The city of Dayton will collect nearly $1.85 million from the Ohio Bureau of Workers’ Compensation as part of the agency’s rollout today of $172 million in dividend checks to Ohio’s public employers.
Gov. Mike DeWine and Administrator/CEO Stephanie McCloud announced plans this spring to provide up to $1.5 billion to Ohio’s public and private employers following strong investment returns, falling injury claims and other agency cost savings.
“We are glad to be able to return these funds to public employers and hope that the funds will allow public employers to reinvest in their employees,” said Governor Mike DeWine.
Public employers will be the first to receive their share of BWC’s dividend, followed by private employers throughout October. Recipients of the top 10 largest checks include:
1. City of Columbus — $19.89 million
2. City of Cleveland — $6.5 million
3. Columbus City Schools — $4.46 million
4. City of Toledo — $3.93 million
5. Cleveland Metropolitan School District — $2.73 million
6. Cuyahoga County — $2.6 million
7. City of Akron — $2.06 million
8. City of Dayton — $1.85 million
9. Lucas County — $1.75 million
10. Hamilton County — $1.3 million
Of the $172 million, $51.4 million will go to public school districts.
“We are 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. “Our hope is employers will reinvest these dollars into workplace safety and their communities.”
The checks equal 88% of the premiums employers paid in policy year 2017.
The dividend marks the fifth time since 2013 BWC has sent $1 billion or more to Ohio’s private and public employers covered by the agency. It also follows a 12% rate reduction for public employers that went into effect Jan 1 this year and a 10% rate cut BWC’s Board of Directors approved for 2020.