2018 Unemployment Cost Facts for Illinois
What do state unemployment tax (SUTA) costs, claims costs and wage base amounts mean to your organization?
These factors could mean less money for your cause.
$398 Average SUTA Cost per Employee
Factors used in calculating employer state unemployment rates have increased; therefore increasing the average unemployment tax cost per employee by 33% since 2009
Unemployment Claim Stats
$15, 938 Total Maximum Benefits
A claimant can collect up to a maximum of $15, 938 on a single claim
$218 Million Unemployment Claim Overpayments
Illinois’ fiscal year 2017 unemployment claim overpayment rate was 12.088%, equaling over $218 million.
$596 Recommended Average SUTA Cost per Employee
According to the U.S. Department of Labor, Illinois Department of Employment Security (IDES) is financing unemployment at 32% less than their minimum adequate financing rate. In order to meet adequate financing, IDES will have to increase average SUTA costs per employee from $398 to $596.
During the recent Great Recession, average SUTA costs per employee peaked at $693.
First Nonprofit Group provides state compliant, individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities Click here or call (312) 239-8385 to request a free, no-obligation cost savings evaluation. Evaluations include a 2019 rate projection!