The Contractors Plan
The Contractors Plan is a benefits administration platform that administers retirement, health, and specialty benefit plans for U.S. construction and service contractors subject to Davis-Bacon and Service Contract Act prevailing wage requirements, serving 1,500+ employers and 64,500+ workers via a $2 billion retirement program.
- Company typePrivate
- Founded1983
- HeadquartersAustin, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What The Contractors Plan does
The Contractors Plan is a benefits administration platform and division of privately held Fringe Benefit Group, Inc., headquartered in Austin, Texas. Founded in 1983 as the first U.S. company to offer benefit plans for prevailing wage workers, the platform administers retirement, health, and specialty benefits for contractors subject to the Davis-Bacon Act, Service Contract Act, ACA, and approximately 32 state-level "Little Davis-Bacon" prevailing wage laws. The firm's retirement plan program holds $2 billion in assets and serves nearly 1,500 employers and more than 64,500 American workers, with more than 150,000 participants nationwide across all benefit lines.
The product portfolio is modular: core products include Basic Prevailing Wage Plan, 401(k), Roth 401(k), Safe Harbor 401(k), Profit Sharing, and New Comparability retirement plans; major medical through multiple employer trusts; supplemental, specialty, HRA, and globally portable expatriate coverage; and 15 supporting administration modules covering 24/7 portal enrollment (MyContractorsPlan), Dynamic Plan Cart fringe allocation, Hour Banking, Reserve Accounting, 5500 preparation, discrimination testing, audit support, loan program administration, and payroll integration with Foundation Software, Payroll4Construction.com, QuickBooks, ADP, Paychex, and Penta. Compliance coverage extends to Davis-Bacon, Service Contract Act, ERISA, ~125 municipal living/responsible wage ordinances, and state DOL regimes.
Revenue is generated through bundled hourly-rate administration fees, commissions from carrier placements with United Healthcare, Blue Cross/Blue Shield, Kaiser Permanente, Health Net, Transamerica, MetLife, and Ameritas, and shared-revenue arrangements with a nationwide network of independent broker-producers. Go-to-market combines the producer channel, direct corporate sales, trade association partnerships (ABC, ASA, PDCA, IEC, CICPAC), and online self-service. The wholly-owned subsidiaries Fringe Re, LLC (reinsurance) and Fringe Insurance Benefits, Inc. (insurance administration) extend adjacent capabilities. Customer base is concentrated in U.S. construction and service contractors, primarily mid-market and SMB employers across general construction, specialty trades (glass, drywall, painting, electrical, traffic control), and trucking.
The Contractors Plan firmographics
Firmographics- Name
- The Contractors Plan
- Legal name
- The Contractors Plan
- Website
- https://contractorsplan.com
- Company type
- Private
- Founded year
- 1983
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- The Contractors Plan is a benefits administration platform that administers retirement, health, and specialty benefit plans for U.S. construction and service contractors subject to Davis-Bacon and Service Contract Act prevailing wage requirements, serving 1,500+ employers and 64,500+ workers via a $2 billion retirement program.
- Ownership category
- akta.pro rank
The Contractors Plan industry classification
Industry- Product category
- Employee Benefits Administration
- akta.pro primary industry
- Contractor Benefits & Perks Administration (BPACAGAJ)
- akta.pro secondary industries
- Independent Contractor Compliance & Classification (IC vs Employee) (BPACAGAA), Agent of Record (AOR) / Contractor Engagement Services (BPACAGAB), Time, Expense & Timesheet Management for Contractors (BPACAGAK)
Keywords
Where The Contractors Plan is headquartered
LocationHeadquarters
- HQ city
- Austin
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
The Contractors Plan business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Benefits Administration Services: The company generates revenue through fees for comprehensive benefits administration services including enrollment, billing, eligibility management, compliance reporting (5500 preparation, discrimination testing), COBRA administration, and audit support. Revenue is derived from employers who pay for administration of their prevailing wage benefit programs.
