The McNamara Act of 1965 requires all general contractors and subcontractors performing services on prime contracts in excess of $2,500 to pay service employees in various classes no less than the wage rates and fringe benefits found prevailing in the locality as determined by the United States Department of Labor.
Complying with this legislation requires a vast amount of planning and diligence given the wage and benefits comparisons that must be made, maintained and supervised. Axim has ample experience helping our clients both understand the impact of this law on operations and overall contract pricing strategy, but also in finding innovative ways to lower the overhead burden of staying in compliance across prime contracting opportunities.
For more information on complying with the McNamara Act and how you can lower your costs by working with Axim, please contact us here.