Direct Advisors, a division of HUB Retirement and Wealth Management

08/29/2024

Why switch to a prevailing wage funded trust plan for your employees?
One big reason is tax advantages that create a very large savings to contractors which can result in more competitive bidding. In this example, the contractor would save $6/hour, or over 9%, by contributing the fringe benefit portion of the prevailing wage to a bona fide benefit plan. If this contractor has 100 employees each working 2,000 hours a year, the company's annual savings would be $1.2 million. Further, employees would also achieve savings since contributions to a bona fide benefit plan defer or avoid income-based taxes.

08/26/2024

The U.S. Department of Labor is encouraging South Carolina highway contractors, stakeholders and other interested parties to participate in a survey to help them determine prevailing wage and fringe benefit rates that accurately reflect the rates paid in those areas. This is directly correlated to the new Davis-Bacon Act regulations that took effect in October 23, 2023.

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08/22/2024

Demand for projects, particularly in areas such as energy and infrastructure, remains steady in most states. Workforce development initiatives are at the forefront of promoting industry career growth.

Fri, 08/16/2024 - 13:13   Florida and Alaska Top Lists of Numerical and Percentage 12-Month Gains, While New York and Maine Lag; Florida and Tennessee Post Highest Monthly Increases, While New York and Arkansas Have Worst Losses Construction employment increased in 39 states in July from a year ea...

08/09/2024

Construction saw steady employment growth last month while it continues to cool in other industries, and the wage premium is growing relative to other sectors.

Fri, 08/02/2024 - 11:50   The construction sector added 25,000 jobs in July as wage gains continued to outpace increases in the broader economy, according to an analysis of new government data the Associated General Contractors of America released today. Association officials said the biggest chall...

08/07/2024

The USDOL is offering a free, online seminar covering prevailing wage regulations including the topics of apprenticeship requirements, certified payroll, and more. It will be held August 29, 2024 from 11 a.m. to 5:30 p.m. EDT. Registration is required.

The .gov means it’s official. Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.

07/26/2024

Michigan's prevailing wage law has now been expanded to include wind and solar energy projects. This comes on the heels of the state's prevailing wage laws being reinstated last year.

Legislation signed this week expands Michigan's prevailing wage law to cover construction projects of clean energy facilities, like wind and solar.

07/23/2024

HUB's Economic Insights provides timely in-depth review of the current economy and markets from HUB's Investment Research Team. Check out our review of second quarter that includes information on a sustained market growth, potential interest rate shifts and macro-economic shifts: https://bit.ly/3WAxOXS

07/08/2024

“Despite indications that the broader economy is slowing, the construction industry continued to add jobs at a rapid pace in June,” said ABC Chief Economist Anirban Basu.

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07/01/2024

When construction accidents happen in the United States, the worker often takes the blame. But there may be a better approach in eliminating the practices that lead to injuries and claims.

Read about the Value of proactive, updated construction safety practices with HUB's Craig Tappel in Insurance Journal: https://bit.ly/4eDyFy6

When construction accidents happen in the United States, the worker often takes the blame. Companies often ask: "What did the worker do wrong?" according

06/21/2024

"...[T]he recent surge in federal tax credits, grants, loans and other funding sources cannot be overlooked. We’re experiencing an extraordinary time in U.S. history, and companies that follow prevailing wage and apprenticeship rules stand to gain additional benefits from federal funds."

If you are a non-union contractor who does public work, contact us at (518) 362-2119 to learn more about how you might qualify to benefit from our prevailing wage trust.

We’re experiencing an extraordinary time in U.S. history, and companies that follow prevailing wage and apprenticeship rules stand to gain additional benefits from federal funds.

06/12/2024

The Foreign Labor Certification Data Center's prevailing wage library, which is maintained by the U.S. DOL, will cease to exist as of July 1, 2024. It is advised H1B and other foreign workers familiarize themselves with the Foreign Labor Application Gateway (FLAG) Wage Search tool. Learn more ⬇️

The Foreign Labor Certification (FLC) Data Center houses the online wage library for prevailing wage determinations. A centralized database, the FLC Data Center collects and stores data on labor certifications filed by U.S. employers seeking to hire foreign workers under various visa programs. The d...

05/29/2024

As the Department of Labor (DOL) has unveiled its definitive Retirement Security Rule, presenting profound strategic implications for retirement plan sponsors, it's imperative organizations understand the nuances of the Fiduciary Rule.

Join HUB for an in-depth discussion with leading ERISA attorney Fred Reish, where we will delve into deciphering the final DOL Fiduciary Rule and its implications for plan sponsors, understanding the proposed definition of fiduciary investment advice and its distinctions from the current five-part test, exploring the potential impacts of the proposed rule on rollovers and common investment transactions and ERISA-compliant planning strategies.

Register now: https://hubs.la/Q02yRcXY0