BWC Announces $1.5 Billion in Premium Rebates
Pointing to strong investment returns, the Bureau of Workers' Compensation announced plans on 4/24/18 to distribute premium rebates totaling $1.5 billion to employers this summer.
BWC Administrator/CEO Sarah Morrison said the bureau's investment revenue allowed it to return about 85% of the premiums paid for the policy year that ended June 30, 2017 to employers.
Administrator Morrison said the BWC's Board of Directors would vote on the plan at its May 24 meeting. Checks would likely be mailed in July or August.
About $111 million would go to local government entities, the bureau said (in addition to $48 million to schools).
The bureau said the rebate is its largest in 20 years. Officials touted $8 billion in combined rebates, rate cuts, grants and other savings since 2011.
The BWC will also announce an investment in health and safety programs in the coming weeks, officials said.