Workers’ comp bureau proposes $1B in rebates
By Jim Provance, The Blade, Toledo, Ohio | |
McClatchy-Tribune Information Services |
"Employers of
The first checks will go out in October, shortly before voters head to the polls.
If the same thing occurs this time as occurred with the first round last year, a series of check presentations are in the offing.
The rebates were again made possible by robust returns on the
"The money that allowed us to do the dividend announcement didn't come from overcharging employers," he said. "It came from investment returns that well exceeded the investment targets that we put in place.
"We continue to set premium rates on an annual basis based on the number of accidents and the cost of those accidents we see coming forward in
"If you did it as a rate thing then you'd have to adjust rates up if investment returns didn't meet expectations, so today is a dividend that we all should celebrate, but it is a one-time event,"
"Businesses should not plan on this. They shouldn't put it in their long-term plan. What they should do, which is what a lot of them did the first time around, is invest in safety, maybe hire a few employees, bankroll themselves into the future."
The BWC's board is expected to consider the proposal at its September meeting. The campaign for
"Kasich's 'pro-business' policies have benefitted large corporations, many overseas, while
The bureau is also putting more money into safety training and research programs for private and public-sector employees.
"The additional rebates that were announced ... are more welcomed news to small-business owners, who make up the majority of state fund employers," said
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