In the News

PHCC Attends Capitol Hill Event to Address Skills Gap in America

Representatives of PHCC and the PHCC Educational Foundation were proud to support and attend this week's panel discussion on Capitol Hill: "Addressing the Skills Gap in America Through Apprenticeships." In addition to congressional speakers, the event featured several experts from This Old House, including PHCC member Richard Trethewey. The conversation highlighted the careers of those who reached their professional goals via one of the oldest forms of education: apprenticeships. According to the National Skills Coalition, there are 5.9 million job openings in the United States, yet there are 6.6 million unemployed Americans. This week's event was another excellent opportunity to reinforce to U.S. lawmakers that apprenticeships are a smart way to fill this crucial skills gap.

2018 Legislative Conference (May 22 - 23)

Make collaboration mean something. Share your story at the 2018 PHCC Legislative Conference, May 22-23, 2018, where contractors and association executives will join forces to convey a unified message on the need for tax reform, workforce development (reauthorization of Carl D. Perkins Act) and Energy Policy and Conservation Act (EPCA) reform. Click here to register. 


Federated Insurance "It's Your Life": Make the Most of Your Investment in Key Employees

Many business owners train and mentor employees for the long term, only to have them leave in two or three years. Have you experienced the loss of a promising employee? If so, then you know the costs related to turnover are high and getting higher as jobs become more specialized. Even if you offer the usual employment benefits, and perhaps even a retirement plan, that may not be enough to retain these important employees in today’s competitive job market. Younger workers, in particular, don’t want to wait until retirement for a bonus —they often think in shorter terms. You also may have certain key employees who you want to let know how special they really are to your operation.

Questions to ask yourself about your key employees:

  • Who keeps the business running smoothly when I am here? When I am not here? Do I want them to stay until their retirement? Or until my retirement?
  • What is keeping them here? Job satisfaction? Financial security? A relationship with me or other employees? Will they stay because of their current benefits? If not, what will it take to keep them?
  • Is there a way, without raising their salaries now, to give them an incentive to stay?
  • Can I offer an additional benefit to these specific employees without offering it to all my employees?

How can I provide an incentive to stay to my most valuable employees?

An Employee Private Bonus Plan* will give your best employees a reason to stay. It is a carefully thought-out promise to pay a selected key employee specified bonus amounts at specified times for continuing employment with your company. A sample bonus schedule might include a $5,000 bonus after five years, $7,500 after 10 years, and $10,000 after 15 years. This bonus is generally tax-deductible to the business when paid. With this kind of plan, key employees don’t have to wait until retirement to see their reward. 

You can design the plan to get a maximum retention value. The agreement states that if your employee is not performing their duties satisfactorily or is no longer employed with you at the time of a scheduled bonus, no payment is made. This type of bonus plan is appreciated by all employees and is especially attractive to younger employees who are just starting their careers.

How do you get the money to pay bonuses?

You finance bonuses with a universal life insurance contract.

  • When using life insurance as a funding vehicle, the business is the owner, payer, and beneficiary of the policy.
  • Cash values are owned and controlled by the business, are shown as an asset on the books, and generally grow tax deferred.
    • Insurance premiums are generally not tax-deductible to the business; however, the bonus is generally tax deductible when paid to the employee, once the employee has fulfilled the required number of years.
    • Using cash value life insurance as a funding vehicle also provides the business with Key Person coverage in the event of the employee’s death. The life insurance proceeds can be used to hire and train a replacement, and to replenish lost profits during the transition period.

A common variation includes offering a percentage of the death benefit to the employee’s personal beneficiary through a written Endorsement Split-Dollar Agreement. This provides needed personal, tax-free death benefit coverage to your key employees for pennies on the dollar. For this tax-free death benefit, a small term insurance cost is reported on your employee’s W-2 each year.

You may invest countless hours and dollars training and mentoring young employees. Your talented employees will be more likely to stay if you challenge them with responsibility and offer opportunities that may not be available from competing employers. An Employee Private Bonus Plan may help you get the best return for your investment in their future.

* All products and services may not be available in all states

This article is for general information and risk prevention prevention recommendations only and should be considered legal, coverage, financial, tax, or medical advice. The information may be subject to regulations and restrictions in your state. There is no guarantee following these recommendation will help reduce or eliminate losses. The information is accurate as of its publication date and ia subject to change. Qualified counsel should be sought regarding questions specific to your circumstance. Copyright © 2018 Federated Insurance, All rights reserved.


Home Automation Live Webinar Training from Jackson Systems - Free for Contractors

Never before has upselling been so easy with so many options! Contractors: this is your opportunity to enter this $30 billion dollar market.*

Date: Tuesday May 15, 2018
Time: 6:00pm - 7:00pm ET
To register:

Home Automation Topics
• What is Home Automation?
• How does it all work?
• How do I get started? Getting comfortable selling!
• Integrating with Voice Assistants
• What's next? The future of Home Automation
• Bundles: Connect to power; connect to internet...and you've sold a Home Automation package! See our bundles here:

*Predicted sales of connected home automation products by year 2020


PHCC Colorado Legislative Day Recap

On Wednesday, April 18th, PHCC participated in its 1st Legislative Day at the Colorado State Capitol. We were able to meet with lobbyist Elisabeth Rosen to review the bills we have taken board positions on, and discuss strategy for meeting with legislators.
PHCC members were invited to join legislators on the House floor to have one on one conversations and be able to closely observe the legislative action of the day. Thank you to Rep Michaelson-Jenet (D-Adams County) for reserving seats for PHCC as well as her acknowledgment and introduction of PHCC and our Day at the Capitol to all the 65 members of the Colorado House of Representatives. As you will see from the pictures, PHCC members were able to interact and meet with many legislators across the state of Colorado including Rep Kraft-Tharp (D-JeffCo), Rep Lundeen (R-El Paso), Rep J Becker (R-Ft Morgan), Rep Liston (R-El Paso), Sen Marble (R-Larimer). This day was a success for PHCC and we are already planning and looking forward to a Legislative Day at the Capitol during the 2019 session. 
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