Reducing unemployment costs after historic volumes and pandemic legislation

Sedgwick is the world’s largest third-party administrator and a leading global provider of technology-enabled risk, benefits and integrated business solutions.  Our unemployment colleagues work closely with clients to develop highly configured unemployment claims programs that deliver improved efficiencies, exceptional customer experience and a measurable return on investment.

Sedgwick unemployment tax specialists help clients understand tax laws and regulations while providing services that analyze liability, employee movement and uncover possible savings. There are specific services to support tax planning, mergers, acquisitions, reorganizations, compliance, taking advantage of special tax saving opportunities and estimates of future tax costs.

Merger, acquisition and reorganization activities
Many employers complete merger, acquisition, divestiture and reorganization activities on January 1st.  There are several key compliance and procedural requirements that need to be considered with these types of activities. 

• State compliance filings: Have the appropriate agencies and offices been formally notified of the transaction?
• Registrations and closures: Have the relevant unemployment and withholding account registrations and/or closures been filed with the appropriate offices and agencies?
• Experience transfers: Was the transaction handled appropriate as required by state legislation resulting in the correct tax rate?
• Savings strategies: Were the available strategies analyzed to ensure the lowest possible cost was realized? 
  

The underlying requirements of each activity may vary significantly depending on the type of transaction your organization experienced. 

Expert support and strategic guidance
We offer comprehensive services surrounding mergers and acquisitions, reorganizations, and/or tax planning projects that help each client determine the impact of these activities on their unemployment tax liability. We also identify potential unemployment tax savings opportunities and assist with the preparation of all related tax documents.

Please contact the Sedgwick unemployment team if you have questions, to learn about other best practices to mitigate the costs of unemployment claims or how to manage traditional unemployment as we continue to return to normal. unemployment@sedgwick.com