In response to the high costs of the SUI taxable method and the uncertainty of the reimbursement method, PeopleSystems, together with First Nonprofit Companies, offers the Bonded Service Program. This comprehensive solution to your unemployment insurance obligation assures a fixed annual cost while allowing you to save thousands of dollars when compared to the taxable method. It takes the guesswork, and the risk, out of reimbursing the State for these claims while allowing you to enjoy your statutory reimbursing option.

Your annual fee is based exclusively on your own unemployment experience and employment profile. There are no shared risks or shared expenses. Your Bonded Service Program is specifically designed for you! Nonprofits opting out of the taxable method and choosing this alternative funding method, rather than self insuring on their own, have experienced substantial savings, often as high as 40-50% of their tax contributions. It is an ideal way to adapt your organization to the reimbursing method while not having to worry about the uncertainty it presents.

First Nonprofit assumes your obligation to reimburse the state unemployment agency for any and all unemployment benefits paid to your former employees attributable to the coverage term. Our performance is insured by our sister company, First Nonprofit Insurance Company. Also, the program provides, at no additional cost to you, professional unemployment claims administration and cost control. You receive services from unemployment insurance professionals familiar with your State’s laws and statutory requirements. Claims validation, representation at all unemployment appeal hearings, audit of benefit charges, and, when you need advice, consultation regarding the proper handling and documentation of employee separations are the key components of these important and inclusive services.

Why continue to pay more in state unemployment taxes or face the risk of self insuring as a reimbursing employer? The Bonded Service Program is the most effective solution for many employers. Program features include:

• Much lower costs than the SUI Tax
• Payment of all unemployment benefit charges by FNC
• Fixed annual cost, with multi-year coverage options, with no exposure to any additional risk
• Precise allocation of costs to funding sources
• Professional claims management
• Consolidation of all unemployment insurance expenses under a single cost structure

The Bonded Service Program assists organizations all over the country, and of varying sizes and field of service, makes better use of their funds and to more effectively manage their unemployment insurance responsibility. Contact us today so you can learn how this program might serve you.

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