Did you know Massachusetts had over $143 Million in Unemployment Claim Overpayments?

June 21, 2016

Did you know Massachusetts had over $143 Million in Unemployment Claim Overpayments?

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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.

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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!

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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