- Insurance Product Distribution: Revenue is generated by arranging health, retirement, and specialty benefit insurance products through carrier partnerships. The company acts as an intermediary between insurance carriers (United Healthcare, Blue Cross, Transamerica, etc.) and employer clients, earning commissions or fees for placing coverage.
- Producer/Broker Compensation: The company works with hundreds of producers (brokers) who earn commissions on benefits products sold. The company offers flexible and competitive selling agreements with monthly compensation, sharing revenue with channel partners.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Custom benefit plan pricing based on employer needs |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels7 records
The Contractors Plan product offering
Product offeringCore offering
The Contractors Plan designs, administers, and services health, retirement, and specialty benefit plans specifically for government contractors subject to Davis-Bacon and Service Contract Act prevailing wage requirements. The company combines a cloud-based enrollment/administration portal with insurance product distribution, payroll integration, and regulatory compliance services (5500 preparation, discrimination testing, DOL/IRS audit support) for construction and service contractors.
Product overview
The Contractors Plan is a comprehensive benefits administration platform designed specifically for government contractors working on Davis-Bacon and Service Contract Act jobs. The platform operates as a modular system combining a web-based portal (MyContractorsPlan) with multiple product categories and services. The core product portfolio includes Retirement (Basic Prevailing Wage Plan, 401(k), Roth 401(k), Safe Harbor 401(k), Profit Sharing, New Comparability), Major Medical, Supplemental Medical, Specialty Benefits, Expatriate Coverage, and HRA. The Benefits Administration suite provides 15 supporting modules including Easy-to-use Portal, Tracking & Reports, Plan Design & Consulting, Total Fringe, Administrative Services Only, Hour Banking, Reserve Accounting, Coverage & Discrimination Testing, 5500 Preparation, Missed Premium Collection, Employee Education, Plan Investments, Links to Your Payroll System, Audit Support, and Loan Program Administration. The Compliance category covers Davis-Bacon Act, Service Contract Act, Living and Responsible Wage Ordinances, ERISA, and State Department of Labor requirements. The company leverages strategic partnerships with insurance carriers (United Healthcare, Blue Cross Blue Shield, Kaiser Permanente, Health Net, MetLife, Ameritas, Transamerica) and technology partners (LeafHouse Financial, ERISA Smart, Foundation Software, e-Mars) to deliver its solutions. Since 1983, The Contractors Plan has focused exclusively on prevailing wage contractors and is a division of Fringe Benefit Group headquartered in Austin, Texas.
Differentiator
Problem solved
Functional benefit
Products and services
- Prevailing Wage Retirement Plans Retirement plans tailored to prevailing wage contractors, including Basic Prevailing Wage Plan, 401(k), Optional Roth 401(k), Safe Harbor 401(k), Discretionary Match, Profit Sharing, and New Comparability designs. Plans maximize contributions for highly compensated employees while passing IRS nondiscrimination testing and are administered under a master trust arrangement.
- Major Medical Coverage Medical coverage tailored for prevailing wage contractors, addressing multiple job sites, rapid employee turnover, multiple employee classes, seasonality, job interruptions, and complex compliance burdens. Offered through multiple employer trust arrangements with major carriers.
- Supplemental Medical Coverage Gap coverage, secondary coverage, and limited medical coverage options that offset costs between high-deductible insurance and employee out-of-pocket expenses. Offered through Nationwide and Standard Security Life.
- Specialty Benefits Additional employee protection benefits including Dental Insurance, Short Term Disability Income Protection, Vision Insurance, Long Term Disability Income Protection, Critical Illness, Group Term Life Insurance/AD&D, Gap Insurance, and Employee Assistance Plans (EAP).
- Expatriate Coverage Globally portable benefits plan for international employees including expatriates, third country nationals, local nationals, key local nationals, and inpatriates. Includes group medical, life, disability, specialty benefits, special risk coverage, medical evacuation, and international EAP.
