General Inquiries

Davis Bacon Fringes - PTO accrued

  • 1.  Davis Bacon Fringes - PTO accrued

    Posted 03-06-2019 13:41
    We back out company provided fringes from the Davis Bacon Fringes required. Our field employees accrue PTO weekly their first two years, however it is not available to use until after 120 days of employment. We have been waiting until it is available to the employees before counting it as a company provided fringe, are we allowed to count this upon date of hire since it is accumulating weekly?

    David Helms CCIFP, CPA
    Cullum Mechanical Construction, inc.
    North Charleston SC
    (843) 576-2650

  • 2.  RE: Davis Bacon Fringes - PTO accrued

    Posted 03-07-2019 07:29
    Yes, as long as your policy is in writing and the benefit is not forfeitable. No use it or loose it provisions.

    Jeffrey Bennett MBA
    Albany NY
    (518) 362-2119

  • 3.  RE: Davis Bacon Fringes - PTO accrued

    Posted 03-07-2019 15:01
    ​I believe PTO benefits must vest to be able to consider them as a Davis Bacon Fringe benefit.  Do you pay employees for unused PTO at the end of the plan year or upon termination?

    Susan Milner
    Corporate Controller
    Eldeco Inc.
    Greenville SC
    (864) 312-9896

  • 4.  RE: Davis Bacon Fringes - PTO accrued

    Posted 03-07-2019 15:36
    Hi David,

    CFMA hosted a webinar yesterday on this very topic titled.  The webinar, titled Davis Bacon Ins and Outs: Prevailing Wage Compliance presented by Sam Melamed of ABC Insurance Trust, is available in your CFMA account if you're a CFMA member, if you are not a member, you can purchase the recording on-demand.
    Construction Financial Management Association  
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    Susan Madden
    Manager, Education Dept.
    Princeton NJ
    (609) 452-8000