2018 Unemployment Cost Facts for Colorado

May 22, 2018

2018 Unemployment Cost Facts for Colorado

2018 CO

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.

57% Average SUTA Cost per Employee Increase

Factors used in calculating employer state unemployment rates have increased; therefore increasing the average unemployment tax cost per employee by 57% since 2009 to about $250  by 2017.

savings snipUnemployment Claim Stats

$14,898 Total Maximum Benefits

A claimant can collect up to a maximum of $14,898 on a single claim.

15.394% Unemployment Claim Overpayment Rate

Colorado’s fiscal year 2018 unemployment claim overpayment rate was 15.394%, equaling over $74 million.

$12,600 2018 Taxable Wage Base

The unemployment wage base increased from $10,000 in 2011 to $11,000 in 2012, and has continued to increase since; therefore increasing the wages on which employers pay SUTA on.

2017: $12,500

2016: $12,200

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 (214) 360-2477 to request a free, no-obligation cost savings evaluation. Evaluations include a 2019 rate projection!

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Testimonials

NYCON members who use First Nonprofit’s programs enjoy enduring savings and improved efficiency. Our association knows that success, because from the beginning, we achieved the same great benefits. Great savings, seamless technology, and responsive service. NYCON highly recommends First Nonprofit’s remarkable unemployment solutions.

New York Council of Nonprofits, Albany, NY

We were introduced to First Nonprofit through another housing authority. In our analysis and comparison to what we were paying the State, our first year savings was $5,800 plus. We have been with them since the end of 2008 and I am glad we have been. I consider them an arm of our HR department.

Kankakee County Housing Authority, Kankakee, IL

Because INCS advocates for the operating conditions that allow charter public schools to provide high quality public education, partnering with First Nonprofit was an easy decision. First Nonprofit’s unemployment programs provide our member schools two operating elements crucial to their ability to provide high quality public education: savings and budget certainty. Capable, committed teachers are the key to student success. By participating in the unemployment insurance savings plan, charter public schools gain peace of mind and are able to invest more money in their teachers.

Illinois Network of Charter Schools

Throughout our membership in the Unemployment Savings Program, First Nonprofit understood our demands, community dynamics, and the importance of seamless services; that allowed us to serve our constituents better.

Hugh Parry, Retired President of Prevent Blindness America