BWC Dividend for Ohio Businesses
On Monday, the Ohio Bureau of Workers’ Compensation board of directors approved $5 billion in dividends. The dividend is paid to employers in the state who are covered by the BWC. Gov. Mike DeWine proposed the dividend in an effort to ease the continued impact of the coronavirus on employers. “This is about keeping businesses open and people employed,” Gov.DeWine said.
The BWC will apply the dividend to an employer’s unpaid balance first. The remaining balance of the diviend will be distributed by a check in mid-December. How much can business owners expect to receive? Stephanie McCloud, BWC Administrator/CEO advised looking back at the most recent true-up amount and multiply it by about 3.72.
For some Ohio employers, this dividend will provide a helpful boost. “Business as normal” may not return any time soon. We are here to help you prepare for a “new normal” and what that may look like for you and your business. Now more than ever, it is important to take a look at what’s working and what’s not. Let Kirsch help you, call us at 513-858-6040 or schedule a consultation to see how we can help you.