Sept. 24, 2021
COLUMBUS - The Ohio Bureau of Workers' Compensation (BWC) Board of Directors have approved the expansion of the agency’s December 2020 $5 billion dividend to approximately 3,000 employers who did not originally meet eligibility requirements.
The expansion was requested by Governor Mike DeWine and allows for approximately $30 million to go to the previously-ineligible employers who, through no fault of their own, could not perform their 2019 “True-Up” in the timeframe for the dividend return.
“Today’s decision by the BWC Board of Directors will give thousands of additional employers the opportunity to invest more in their people and their products,” said Governor DeWine. “This will not only help these individual businesses, but it’ll also help strengthen Ohio’s economy as a whole.”
At Governor DeWine’s request, BWC’s Board has authorized more than $9.2 billion in dividends to Ohio employers since 2019.
“We are pleased that our financial position allows us to expand this dividend to those previously ineligible employers,” BWC Administrator/CEO Stephanie McCloud said. “The pandemic has not been easy on any of us, and it is our hope this will help ease the financial burden.”
BWC will communicate directly with eligible employers. BWC will first apply the dividend to an employer’s unpaid premium balance, then send a check for the rest. Employers that receive this dividend may receive an IRS 1099 tax form in January 2022.
For frequently asked questions, visit this page on BWC’s website.
Kim Norris, 614-728-8045 or 614-361-0202, firstname.lastname@example.org
Ohio Bureau of Workers’ Compensation
Vision: To transform BWC into an agile organization driven by customer success.
Mission: To deliver consistently excellent experiences for each BWC customer every day.
Core Values: One Agency, Personal Connection, Innovative Leadership, Relentless Excellence.
Established in 1912, the Ohio Bureau of Workers’ Compensation is the exclusive provider of workers’ compensation insurance in Ohio and serves 249,000 public and private employers. With nearly 1,700 employees and assets of approximately $25 billion, BWC is one of the largest state-run insurance systems in the United States. For more, visit www.bwc.ohio.gov.