Beneco

What Beneco does

Beneco is a U.S.-based third-party administrator and employee benefits specialist focused exclusively on construction contractors performing prevailing wage work under the Davis-Bacon Act, Service Contract Act (SCA), and state and federal Public Works requirements. Founded around 1987 and headquartered in Scottsdale, Arizona, the company has spent nearly four decades building regulatory expertise in fringe benefit allocation, certified payroll reporting, and prevailing wage compliance. It operates as a core subsidiary within FuturePlan by Ascensus following Ascensus's August 2019 acquisition from Alpine Investors.

Name

Beneco

Legal name

Beneco

Website

https://beneco.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

11–50 employees

Short description

Beneco provides retirement, health, and ancillary benefits administration exclusively for U.S. construction contractors performing prevailing wage work under Davis-Bacon, SCA, and Public Works requirements, operating within FuturePlan by Ascensus.

Ownership category

akta.pro rank

Product category

Employee Benefits Administration

NAICS

Insurance and Employee Benefit Funds (5251), Health and Welfare Funds (525120), Payroll Services (541214)

SIC

Services-Management Consulting Services (8742), Finance Services (6199)

akta.pro primary industry

Benefits Administration (BPACAPAC)

akta.pro secondary industries

Contractor Benefits & Perks Administration (BPACAGAJ), Employer Retirement Plan Advisory (401(k)/Pension) (FSAEABAE), Retirement Plan Participant Advice & Managed Accounts (FSAEABAF), Employee Benefit & Retirement Plan Trust Services (FSAAANAC), Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK)

Keywords

• Prevailing wage benefits
• Retirement plan administration
• Third-party benefits administration
• Davis-Bacon compliance services
• Construction contractor benefits

Headquarters

HQ city

Scottsdale

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Third-Party Administration (TPA) Services: Beneco provides plan design, administration, and compliance services for retirement plans, health and welfare benefits, and prevailing wage fringe benefit programs for contractors. Services include recordkeeping, compliance support, and employee benefits consulting.
2. Employee Benefits Consulting: Consulting services for employee benefits including retirement solutions, medical solutions, life insurance, and compliance services for prevailing wage contractors.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Beneco provides third-party administration, consulting, and recordkeeping services for retirement plans, medical benefits, life insurance, HR, and compliance programs tailored to construction contractors performing prevailing wage work under the Davis-Bacon Act, Service Contract Act (SCA), and Public Works projects. Its flagship offering is a proprietary 3-in-1 Retirement Plan that allows contractors to fund retirement benefits using prevailing wage fringe dollars alongside profit sharing and traditional 401(k) contributions, delivered through a cloud-based platform with employee and employer portals.

Product overview

Beneco offers a unified platform of employee benefits and retirement solutions specifically designed for prevailing wage contractors. The core offering centers on the proprietary 3-in-1 Retirement Plan (combining Prevailing Wage fringe funding, Profit Sharing, and Traditional 401(k)), supplemented by Medical Solutions (major medical, HRAs, dental, vision) and Group Whole Life Insurance. The platform also provides tools like the Fringe Savings Calculator, an employee portal, and services including HR Solutions, Compliance Services, and TPA. Beneco is part of FuturePlan by Ascensus, providing plan design, administration, and compliance services for contractors working on Davis-Bacon, SCA, and Public Works projects. The company has partnered with over 1,000 contractors for nearly 40 years.

