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ESAC's mission is to build trust and provide assurance to clients, worksite employees, insurers, taxing authorities, regulators, and the general public by providing the following services to the PEO industry:
- Administering a PEO Client Assurance Program to provide financial assurance to clients, worksite employees, insurers and taxing authorities through surety bonds held by the Employer Services Trust on behalf of each Accredited Professional Employer Organization;
- Administering a multi-faceted accreditation and monitoring process to ensure ongoing compliance with important ethical, financial and operational standards by Accredited Professional Employer Organizations; and
- Working in cooperation with participating PEOs and other industry trade organizations to protect public interests and to promote continued industry growth.
The assurances offered by ESAC's program for the PEO industry are similar to the assurances offered by 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. The high degree of success of each of these programs is due to cooperative efforts between the respective industry trade associations and the government agencies responsible for regulating the industry.
With the assurance provided by its tangible financial protection and ongoing
standards compliance monitoring, ESAC's accreditation and client assurance programs
help the PEO industry achieve increased acceptance and trust
by clients, regulators, and the general public as a mature service industry.
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