COLUMBUS – Preble County Commissioners will collect nearly $93,000 from the Ohio Bureau of Workers’ Compensation (BWC) as part of the agency’s rollout last week of $172 million in dividend checks to Ohio’s public employers.
In total, public employers (which include the county, local school districts, villages, city, townships and others, will share in over $407,000 coming back to Preble County from the BWC.
Governor Mike DeWine and Administrator/CEO Stephanie McCloud announced plans this spring to provide up to $1.5 billion to Ohio’s public and private employers following strong investment returns, falling injury claims and other agency cost savings.
“We are glad to be able to return these funds to public employers and hope that the funds will allow public employers to reinvest in their employees,” said Governor Mike DeWine.
Public employers will be the first to receive their share of BWC’s dividend, followed by private employers throughout October.
Of the $172 million, $51.4 million will go to public school districts. In Preble County, the district receiving the most will be Eaton Community Schools, which will receive over $48,000.
The City of Eaton, the county’s largest municipality, will receive over $65,000.
“We are 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 workplace safety and their communities.”
The checks equal 88 percent of the premiums employers paid in policy year 2017.
The dividend marks the fifth time since 2013 BWC has sent $1 billion or more to Ohio’s private and public employers covered by the agency. It also follows a 12 percent rate reduction for public employers that went into effect Jan 1 this year and a 10 percent rate cut BWC’s Board of Directors approved for 2020.
In all, BWC has saved employers nearly $10 billion in workers’ compensation costs over the last decade through dividends, discount programs, reduced rates and other cost savings.