Topic Thread

The Contractors Plan

  • 1.  The Contractors Plan

    Posted 10-09-2018 12:49
    ​Anyone use The Contractors Plan that could give me some feedback on them, particularly on the 401k?  We are a union contractor.

    Denise Day CPA
    Phillips Hardy Inc.
    Boonville MO
    (660) 834-3030

  • 2.  RE: The Contractors Plan

    Posted 10-11-2018 10:32
    ​When I was the controller for a heavy civil contractor a few years ago we implemented the Contractors Plan as a tool to decrease the burden on prevailing wage fringes. At first the employees were "up in arms" as they had been receiving the fringes in cash. However, after several months they liked the amount of money they were seeing in their portfolio and happy they could draw out the money when they were laid off. I recommend the Contractor's Plan as an investment tool for depositing employee's prevailing wage fringes.

    Cynthia Walters CCIFP
    Project Cost Accountant
    CTI and Associates, Inc.
    Northville MI
    (313) 418-4423

  • 3.  RE: The Contractors Plan

    Posted 10-11-2018 22:04

    I haven't used The Contractors Plan, but what I've seen is their fees likely are not competitive with other plans.

    Kevin Halme
    Constructive Tech Solutions
    Omaha, NE