- Health Reimbursement Account (HRA) Tax-qualified health plan allowing employees to pay for uninsured medical expenses including deductibles, co-pays, and out-of-pocket costs. Funds roll over year-to-year, and terminating employees can continue submitting claims.
- Hour Banking Per-hour rate system for health coverage that simplifies accounting for multiple job sites, trades, and fringe rates. Employees can bank hours during peak work periods to extend coverage during slow periods and work stoppages.
- Reserve Accounting Per-employee reserve accounts that accumulate excess fringe to maintain core medical benefit eligibility during slow periods or work stoppages. Once one month of core medical premium is positioned in reserve, excess shifts to retirement or HRA.
- Administrative Services Only (ASO) Wrap-around benefits administration engine for employers with existing major medical plans. Provides single-source enrollment, full compliance reporting, and ability to build in specialty benefits, supplemental medical, HRA, and retirement around the current medical offering.
- Total Fringe Administration Turnkey solution that combines the cost of all coverages into one hourly rate, allocates fringe and employer contributions to each benefit plan, pays and reconciles invoices with all carriers, and administers all programs.
- Plan Design & Consulting In-house plan design expertise to create customized fringe benefit plans, including medical coverage meeting ACA minimums, retirement plan options, and solutions for varying prevailing wage work volumes.
- MyContractorsPlan Online Portal Customized online benefits enrollment and management platform enabling employees to enroll 24/7, view coverage information, view and print history, pay missed premiums, and manage their benefits array. Features the proprietary Dynamic Plan Cart tool for fringe allocation scenarios.
- Loan Program Administration Retirement loan program that sets up loans directly between the benefits plan and employee, removing employer from loan administration, allowing employees to continue payments if terminated, and offering lump sum or loan line of credit options.
- DOL/IRS Audit Support Audit support including response design, report and documentation retrieval, and representation. Includes a Washington DC representative who can speak to auditors on behalf of clients at no additional cost.
- Form 5500 Preparation & Filing Form 5500 preparation and delivery service, signature-ready for electronic filing via E-FAST2. Also directly files Form 5500 for the Master Retirement Trust.
- Coverage & Discrimination Testing Annual testing service ensuring retirement plans and HRAs comply with IRS requirements that plans do not favor highly compensated employees over lower-paid counterparts.
- Tracking & Reports Secure online portal feature providing robust reporting including employee enrollment, terminations, COBRA enrollees, court order enrollments, aggregated account premiums, and active plan elections. Data exportable to Excel.
Companies that use The Contractors Plan
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles4 records
The Contractors Plan technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
Feature5 records
The Contractors Plan partnerships and signals
Strategic signalPartnerships
19 partnerships are on record, tiered core and supporting.
- United Health CarecoreMajor medical insurance provider offering health and well-being products. Provides coverage options for The Contractors Plan's employer clients across various plan types.
- Blue Cross and Blue ShieldcoreNational association of 37 independently operated Blue Cross and Blue Shield member companies serving collective needs. Provides quality and affordable healthcare coverage.
- Insurers Administrative CorporationsupportingOne of the nation's largest third-party administrators serving employer needs in medical, dental, life, AD&D, critical care, self-funding, 401(k), Section 125 and Hour Bank plans.
- Kaiser PermanentesupportingNot-for-profit health plan serving approximately 8.9 million members in nine states and DC. Committed to high-quality, affordable health care services.
- Health NetsupportingPublicly traded health care provider serving over 5.4 million individuals. Delivers quality networks of medical providers through HMO or PPO solutions.
- Transamerica Retirement SolutionscoreOne of the nation's top providers of retirement plans offering customized retirement plan solutions designed for growing business needs. Expanded collaboration announced October 2024.
- LeafHouse FinancialcoreServes as the 3(38) discretionary investment manager for the Contractors Retirement Plan Master Trust. Provides proprietary technology to prudently select, evaluate, and monitor investments in the best interests of plan participants.
