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The Employer Services Assurance Corporation (ESAC) was formed in 1995 to develop stringent standards and procedures
for the operation of a Human Resources Management Company. Much like the FDIC protects banking customers, ESAC provides
assurance to clients of ESAC MEMBER companies.
More than standards alone, the ESAC provides financial assurance of combined $6,000,000 surety bonds in support of the
commitments of every ESAC member company. Those surety bonds protect the proper management of payroll, taxes, and
insurance payments. Adams Keegan is among only a few companies who have earned the right to call themselves MEMBER ESAC.
Listed below are some of the standards that are met by Adams Keegan to maintain this important membership.
Financial Standards
- Audited financial statements must be submitted annually. Our independent accounting and
auditing firm (Thompson Dunavant, PLC) also provides quarterly review and attestation to ESAC that we have performed
our obligations as required and submit proof that all taxes, wages and insurance premiums have been paid in full and
on time.
- Adams Keegan must maintain a prescribed level of positive net worth based on operations.
Operational Standards
- Adams Keegan must provide all employees with written employment policies and procedures. (Adams Keegan
provides Employee Handbooks customized for each client location)
- The company shall notify ESAC of any taxes or premiums that have been placed in a dispute with any taxing
authority or insurance company.
- All employee benefits provided by the company must be communicated in a manner that complies with ERISA
requirements for disclosure and with applicable state and federal regulations.
Ethical Standards
- The company must promote and maintain an ethical conduct policy for all internal employees in accordance
with the Standards of Ethical Conduct required by ESAC.
- All Controlling Persons must be deemed qualified to operate the company pursuant to ESAC's standards of
conduct.
- All Controlling Persons are subject to a background check and verification of information provided to the
Institute as part of the application process.
For more information on the Employer Services Assurance Corporation, visit http://www.esacorp.org.
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