Making history for over 20 years

Beneco has worked with contractors for some time, they discovered the unique aspects that they could provide to contractors performing work on prevailing wage construction projects. Initially, the early years of BENECO’s plan brought these unique and cost-saving benefits to the employees of construction firms who worked in the public works arena. Soon thereafter, the owners and principals of these companies who were using BENECO’s prevailing wage plans began asking Beneco to design and administer a plan that would also benefit the office personnel as well.

It was at this stage that Beneco began developing cutting edge plan design that met the Internal Revenue Service guidelines as well as prevailing wage guidelines that  would launch the company into the broader Qualified Benefit plan marketplace, and Beneco became the innovator in this industry for the combining of prevailing wage design with conventional retirement plans. The “401-PW” plan became a catch word in the industry and was created by Beneco to describe the uniqueness of what we did.

The second major plan design phase began to develop when BENECO was asked by increasing numbers of clients as to the interest in designing, administration and marketing of this unique cutting edge plans for companies outside of the construction industry. This meant competing in an entirely new area and therefore required us to be innovative in what our plans would provide that others in the industry do not, such as full ERISA compliance including 404(a) and 404(c) among other major areas of design and administration.

Since 1986, BENECO plans have received in excess of $1 Billion in pension and health and welfare contributions from over 2,000 company clients with over 500,000 participants living in all 50 states.

Beneco has offices in three states with full time staff dedicated to every aspect of plan design, administration, recordkeeping, employee communications and ongoing client and employee meetings - as well as individual account relationship personnel for every company client we have - anywhere in the United States.

BENECO has been, from the beginning, a company dedicated to creativity and service in our pursuit of continued excellence in the prevailing wage and service contract arena as well as the non prevailing wage industry. We believe that staying with the crowd is falling behind, and leading the pack a temporary position.

What motivates us is satisfied and excited clients who desire the same innovative spirit and who seek to share in the rewards of innovation.  Beneco believes that by providing you and your employees with excellent fringe benefit plans at a fair price, we will help you develop satisfied and grateful employees.  This will help build long lasting and fruitful relationships for your company and your valuable employees.