Business Owners... Why Use an Accredited PEO
Your Benefits of Working with an ESAC Accredited PEO
- A PEO’s ESAC accreditation is the gold standard for financial reliability in the PEO industry and is the only practical way for you to be sure on an ongoing basis that a PEO is financially reliable, is in compliance with regulatory requirements and is meeting important industry operational, financial and ethical standards.
- You have 24/7 access to online verification that your PEO is financially stable, is in compliance with important state and federal employment laws and PEO regulations, and is owned and operated by qualified people who have a personal and business track record of meeting their obligations in an appropriate manner.
- Ask your trusted advisors, such as your attorney and CPA, to review the accreditation standards and procedures for an additional level of confidence in the credibility of the process and in the reliability of your accredited PEO!
- ESAC’s financial assurance program backs an accredited PEO's performance of key employer responsibilities with millions of dollars of bonding! This program's objectives are similar to those of the FDIC for the banking industry, the Security Investor Protection Corporation (SIPC) for the securities industry, and state insurance guaranty associations for the insurance industry. ESAC's assurance program provides:
- Reimbursement to the PEO’s clients, worksite employees, taxing authorities, and insurers in the unlikely event of a default by the PEO to pay wages, payroll taxes, contributions to employee retirement plans, workers' compensation premiums and group life and health insurance premiums or plan contributions.
- Assurance is provided through underlying surety bonds held on behalf of each ESAC accredited PEO plus a $15 million excess bond covering all program participants. Bonds are backed by an A-rated national surety bond carrier and are held in Trust at a major national bank.
- Enjoy the peace of mind of working with an accredited PEO. You’ll sleep well knowing your PEO service provider maintains compliance with the PEO industry’s gold standard!