COLUMBUS – The Ohio Bureau of Workers’ Compensation (BWC) is urging Ohio employers to cash the checks BWC mailed them in December to mitigate the economic hardship brought by the COVID-19 pandemic.
As of early last week, 23,351 employers still had not cashed $513.7 million in checks BWC sent last month in its $5 billion dividend for nearly 180,000 private and public employers.
“We issued this dividend at Gov. Mike DeWine’s request to help businesses stay open and keep people employed,” said BWC Interim Administrator/CEO John Logue. “We encourage employers to check their mail and start putting these dollars to use.”
BWC issued the dividend in mid-December via checks in the mail and credits to employer accounts. Made possible by strong investment returns, declining injury claims and other cost savings, the dividend included $4.3 billion for private employers and $687 million for local government taxing districts, such as counties, cities, townships and schools.
The dividend followed two others in 2020, one for $1.54 billion last spring and another for $1.34 billion in October, bringing total dividends for the year to nearly $8 billion.
The checks have a 90-day life before stale-dating. BWC will reissue checks after the stale date at the employer’s request, but the process delays employer access to these funds. Ultimately, if an employer fails to cash an original or reissued check, BWC will credit their account.
Online: View answers to frequently asked questions at www.bwc.ohio.gov/downloads/blankpdf/5BillionDividend-FAQ.pdf.