Government contractors are required to provide a bona-fide fringe benefit to each employee. The terms of this requirement are found in the employer's contract with the government.
Since most of these mandates are a derivative of the hours worked by the employee in conjunction with the posted fringe rate, record keeping services are vital for contract compliance.
Monthly reconciliation of employer fringe reporting
Differentiation of “fixed” cost and “average” cost contracts
Individual employee accounting
Plan management and eligibility
Premium allocation and reconciliation
Premium reserve and hour bank accounting
Reporting trail for Department of Labor (DOL) audits
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