Did you know Massachusetts had over $143 Million in Unemployment Claim Overpayments?
What do state unemployment taxes (SUTA), benefit amounts and claim overpayment rates mean to your nonprofit?
These factors could mean less money for your nonprofit organization’s cause.
$460+ SUTA Tax Cost Per Employee
Massachusetts has long been a high-cost state when it comes to employer unemployment insurance. Since the latest recession, the average state unemployment tax (SUTA) cost has stayed at over $460 per employee.
$143 Million Unemployment Claim Overpayments
Massachusetts’ April 2014-March 2015 unemployment claim overpayment rate was 9.960%, equaling over $143 Million.
$990 – $31,410 Full Unemployment Benefit Amounts
An unemployment claim can range from $990 to $31,410 per claimant, if collected for the maximum benefit duration of 30 weeks.
There are options to financing your nonprofit organization’s unemployment costs.
First Nonprofit Group provides state compliant, individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. Below is a sample savings analysis of one of our members since 2011.
First Nonprofit Group provides state compliant individually insured, cost-saving options to satisfy SUTA requirements for nonprofit, governmental and tribal entities. We provide more than 1,800 organizations around the country with unemployment insurance at affordable rates. Click here or call 1-(800) 526-4352 to request a free, no-obligation cost saving evaluation. Evaluations include a 2017 rate projection!