April 11, 2018
What do state unemployment tax (SUTA) costs, claims costs and wage base amounts mean to your organization?
Factors used in calculating employer state unemployment rates have increased; therefore increasing the average unemployment tax cost per employee by 33% since 2009
$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!
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.
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.
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.
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.