Ohio pulls an Oprah – Gives away part of overfunded Comp fund to local schools

Governor Kasich and the Ohio Bureau of Workers’ Compensation have a lot of money lying around, and they want to give some of it back to schools and local governments. Apparently their net assets top $8.3 Billion, much higher than they feel they need. Schools and local governments who have paid into the plan over the years would get a rebate equal to 56% of their annual workers’ comp premium. This works out to $112.8 million, which could buy a lot of good stuff for the schools.

Ohio prides itself on having lower Workers’ Comp rates, and the Governor hopes to roll them back another 2-4 percent. You can read all the details of Governor Kasich’s plan here. Unfortunately, it doesn’t have the part I proposed where they would make a big check out to moi. 🙂

 

 

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