News
Ohio Workers’ Comp Bureau Proposes $1B Rebate To Employers
By: Associated Press
Posted on:
COLUMBUS, Ohio (AP) – Ohio’s fund for injured workers wants to return more than $1 billion of its investment earnings to the state’s 200,000 private and public employers.
The state Bureau of Workers’ Compensation proposed the rebate on Monday. It amounts to two-thirds of the premiums that employers paid in the policy year that ended last June.
The proposal will be presented during the bureau’s board meeting on Thursday.
A decision is planned next month. If approved, checks could be issued in July.
The bureau says the proposal is a result of better-than-projected investment returns and strong financial management.
Republican Gov. John Kasich says the state has created a better “climate for success” by trying to reduce workers compensation costs and investing in workplace safety efforts.