as determined by the Department of Labor (DOL).
For more than 30 years, Fringe Benefit Group has helped companies bidding on and performing work subject to the SCA, Davis-Bacon Act, state prevailing wage laws, and living and responsible wage ordinances realize dramatic savings on their payroll expenses by allocating some or all of the required fringe benefit portion of the prevailing wage to bona fide benefit plans. As the first company to specialize in benefit plans for prevailing wage workers, Fringe Benefit Group is highly skilled at understanding, recommending and implementing retirement and health plan options, including Affordable Care Act (ACA)-compliant health plans. Fringe Benefit Group partners with more than 600 brokers throughout the U.S. to provide major medical, retirement and specialty benefits plan (e.g., dental, vision, life and disability coverage) administration to government contractors through The Contractors Plan, its flagship product.
“Companies that compete for SCA jobs face endless challenges around compliance, healthcare reform, fringe benefits and taxes. With The Contractors Plan, business owners have a fully bundled, powerful resource to help them save money on payroll burden; maximize owner contributions to retirement accounts; provide quality health, dental, vision and life insurance; and stay in compliance with government regulations,” said Bill Henson, vice president of SCA markets for Fringe Benefit Group. “Stephanie and Marc have a deep understanding of benefits administration, the federal bid process, and how contractors can stay compliant when competing for government jobs. They are both highly skilled at educating employers and brokers about the intricacies of the SCA and ACA and we are excited about the value they will provide to our customers.”
As vice president of client management for SCA markets, Stephanie Craghead helps employers develop and provide innovative bona fide fringe benefit solutions that are aligned with the company’s business strategy. Prior to joining Fringe Benefit Group, she spent nearly two decades handling employee benefits administration for large employers. For nearly 10 years, she was focused on strategic program development and administration for government contractors working on SCA jobs. Stephanie has extensive experience with multi-million dollar self-funded and fully-insured benefits products. A graduate of Weber State University, Stephanie has a deep understanding of the complicated issues related to the design and delivery of bona fide benefit plans and fringe benefit allocations.
As regional vice president of SCA markets, Marc Johnson is responsible for expanding the company’s service contractor customer base and educating the insurance advisor community about prevailing wage benefit plans. Based in Washington, DC, Marc serves the Mid-Atlantic brokerage community as a “go to” resource for all SCA related questions; including SCA and ACA compliance issues. Marc has more than two decades of experience in the insurance industry, with the last 12 focused on benefits and compliance advice for SCA government contractors. His consultative approach allows both employers and brokers to evaluate options in satisfying their fringe obligation in a manner that fits their needs best. He is a graduate of the University of Southern California.
About Fringe Benefit Group
Austin, Texas-based Fringe Benefit Group and its affiliate companies have helped employers design and administer fringe benefit programs since 1983. Through its nationwide network of independent brokers and agents, Fringe Benefit Group has established itself as the leader in government contractor health and welfare and retirement plans. Drawing on its expertise in the prevailing wage segment, the company has also emerged as a leader in group benefit plans designed specifically for hourly and part-time workers. For more information, log on to http://www.fbg.com, thecontractorsplan.com or theamericanworker.com.