News and Updates
Category: Ohio BWC Loses Billions
Ohio BWC Has Lost Nearly $3 Billion This Year
We’ve been keeping you updated on Ohio BWC’s net position, and you may have read last month that they had nearly $1 billion in net investment losses recently. That sounds bad, but it actually gets worse. Throughout June they’ve lost an additional $400 million, bringing their total losses since January 2022 to nearly $3 billion dollars. As a reference point, that’s roughly two full years of employer premiums down the tubes. Let’s remember that BWC chose not to pay out 2018 and 2019 Group Retro refunds, which would have been a fraction of the money lost. While everyone knows that the market is unpredictable right now, it seems like that $395 million owed to Group Retro participants would have been better off in the hands of the employers who earned it. If you have questions about your 2018 and 2019 Group Retro refunds, don’t hesitate to contact us at Spooner – even if you’re not a Spooner client or weren’t during those policy
