• Welcome to Davis-Bacon  Pension Plans, Inc

    Welcome to Davis-Bacon Pension Plans, Inc

    Since 1988, we have been giving open-shop contractors a competitive edge when bidding on Davis-Bacon,
    Prevailing Wage or Service Contract jobs.

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We know it can be difficult trying to understand all of the legal regulations for your retirement plan.
We're here to assure that everything goes by procedure.
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We can customize your qualified plan per your requirements.

401k Plan

A qualified plan established by employers where eligible employees may make elective deferral’s (salary reduction) contributions on a post-tax and/or pre-tax basis
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ER Match Plan

An employer contribution that may match the employee’s elective deferral (salary reduction) contribution up to a certain dollar amount or percentage of compensation.
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Profit Sharing Plan

A defined contribution plan that allows employers to give employees a share in the profits of the company. Each employee receives a percentage of those profits based on the company’s earnings.
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Comparability Plans

A profit sharing plan in which the employees are divided into groups, with each group receiving a contribution that is a different percentage of compensation. Such as, the owners in one group, project managers in a second group, clerical staff in a third group and field staff in fourth group.
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Safe harbor 401K

Non-Elective – A Mandatory employer contribution equal to 3% (of W-2 wages) for all eligible employees. Eligible employees are those that have met the Plan’s eligibility requirements
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Safe Harbor

Match ~ A mandatory employer contribution for all eligible employees in the amount of 100% of the first 3% of Salary Deferral plus 50% of the next 2% of Salary Deferral. No contribution is made for employees not making a Salary Deferral.
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Frequently Asked Questions

Learn more about Davis-Bacon Pension Plans with our FAQ’S.

What Is The Davis-Bacon Act?

The Davis-Bacon Act of 1931 requires any contractor or subcontractor performing work on a federal government construction contract or federally assisted construction contract over $2,000, to pay their workers on-site not less than the local prevailing wages and fringe benefits paid on similar projects as determined by the Secretary of Labor. The act named after James J. Davis a Senator from Pennsylvania and Representative Robert L. Bacon of Long Island New York, was signed into law by President Hebert Hoover on March 3, 1934 as a way of providing some market stability in an inherently unstable construction industry.

What Is A Little Davis-Bacon Job?

Several States have their own rules for paying prevailing wages for State contracted public works projects these are known as “Little Davis-Bacon” jobs. The bid spec provided by the awarding agency will represent which wages and rules you will follow whether you are Federally contracted in a Davis-Bacon job or a State contracted Little Davis-Bacon job.

What Is A Service Contract?

The McNamara-O’Hara Service Contract Act (SCA) applies to every contract entered into by the United States or the District of Columbia, the principal purpose of which is to furnish services through the use of service employees. The SCA requires contractors and subcontractors performing services on covered federal contracts in excess of $2,500 to pay service employees in various classes no less than the local prevailing wage rates and to furnish fringe benefits found prevailing in the locality. Safety and health standards also apply to such contracts.

What Is The Davis-Bacon Pension Plan & Trust?

It is an IRS Approved Retirement Program designed specifically for open shop contractors who work on Davis-Bacon, State Prevailing Wage Jobs or Service Contracts.

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Calculate Your Savings

Estimate your savings using the Davis-Bacon Pension Plan & Trust today! We have become one of the industry leaders by providing personal service,not expensive service. Calculate Now

Our Services

Plan Design

Plan design including eligibility requirements, vesting, timing of contributions, service crediting method, treatment of forfeitures, and any other features required to meet your objectives.
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Plan Documents & Maintenance

Create and maintain documents as required by the IRS.
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Employer Contribution Calculations

Calculate Employer contributions including, Match, Safe Harbor and Profit Sharing
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Compliance Testing

Satisfy IRS Nondiscrimination and Coverage requirements, plus annual contribution limits
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Plan Administration

Process participant distributions including, loans, hardship, in-service and Qualified Domestic Relations Orders
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Form 5500 Filings

Prepare your Form 5500 and related schedules
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Employee Benefits

Employee Prevailing Wage Plan Benefits

Participation in the Davis-Bacon Pension Plan & Trust means employees also save the amount which they otherwise would have paid to FICA or income tax on their Fringe Benefits. In addition to tax savings, employees accumulate tax-deferred earnings on their total Trust deposit. These funds will not be taxed until withdrawn, usually at retirement, which occurs without IRS penalties after age 59 1/2.

Employee Account Accumulation

Based on $8.00/hr Fringe Rate
for 1,600 hours ($12,800/yr)

Assumed Rate of Return 8%:

After 10 Years $ 92,000
After 20 Years $292,000

Approximate Tax Savings Based on $12,800 Deposit Amount

Social Security = $ 979.20
Income Tax = $3,484.00
Taxes Saved = $4,536.20