- ERISA Smart, Inc.coreServes as the Directed Trustee for the Contractors Retirement Plan Master Trust. An ERISA Risk Management Company providing compliance consulting and services related to retirement plan operations.
- AmeritassupportingGroup division of Ameritas Life Insurance Corp. providing dental and vision care products and services for nearly 110,000 employer groups, insuring or administering benefits for more than 5.4 million people.
- MetLifesupportingLeading global provider of insurance and employee benefit programs serving 90 million customers. Offers employers flexible benefit plan designs for dental, vision, life and other benefits.
- Transamerica Employee BenefitssupportingPart of Transamerica companies helping customers create better futures. Provides insurance products employees can depend on through The Contractors Plan.
- Foundation SoftwarecoreDeveloped Foundation for Windows - job cost accounting, project management and scheduling software for contractors. Endorsed by CPAs with strong payroll and job costing capabilities.
- Payroll4Construction.comcorePayroll service designed specifically for construction. Helps prevailing wage contractors eliminate payroll processing hassles with certified payroll and construction reporting included free.
- Compliant Client by e-MarssupportingWeb-based service that certifies electronic prevailing wage payrolls for Davis-Bacon Act, California DIR, Washington State L&I, and Multi-State AASHTO requirements.
- Associated Builders and Contractors (ABC)supportingNational trade association representing 22,000+ members from 19,000+ construction firms. Founded on merit shop philosophy, ABC helps members win work and deliver it safely and profitably.
- American Subcontractors Association (ASA)supportingFounded in 1966, amplifies voice of trade contractors to improve business environment for construction industry. Vision is to be united voice dedicated to improving the business environment.
- Construction Industry CPAs/Consultants Association (CICPAC)supportingGo-to resource for over 11,000 construction companies with 900+ professionals at 75 accounting firms who are CPAs Who Know Construction.
- Painting and Decorating Contractors of America (PDCA)supportingServes coating and wall covering industry with standards, education, training, advocacy, and best practices. Nearly 2,000 contractor members in America and Canada since 1884.
- Independent Electrical Contractors (IEC)supportingTrade association representing 3,000 members with 53 chapters nationwide. Premier association for America's independent electrical and systems contractors.
Scale indicators4 records
Recent moves6 records
Expansion highlights6 records
The Contractors Plan competitors and assessment
Company assessmentMarket position
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
The Contractors Plan social profiles
Digital presenceThe Contractors Plan financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Contractors Plan leadership team
Management profileNumber of profiles
Profiles5 records
The Contractors Plan subsidiaries and ownership
Company hierarchySubsidiaries2 records
The Contractors Plan funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Contractors Plan M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about The Contractors Plan
What does The Contractors Plan do?
The Contractors Plan designs, administers, and services health, retirement, and specialty benefit plans specifically for government contractors subject to Davis-Bacon and Service Contract Act prevailing wage requirements. The company combines a cloud-based enrollment/administration portal with insurance product distribution, payroll integration, and regulatory compliance services (5500 preparation, discrimination testing, DOL/IRS audit support) for construction and service contractors.
Is The Contractors Plan a public or private company?
The Contractors Plan is a private company. It is classified as corporate owned and is currently operating.
When was The Contractors Plan founded?
The Contractors Plan was founded in 1983. It employs 1 to 10 people.
Where is The Contractors Plan based?
The Contractors Plan is headquartered in Austin, United States, in the North America region.
How does The Contractors Plan make money?
Three revenue lines are on record. Benefits Administration Services are the primary driver. The others are insurance Product Distribution and producer/Broker Compensation.
Does The Contractors Plan have an API?
No public API is recorded for The Contractors Plan.
What industry is The Contractors Plan in?
The Contractors Plan's product category is Employee Benefits Administration. Its primary akta.pro industry code is BPACAGAJ, Contractor Benefits & Perks Administration, with a secondary code of BPACAGAA, Independent Contractor Compliance & Classification (IC vs Employee).