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Payroll Savings

Calculate Your Savings

Fringe BenefitsTypical Payroll Taxes
FICA 7.65%
Workman’s Comp* 15.00%
FUTA 1.60%
SUTA 1.40%
25.65%
25.65% is the approximate additional payroll cost
when paying fringe dollars as cash wages

Sample Calculation
Assume XYZ Construction Company has 15 employees doing Prevailing Wage work. These employees work approximately 1000 hours each per year. The Fringe amount above base rate is $10 / hour.
15 employees X 1000 hours = 15,000 Total hours
15,000 hours X $10.00 = $150,000 in Additional Payroll
$150,000 X 25.65% = $38,475 in savings if the Fringe is deposited to the Prevailing Wage Pension Plan