Governor Kasich recently announced plans to return approximately $1 billion of worker's compensation funds back to the businesses which paid them. In addition to the refund, the proposal also includes plans to make alterations to the way worker's compensation benefits are determined and distributed. Before the payment and alterations become a reality, however, the board of the Ohio Bureau of Workers' Compensation must meet and approve the proposal.
According to a spokesperson for the BWC, the $1 billion would be funded by the dividends of investments which had significantly higher returns than were originally anticipated. If approved, these dividend payments would be distributed amongst all 210,000 clients of the BWC, regardless of whether they are publicly or privately owned. The hope, expressed by Governor Kasich and a spokesperson for the BWC, is that the returned dividends will help stimulate economic growth throughout the state.