ESAC accreditation ensures our clients and employees that Merit Resources meets the highest standards applied to firms in the PEO industry
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Des Moines, IA (Vocus) September 18, 2009
Employer Services Assurance Corporation (ESAC) today bestowed prestigious industry recognition upon Des Moines-based, Merit Resources. ESAC accreditation acknowledges Merit Resources' achieving the highest levels for specific performance practices and signifies that the company continuously meets the pinnacle of standards applied to firms in the $51 billion industry. This PEO industry assurance program parallels similar programs such as the FDIC for the banking industry, SIPC for the securities industry, and the state insurance guaranty associations for the insurance industry. Merit Resources is the only ESAC accredited PEO with Iowa based headquarters and ownership.
"ESAC accreditation ensures our clients and employees that Merit Resources meets the highest standards applied to firms in the PEO industry," says Joel Duncan, Merit Resources CEO & President. "Accreditation is difficult to attain, and places Merit solidly among the top 3% nationally of PEOs in terms of financial, professional and ethical accountability."
As an ESAC-Accredited Professional Employer Organization (PEO), Merit Resources is backed by financial assurance through ESAC's Client Assurance Program, consisting of an individual $1 million surety bond plus a $10 million excess bond. The program provides reimbursement to clients, worksite employees, taxing authorities and insurers in the unlikely event of a PEO default in paying wages, payroll taxes, workers compensation and benefit premiums.
About Merit Resources
Merit Resources was founded in 1989 to provide small to medium businesses with human resources and payroll functions. With a focus on high-level customer service to its clients, Merit Resources has grown its professional offerings to include risk and benefits management and other back office solutions. As a full service professional employer organization, Merit Resources offers clients many services typically unavailable to them and their employees. Merit Resources enables clients to cost-effectively outsource the management of human resources, workers' compensation, employee benefits and payroll. For more information visit: http://www.meritresources.com.
ESAC administers an accreditation program for the professional employer organization (PEO) industry to verify compliance with government regulations and important industry standards. The performance of key employer responsibilities by accredited PEOs is backed by bonds providing financial assurance for clients, worksite employees, insurers and regulatory authorities.
ESAC provides services and assurances similar to the FDIC for the banking industry, SIPC for the securities industry, and state insurance guaranty associations for the insurance industry. ESAC provides compliance verification and monitoring services similar to Sarbanes Oxley and ISO9000 requirements.
ESAC-accredited PEOs demonstrate financial stability, ethical business conduct and adherence to operational standards and regulatory requirements. ESAC accreditation decreases the burden of research and verification by PEO clients and regulatory authorities. Financial assurance to clients, worksite employees, insurers and regulatory authorities is provided through $1 million individual surety bonds covering each accredited PEO plus a $10 million excess surety bond. ESAC-accredited PEOs submit audited financial statements and quarterly independent CPA verification of payment of taxes, benefit contributions and insurance premiums.
For more information visit, http://www.esacorp.org.