Subject: Prevailing Wage Cost Savings
Signatory Contractor vs. Non-Signatory Contractor
Sample based on 10 employees working 40 hours per week
Hourly Wage: $36.34 per hour plus $4.87 vacation plus $.50 annuity for a total of $41.71/Hour Effective July 1, 2019
| Signatory Contractor | |
| 40:00 Hours times 10 laborers times $36.34 | $14,536.00 |
| 40:00 Hours times 10 laborers times $4.87 | $1,948.00 |
| 40:00 Hours times 10 laborers times $.50 | $200.00 |
| Gross Wages – Signatory Contractor | $16,684.00 |
|
|
|
| Non-Signatory Contractor | |
| 40:00 Hours times 10 laborers times $36.34 | $14,536.00 |
| 40:00 Hours times I0 laborers times $4.87(VAC) | $1,948.00 |
| 40:00 Hours times 10 laborers times $7.47(H & W) | $2,988.00 |
| 40:00 Hours times 10 laborers times $8.40(Pension) | $3,360.00 |
| 40:00 Hours times I0 laborers times $.69 (Training) | $276.00 |
| 40:00 Hours times 10 laborers times$ .86 (Other) | $344.00 |
| Gross Wages – Signatory Contractor | $16,684.00 |
| Gross Wages – Non-Signatory Contractor | $23,452.00 |
|
|
|
| Employer Taxes | |
| Social Security 6.2 % | $1,034.41 |
| Medicare 1.45% | $241.92 |
| Unemployment (6.2% up to $7,000 per ee per yr) | $1,034.41 |
| Workers Comp. lns. 74% (90%-16%) | $12,346.16 |
|
|
|
| Fringe Benefits: | |
| Health & Welfare | $2,988.00 |
| Pension | $3,360.00 |
| Training | $276.00 |
| TOTAL | $38,308.39 |
|
|
|
| Weekly Cost on 40 hours/week | |
| Signatory Contractor | $38,308.39 |
| Non-Signatory Contractor | $44,054.38 |
|
|
|
| Weekly Savings | $5,745.69 |
| Monthly Savings | $22,982.75 |
| Yearly Savings | $298,775.78 |
Project Info
Maximize Your Project Research and Business Development Efforts
Stop sifting through hundreds of bid opportunities and reams of project information for the handful of alerts that fit your companies capabilities.
Start getting actionable information tailored to your company’s interests and capacities, along with project information not captured by leading construction industry data providers.
Access your own secure, online business development site that enables you to track the projects important to you, and that automatically updates those projects with the latest data.
Project Alerts – Your Way –
LiUNA and the Laborers – Employers Cooperation and Education Trust offer a way to cut through the clutter and noise of hundreds of project alerts to get you timely information on projects important to you.
Give us a little information about your company and we will give you a world of opportunities.
LiUNA and LECET offer signatory contractors a powerful new tool with which to pursue projects and jobs: the LECET Business Advantage (LBA).
- Project Alerts tailored to your location, type of work, and desired project size.
- Secure, online alert management and project tracking.
- Business news tailored to your interests.
Projects That the Others Miss
LiUNA and LECET can also use LBA to find contractors that meet certain qualifications and alert them to bid opportunities not captured by construction industry data services. So when we hear of something of interest to you, you’ll hear about it too.
Secure, Online Access
LBA users can access the contractor portal of LECET’s Market Expansion Program to view their profiles, receive industry news tailored to them, track and manage project alerts, and research specific markets.
