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.”
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