Differentiator

Problem solved

Functional benefit

Products and services

• Prevailing Wage Solutions Comprehensive employee benefits consulting, recordkeeping, and TPA services for construction contractors performing work subject to Davis-Bacon, SCA, and Public Works prevailing wage requirements.
• 3-in-1 Retirement Plan Proprietary retirement plan for prevailing wage contractors that combines Prevailing Wage fringe funding, Profit Sharing, and Traditional 401(k) components, allowing contractors to fund benefits with fringe dollars, increase participation, avoid corrective distributions, and potentially eliminate Safe Harbor contributions.
• 401(k) Plan Traditional 401(k) retirement plan allowing voluntary elective deferral contributions with access to premium investment options and technology-backed security standards, available to contractors alongside the 3-in-1 plan.
• Medical Solutions Carrier-neutral medical benefits platform comparing options from multiple carriers to deliver major medical, Health Reimbursement Accounts (HRAs), dental, and vision plans tailored to contractor needs and budgets.
• Group Whole Life Insurance Permanent whole life insurance for contractors, providing lifetime protection, guaranteed death benefits, guaranteed cash value growth, and level premiums for life.
• Fringe Savings Calculator Interactive online tool that calculates potential payroll cost savings from strategically routing prevailing wage fringe dollars into benefit contributions rather than taxable cash wages.
• Employee Portal Bilingual employee portal that allows plan participants to manage their retirement benefits and access financial security resources, available in English and Spanish.

Quantifiable outcome

• Over 1,000 contractors have joined Beneco for prevailing wage solutions
• +2 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• HammrcoreTechnology or Integration · 24 February 2026Beneco announced a strategic partnership with Hammr to help streamline payroll and prevailing wage compliance for contractors. The partnership integrates Beneco's prevailing wage benefits expertise with Hammr's payroll technology solutions.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• FuturePlan by Ascensus: Beneco's sister line of business under Ascensus, providing bundled retirement and health/welfare plan administration across many verticals. FuturePlan offers the same TPA-style services but serves a broader customer mix, making it the closest internal comparable for Beneco's core retirement and benefits administration capabilities.
• OneDigital: Large U.S. benefits brokerage and PEO serving employers across industries with consulting, retirement, and health/welfare administration. OneDigital is comparable to Beneco as an employer-facing benefits and retirement solution provider, though without prevailing-wage specialization.
• Paychex: Major SMB-focused payroll, HR, and benefits administration provider with retirement plan services (Paychex Retirement Services). Comparable to Beneco as a small-business benefits TPA, with overlap on retirement plan administration for construction clients, though at much broader scale and without prevailing-wage specialization.
• ADP TotalSource: ADP's PEO/RPO division offering co-employment, payroll, benefits, and HR administration to SMBs across the U.S. Comparable to Beneco as an outsourced benefits and HR administration solution for small employers, with overlapping capabilities in retirement, medical, and compliance support.
• TriNet: PEO providing co-employment, benefits, payroll, and HR administration primarily to small and mid-sized businesses. Comparable to Beneco as an SMB-focused bundled benefits and HR outsourcing provider, with overlap on retirement and health plan administration for U.S. employers.

Direct peers

• LCPtracker (Lanteria): Construction-industry software purpose-built for prevailing-wage compliance and certified payroll reporting. LCPtracker targets the same construction-contractor buyer that Beneco serves, and the two are frequently discussed as complementary tools, making it a directly adjacent peer.
• Prime Pensions & 401(k) Advisors: Boutique retirement plan administration and advisory firm serving small and mid-sized employers, including construction contractors. Directly comparable to Beneco as a niche 401(k) and retirement plan TPA competing for the same contractor buyer, with a similar vertical emphasis on construction.
• Sequoia (Acrisure Retirement Solutions): Specialized retirement plan consulting and administration firm serving plan sponsors across industries. Comparable to Beneco as a focused retirement-plan TPA competing for the same contractor/employer buyer, with similar employer-direct sales motion.

Emerging players

• HealthEquity: Leading HSA, HRA, and consumer-directed benefit account administrator. Comparable to Beneco's HRA/medical offerings where Beneco's Fringe Savings Calculator and HRAs are positioned; HealthEquity represents the larger, more specialized alternative employer plans may compare against.

Regional players

• IBS Payroll Plus / Integrated Benefit Solutions: Regional benefits and payroll administration firm focused on multiemployer and union-related benefit plans, with overlap to prevailing-wage/MEP-style construction benefit structures. Comparable as an admin and consulting peer in adjacent construction/MEP markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/andrew-stohl-0038ab68

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Beneco