For the third time this year, the Board of Directors of the Ohio Bureau of Workers’ Compensation (BWC) has approved relief in the form of a dividend for Ohio employers. The payments are intended to support businesses experiencing financial pressures related to the COVID-19 pandemic. This round of dividends will total approximately $5 billion, bringing the total COVID-19 relief payments issued by the BWC to nearly $8 billion.
The year’s first dividend payment, announced in April, provided $1.6 billion to the state’s eligible employers. A September dividend delivered an additional $1.5 billion in payments.
Eligible private employers are expected to have the payments first applied to unpaid balances with the Ohio BWC. The agency said it will likely distribute checks for the remaining balances by mid-December.
To read the news release announcing this dividend, visit: https://info.bwc.ohio.gov/wps/portal/gov/bwc/news-and-events/news/bwc-board-approves-5-billion-dividend. To review frequently asked questions regarding this latest dividend, visit: https://info.bwc.ohio.gov/wps/portal/gov/bwc/for-employers/all-employer-resources/5BillionDividend-QandA.
To discuss this dividend or other COVID-19 relief options, please contact your HBK Advisor or call 330-758-8613.
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