SANTA BARBARA, Calif., March 15, 2016 /PRNewswire/ -- Nonprofit employers now have access to more ways to save on unemployment claim costs with the Unemployment Services Trust (UST). The addition of its new option, named UST Support, will help provide more cost-saving tools to large nonprofits that are looking to offload burdensome unemployment claims management processing in order to allocate more time and money to their core missions.
For over 30 years, UST has helped 501(c)(3) employers exercise their right to opt out of state unemployment taxes and only pay for their former employees' benefits, otherwise known as the "reimbursing" method. UST has helped nonprofits recover hundreds of millions of dollars in funding for their missions by utilizing this federal option.
The traditional UST Trust program helps protect thousands of nonprofit employers by allowing them to offset future unemployment claims costs through systematic contributions into a member-owned trust account. With UST's claims management tools, they save about $35 million annually in claims costs. But UST recognizes that the nonprofit community is diverse, and many larger organizations with healthy operating reserves are managing reimbursing without the need for a reserve account dedicated to unemployment claims.
"UST's Trust members utilize their account to protect their assets during the natural rise and fall of the unemployment cycle. And unlike the state tax system, they can get refunds when they have a period of lower than expected claims," said Donna Groh, Executive Director of UST. "But we also know that for larger organizations with healthy and well-managed operating reserves, funding their unemployment obligations through a managed account can feel unnecessary. For them, we've created UST Support to provide our world-class unemployment claims management and HR tools, without the need to set aside reserves in a managed account."
For a simple set cost, UST Support customers have access to all of the tools that UST Trust members enjoy—including sophisticated online claims management, an extensive library of compliance and employee management documents, and live, real-time HR support—while maintaining complete control of their cash flow and asset management.
"Nothing is more rewarding than hearing how our support has helped a nonprofit better serve their community and protect their mission. I'm thrilled that UST Support will now give us the opportunity to assist a whole new group of organizations by providing a solution tailored to their specific needs," said Adam Thorn, Director of Operations.
To find out more about UST and the new UST Support suite of services, visit www.ChooseUST.org or contact UST at 1-888-249-4788.
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SOURCE Unemployment Services Trust