The Board of Directors of the Ohio Bureau of Workers' Compensation (BWC) has approved $1.6 billion in dividends to be paid to Ohio employers. The action comes on the heels of Ohio Governor Mike DeWine's request for the BWC to provide additional support to Ohio businesses that have been negatively impacted by the economic crisis related to COVID-19.
The BWC has designated $1.4 billion of the total to be paid to private employers, while the remaining amount will be sent to local governments. It is expected that the payments will be applied first to outstanding balances; checks for remaining amounts are to be issued in late April.
The April 10 announcement marks the seventh time since 2013 that the Ohio BWC has issued dividend payments to Ohio employers. It is also the second time that the BWC has taken action to help businesses affected by COVID-19, the first being to postpone due dates for March, April and May insurance premium installments to June 1, 2020. For more information, read our article Ohio BWC Delays Installment Payments, Provides Guidance.
Click here to read the BWC press release on the dividend payments.
For FAQs from the Ohio BWC on COVID-19 related matters, visit the BWC website.