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For immediate release: May 26, 2016
BWC announces $15 million rebate to Ohio counties
COLUMBUS - Citing strong investment returns, Ohio Bureau of Workers' Compensation (BWC) Administrator/CEO Sarah Morrison announced a one-time $15 million rebate to Ohio's 88 county governments.
The rebate, approved by BWC's board of directors today, is from the Public Work-Relief Employees' Fund (PWRE) 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 PWRE provides compensation and medical benefits to individuals injured in the course of their public works employment.
"This fund has enjoyed healthy investment returns over the last decade," said Morrison. "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."
Morrison said the PWRE fund has grown by $10 million over the past ten years, with more than 80 percent of that growth coming from investment earnings. All 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.
Ohio's public and private employers pay their workers' compensation premiums into the State Insurance Fund. The PWRE is one of several specialty funds also managed by BWC. Such funds include the Marine Industry Fund, Coal Workers' Pneumoconiosis Fund and the Disabled Workers' Relief Fund.
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