Ohio Bureau of Workers’ Compensation
Employers in Central Ohio will receive approximately $204 million in dividend checks this month from the Ohio Bureau of Workers’ Compensation (BWC) due to the agency’s strong investment returns, falling injury claims, and other cost savings.
Ohio Governor Mike DeWine and BWC Administrator/CEO Stephanie McCloud announced plans in May to provide the money to employers covered by the State Insurance Fund for injured workers.
The proposal was approved by BWC’s Board of Directors in June.
“We are committed to providing resources for Ohio businesses to expand, support their employees, and become stronger competitors in the global marketplace,” said Governor DeWine. “Because of BWC’s leadership and strong investments, Ohio employers will now have the opportunity to make additional investments in their businesses.”
In Central Ohio*, private employers will receive just over $166 million in dividend checks. Public employers will receive $37.7 million. BWC started mailing approximately 177,000 checks on Sept. 26 in seven batches over four weeks, with the last batch scheduled for the week of October 24.
“We are grateful and more than pleased to once again be in a strong fiscal position that allows us to send these dollars to Ohio employers,” said BWC Administrator/CEO Stephanie McCloud, speaking at Reitter Stucco & Supply Co. in Columbus Thursday. “Our hope is employers will reinvest these dollars into their companies, particularly in the area of workplace safety, and help our economy continue to prosper.”
McCloud presented Reitter a ceremonial check for its dividend share, $39,297. Company president Fritz Reitter said he plans to invest the dividend in safety measures and bonuses for his employees.
“Our employees work hard to stay safe and keep our workers’ compensation expenses at a minimum, and we want to reward them for that,” said Reitter.
The dividends mark the fifth time since 2013 BWC has issued $1 billion or more to Ohio’s private and public employers covered by the agency.
The funds will be delivered via paper checks through the U.S. Postal Service.
The dollar amounts going to private and public employers by county can be found online by clicking this link:
The checks equal 88% of the premiums employers paid in policy year 2017. Statewide, nearly $172 million will go to counties, cities, townships, and other local government entities. Of that, $51.4 million will go to public school districts.
In total, BWC has saved employers nearly $10 billion in workers’ compensation costs over the last decade through dividends, discount programs, reduced rates and other cost savings.
Answers to frequently asked questions about the dividend can be found online at the following link:
*Includes Delaware, Fairfield, Franklin, Hocking, Licking, Madison, Morrow, Perry, Pickaway, and Union counties