Ohio BWC to Pay $15M Rebate to Counties
COLUMBUS, Ohio – The Ohio Bureau of Workers’ Compensation will pay a one-time $15 million rebate to Ohio’s 88 county governments, the agency announced Thursday.
BWC’s administrator and CEO, Sarah Morrison, cited strong investment returns as the reason for the rebate.
The rebate, approved by BWC’s board of directors, is from the Public Work-Relief Employees’ Fund that provides counties with workers’ compensation coverage for their work-relief employees — individuals who must work for a government entity in exchange for public assistance payments. The fund provides compensation and medical benefits to individuals injured in the course of their public works employment.
Ohio counties will receive rebates ranging from around $100 to more than $1 million, with exact amounts to be determined after May 31. These employers can expect to receive checks by the end of June.
“This fund has enjoyed healthy investment returns over the last decade,” Morrison said. “Thanks to the prudent fiscal management of our board of directors and staff, we’re pleased to send this money back to county governments, providing a benefit to their local economies and to taxpayers.”
The fund has grown by $10 million over the past 10 years, with more than 80% of that growth coming from investment earnings, Morrison noted.
Copyright 2022 The Business Journal, Youngstown, Ohio.