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MyW2

MyW2Employer

Contract Professionals:   About MyW2 Rate Calculator Back Office Services    Benefits Optional Benefits FAQs Contact Us Client Companies: About MyW2 Rate Calculator FAQ Contact Us Add To Favorites World Trade Center of Greater Philadelphia neither recommends nor endorses this service, which is provided as a benefit to our members. World Trade Center of Greater Philadelphia is not responsible for the success of this third-party service.

Contractor FAQs If you don't find the answer to your question below, please contact us and we will get right back to you. How much does the MyW2Employer program cost? What benefits are available? How are bill rates for the client determined? Can I subcontract through MyW2Employer? If I'm working with a recruiter/agency can I still use MyW2Employer? What benefits will I receive between contracts/assignments? How is the client billing/collections managed? Who negotiates contract terms with the client? How do MyW2Employer administrative fees compare to recruiters/agencies? What if I don't want to use all of the benefits offered by MyW2Employer? How are the employer portion of taxes paid? Who has access to my personal information? How much does the MyW2Employer program cost? There is a 5% administrative fee based on the client bill rate. What benefits are available? MyW2Employer provides Workers Compensation, liability, disability and life insurance with every contract. Optional benefits and services are also available. How are bill rates for the client determined? Unlike recruiting firms/agencies that don't share the client bill rate with you, you retain full control of setting the bill rate to the client. Can I subcontract through MyW2Employer? Yes. If you are positioned to broker other contractors, MyW2Employer will work with you to distribute revenues appropriately. If I'm working with a recruiter/agency can I still use MyW2Employer? Yes. However, MyW2Employer must communicate directly with the recruiter/agency's client for contract purposes. This may not be acceptable to the recruiter/agency. What benefits will I receive between contracts/engagements? You will continue to receive health insurance, short-term disability, long-term disability, and life insurance through the end of the month for which you are paid up (i.e. if your contract ends on Feb 10th you maintain full coverage through the end of that month). If you do not have another contract scheduled to begin in that same month, then you can apply for COBRA to self-pay for your benefits until your next contract/engagement. How is the client billing/collections managed? MyW2Employer manages all of your client billings/collections so you can focus on your engagements. If the client qualifies we will process billings by automatic debit. Otherwise we will require the client to fund a deposit in advance equal to an average weekly pay. Who negotiates contract engagement terms with the client? You and the client initially negotiate the terms of the contract engagement. MyW2Employer will work with both parties during the negotiation process so that the final contract reflects the agreed upon terms. Only MyW2Employer has the authority to modify MyW2Employer contract engagement agreements on behalf of all parties. How do MyW2Employer administrative fees compare to recruiters/agencies? Our 5% administrative fee compares favorably with most staffing agencies fees that charge a combined recruitment and administrative fee from 18% to 55% above your gross wages and employer taxes. MyW2Employer also monitors tax wage caps and passes that savings on to you. What if I don't want to use all of the benefits offered by MyW2Employer? MyW2Employer provides Workers Comp, short and long term disability, liability and bonding insurance and $10,000 of life insurance, standard with every contract. Other benefits - such as health, dental, or vision coverage and 401(k) plan participation - are optional. Electing not to participate in optional benefits will increase your take home pay, enabling you to obtain benefits independently. How are employer portion of taxes get paid? Employer taxes are deducted from the client billings for each pay period. MyW2Employer is responsible for weekly tax payments. You will have access to full-disclosure of all taxes paid Who has access to my personal information? Your personal information is only available to MyW2Employer staff and business partners providing the MyW2Employer services and benefits. Your information will remain confidential.