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The Bonded Service Program provides the only fixed cost alternative based exclusively on an organization’s unemployment profile, thereby eliminating shared risk and expenses.
- Less costly funding alternative for nonprofits compared to the state unemployment insurance (SUI) tax and unlike the standard reimbursing option, is risk free.
- Annual fee is based exclusively on the historic benefit costs, annual wages, and projected unemployment level of the individual employer
- First Nonprofit Group assumes the responsibility of reimbursing the state for an employer’s unemployment benefits.
- Professional unemployment claims administration is included at no additional charge to assist the employer in eliminating all unwanted costs.
Claims administration includes hearing representation, charge auditing, management reporting, and on-site education and training.
- Placement of state-mandated bond (when required).
- Fixed budgetary cost eliminates any uncertainty and fluctuation in benefit payments while providing for precise cost allocation to funding sources.
- Complete fiscal security and stability.
- The Bonded Service Program currently provides services to over 400 nonprofit entities representing an excess of 265,000 employees.
- The program is endorsed and recognized by 33 national and state nonprofit associations.
- AmTrust Financial Services, Inc is rated A, Excellent by AM Best.
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