BWC Board Approves $1.5 Billion Dividend for Ohio Employers
September 25, 2020
On Friday, September 25, 2020, the Ohio Bureau of Workers' Compensation Board of Directors approved Governor Mike DeWine’s proposal to send Ohio employers up to $1.5 billion in dividends to ease the impact of COVID-19 on Ohio’s economy and business community.
BWC will start sending checks to up to 200,000 private and public employers in its system in late October after first applying the dividend to any unpaid balances. The dividend follows a similar dividend in April, where the average check size was $8,500.
The dividend equals 100% of the premium employers paid in policy year 2019. As in prior years, the dividend is possible because of strong investment returns on employer premiums, a declining number of claims each year, and prudent fiscal management.
Of BWC’s $1.54 billion dividend in April, $1.35 billion went to private employers and $184 million went to local government taxing districts, such as counties, cities, townships, and school districts.