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"You asked, we answered. Our clients are concerned about compliance. With DOL penalties becoming more frequent and substantial, now is the time for a strategic partner to protect your bottom line.
WASHINGTON, DC, May 03, 2022 /24-7PressRelease/ -- GovConPay, the sole provider of outsourced payroll and HR technology solutions solely dedicated to the contractor marketplace, has partnered with FCE Benefit Administrators, Inc., a full-service Third-Party Administrator (TPA) and employee benefits firm specializing in the design, implementation, and administration of compliant cost-effective fringe benefit plans for government contractors. Their collaboration creates custom turnkey technology solutions to protect and elevate best in class government contractors.
Industry experts estimate that at least 50 percent of government contractors are currently out of compliance with Department of Labor (DOL) requirements and are at risk of losing millions of dollars in fines and penalties if they, or their subcontractors, are not compliant with DOL requirements. According to the Economic Policy Institute, DOL's Wage and Hour Division recovered $230 million in back wages for workers in fiscal year 2021. In February of 2022, the DOL issued a press release announcing it is building out its enforcement team nationwide. "Adding 100 investigators to our team is an important step in the right direction," said Acting Wage and Hour Administrator Jessica Looman. "We anticipate significantly more hiring activity later in fiscal year 2022."
"You asked, we answered," stated GovConPay President Joe Young in front of hundreds of Unanet Champions Conference attendees. "We listened to our clients across the country who are concerned about SCA compliance. With penalties and sanctions becoming more frequent and often substantial, now is the time to put a strategic partner to work for you and your bottom line. We can help you avoid the costly consequences of an in-house compliance model and understand the nuances of service contracts."
"We work strategically with government contractors to custom build technology to keep them compliant," stated Kelley Lloyd, FCE Benefits VP of Sales. "We create that perfect piece of the puzzle that has been so elusive, enabling government contractors to focus on growing the business, eliminating the compliance headache."
About GovConPay & FCE's UX
Due to its focused approach and the creation of custom solutions to connect its sophisticated payroll and HR technologies with DCAA-compliant ERP systems, GovConPay aligns with FCE Benefit Administrators to provide government contractors who are required by law to give fringe benefits to their employees who are frequently encumbered with additional management and financial reporting responsibilities. When done appropriately, outsourcing these duties like payroll, applicant tracking, onboarding, human resources, benefits, and tax management in one IT People Platform to manage the whole employee life cycle, is the best option. A Third-Party Administrator can alleviate the strain and allow a company to concentrate on its core skills. Most federal contractor executives are experiencing hiring, payroll, and human resources challenges. In fact, recruiting is cited as a major source of frustration by 80 percent of C-suite government contractors. GovConPay and FCE, offer a proven turnkey solution which simplifies systems and enhances efficiency.
GovConPay helps federal government contractors grow with outstanding service and a unified Payroll, Applicant Tracking/Onboarding, HR, Benefits and Tax Management technology platform that seamlessly integrates with DCAA compliant, industry-specific ERP software, such as Unanet. GovConPay is the first and only Payroll/HCM company wholly dedicated to serving government contractors. GovConPay is a proud partner of The SEAL Legacy Foundation is a 501(C)(3), nonprofit organization dedicated to providing support to families of wounded and fallen United States Navy SEALs, educational assistance for SEALs and their families, and other charitable causes benefiting the SEAL community. Learn more at www.govconpay.com.
About FCE Benefits
FCE Benefits is a full service TPA specializing in the design, implementation, and administration of comprehensive H&W Fringe Benefit packages for Government Contractors subject to the Service Contract Act, Davis Bacon Act and Prevailing Wage Legislation. For nearly 35 years, FCE's services include Health and Welfare Fringe compliance and hour tracking. FCE works with Contractor's to customize and tailor hourly driven Full Time and Part Time H&W Benefits that keep Government Contractors in compliance with the SCA, ERISA, and the ACA. FCE's plans are easy to implement, ensure compliance and increase employee retention.
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