Meeting the PEO Industry's Highest Standards
It’s what sets PrestigePEO apart from other PEOs. We maintain the industry’s highest standards for financial assurance and reliability to guarantee security for our clients. PrestigePEO is among only 1% of PEOs that are ESAC accredited, IRS certified and Workers’ Comp Risk Management certified.
Certified Professional Employer Organization (CPEO)
Date of certification: January 2017
PrestigePEO was one of the first PEOs nationwide to receive IRS Certification. As a Certified Professional Employer Organization (CPEO), PrestigePEO is one of only 7% of all PEOs that meets the strict financial and tax reporting requirements of the IRS.
The CPEO certification demonstrates that we maintain the highest industry and government standards for payroll administration, federal employment tax reporting and payments for our clients.
PEOs must adhere to the following federal guidelines for certification:
- IRS-set expectations for tax status, background, experience, business location and financial reporting
- A bond equal to 5 percent of the PEOs federal employment tax liability for the previous year: minimum $50,000/maximum $1 million
- Annual independent financial statements prepared by a CPA
- Independent CPA attestation and examination-level of payment of quarterly employment taxes quarterly.
As required by law, the IRS publishes a list of all organizations that are certified as a CPEO and the effective date of their certification. Please see us listed as Prestige Employee Administrators.
Employer Services Assurance Corporation (ESAC)
Date of accreditation: July 15, 2019
ESAC accreditation, the PEO industry’s gold standard, requires PEOs to meet the most rigorous financial, ethical, and operational standards. PrestigePEO is one of less than 4% of PEOs that meet such high industry standards.
ESAC accreditation certifies through its initial and ongoing reporting processes that PEOs are adhering to important industry standards and that all key employer obligations are paid, including federal and state employment taxes along with health, employee benefit, and workers’ comp obligations. Financial protection is provided by more than $15 million in surety bonds held in a national bank’s trust as a guarantee for accredited PEO clients and their employees.
Accreditation provides business owners, PEOs, and PEO state and federal regulators with time-tested verification and financial assurance of all key areas of PEO reliability for both IRS-certified and non-certified entities.
PrestigePEO gained accreditation by meeting more than 40 financial and operational reliability standards and regularly reports to ESAC to demonstrate ongoing compliance. You can verify our accreditation and download a copy of our certificate here.
The Certificate Institute’s Worker’s Compensation Certification
Date of certification: September 2010
The Certificate Institute (CI) Workers’ Compensation (WC) risk management provides independent professional verification that PrestigePEO’s risk management program meets proven insurance industry risk management best practices to reduce work-related accidents and health exposures to control WC insurance losses.
Clients can be assured that PrestigePEO has the capability to deliver important risk management results. Additionally, WC insurance companies provides assurance that a PrestigePEO is implementing industry best practices in a consistent and effective manner. The CI verification directory can be found here.
Peace of Mind
CPEO, ESAC and CI certifications provides peace of mind for our clients. We will always continue to meet strict requirements and standards to maintain our best-in-class status. We take pride in servicing our clients and providing the certainty that is unavailable with non-certified PEOs.
Why is it important for a PEO to be certified and accredited?
PrestigePEO is one of <1% of PEOs that have attained ESAC accreditation, IRS certification, and Worker’s Comp Risk Management certification. Whether you’re choosing a PEO for the first time or seeking a new PEO partner, you want to rest easy knowing that your payroll and your employees will be protected.
PrestigePEO holds the highest attainable industry standards in accreditation. Our ESAC accreditation and our CPEO and CI certifications guarantee your business financial security with surety bonds that help protect the payment of wages, payroll taxes, employee benefits, and insurance premiums.
- Certified Professional Employer Organization (CPEO). This IRS certification confirms a PEOs financial stability and strict financial and tax reporting requirements.
- Employer Services Assurance Corporation (ESAC). This accreditation proves a PEO’s financial stability, ethical business practices, adherence to regulatory requirements and provides surety bonds that help protect the payment of wages, payroll taxes, employee benefits and insurance premiums.
- Certification Institute (CI) – Workers’ Compensation Risk Management certification. This assures a PEO can deliver risk management best practices to reduce work-related accidents and health exposures and control workers’ compensation insurance losses.