Annually, government contractors eagerly await the U.S. Department of Labor’s announcement of the new fringe benefit obligation for health and welfare benefits under the Service Contract Act (SCA). With all eyes on the economy and the ripple effects of inflation, the 2024 SCA fringe rate is all the more important for employers and employees alike. We are happy to report that the wait is over – the 2024 SCA fringe benefit rate has been released!
Effective July 2, 2024, the Department of Labor announced the 2024 rate for Service Contract Act prevailing health and welfare benefits through All Agency Memorandum 246.
Please find the following increased fringe benefit updates for SCA-covered contracts, as announced in the Memorandum:
The 2024 fringe benefit rate and all All Agency Memorandum 246 will be posted on SAM.gov and on the Department of Labor’s Wage and Hour Division website.
For 40+ years, Boon has provided compliant and competitive fringe benefit solutions for government contractors. We support the government contracting industry with our customized benefit offerings, consultative approach to solutions, and expertise in a constantly evolving space.
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