COLUMBUS (WCMH) — Employers in Central Ohio will receive approximately $204 million in dividend checks this month from the Ohio Bureau of Workers’ Compensation.
The BWC said it will distribute approximately $1.5 billion in dividends statewide as a result of declining injury claims, strong investment returns, and other cost savings.
“We are grateful and more than 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 their companies, particularly in the area of workplace safety, and help our economy continue to prosper.”
Reitter Stucco and Supply in Columbus is getting a check for more than $39,000.
President Fritz Reitter said 20 years ago the company’s annual premium for worker’s compensation was about $200,000 and on the job injuries were a regular thing.
“We would have some kind of injury probably every two or three months,” Reitter said. “Recently, we’ve gone the last two and a half years without a recordable accident.”
Reitter said the company made safety a priority and invested in training and safety-related improvements.
He said the company’s annual worker’s comp premium has dropped to about $50,000.
This year’s dividends mark the fifth time since 2013, BWC has issued $1 billion or more to Ohio’s private and public employers covered by the agency.
The funds will be delivered via paper checks through the U.S. Postal Service.
Reitter said the company will distribute the dividend to its 50 employees.
“We decided to share it with our employees because they’re the ones that keep our premiums low and they’re the ones out there every day that we depend on being safety-focused.”
Click here for the dollar amounts going to private and public employers by county.
The checks equal 88% of the premiums employers paid in policy year 2017.
Statewide, nearly $172 million will go to counties, cities, townships, and other local government entities. Of that, $51.4 million will go to public school districts.
Click here for answers to frequently asked questions about the dividend.