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- What is Unemployment Services
Trust?
- UST is a Grantor Trust, created, managed,
and owned by the member nonprofit agencies. Its sole purpose
is to lower unemployment costs for its members.
- How does it work?
- 501(c)(3)s opt out of the state unemployment
tax system and agree, through the Trust to directly reimburse
the state only for the claims of their past employees.
- What can I save?
- 30% to 50%over the long term.
- You stop subsidizing companies with higher
claim utilization whose employment costs are capped by
your state's maximum tax rate.
- You own your account and the investment
return on your portion of the Trust Assets..
- What does moving to the Trust
mean to my employees?
- Your employees continue to access unemployment
benefits directly through the state as always. No eligibility
or benefit levels are changed.
- Who is eligible?
- 501(c)(3) organizations with 10 or more
employees.
- Is this a new program?
- No, the Trust has been around since 1983.
Today it operates in every state, has 1870 participating
agencies covering 150,000 employees. 2001 assets exceed
$65 Million.
- Can I opt out of the State
Tax System at any time?
- No, with the exception of California, you
are only allowed to leave the state once a year. We will
help you meet state deadlines and notifications.
- Member Benefits:
- You save money!!
- The Trust's Claims Monitor audits all claims
for accuracy and will assist you with protests, hearings
and other issues relating to termination policies and unemployment
benefits.
- You have the protection of stop loss insurance,
bonds (where required)and the consoli- dated Trust assets
of over $65 Million.
- Risk management and educational seminars
and websites are available to all levels of your management
and supervisory staffs.
- How can I learn more?
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