Employee Prevailing Wage Plan Benefits

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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 These funds will not be taxed until withdrawn, usually at retirement, which occurs without IRS penalties after age 59 1/2.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