Columbus, OH – Ohio Governor Mike DeWine recently applauded the Ohio Bureau of Workers’ Compensation (BWC) Board of Directors for approving his request to issue a $1 billion dividend to Ohio employers.
This dividend brings the total amount sent to private and public employers to $10.2 billion during the DeWine administration.
Employers have now been sent more in dividends than they have paid in workers’ compensation premiums since 2019.
“With this dividend, Ohio employers can continue helping their businesses thrive,” said Governor Mike DeWine. “This approval reinforces our focus on supporting Ohio’s business community.”
The newly approved dividend equals approximately 90% of premiums paid in policy year 2022. Dividends of this size are made possible through BWC’s strong fiscal leadership and investment performance.
“Governor DeWine requested this dividend to support Ohio employers, and we are proud to deliver,” said BWC Administrator Stephanie McCloud. “At BWC, we are dedicated to doing everything we can to benefit Ohio employers and our state as a whole.”
Checks will be delivered to eligible employers throughout September and October and will remain valid for 90 days.
Ohio employers are also seeing the lowest premium rates in over 65 years. The Oregon Workers’ Compensation Premium Rate Ranking Study found that Ohio has the 5th lowest workers’ compensation premium rates in the country.
Source: Ohio BWC