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City Council Meeting
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Meeting Date:
05/09/2022
2023 BWC Group Experience Rating Program
Submitted By:
Katie Knisley
Department:
Council Committee Review?:
Council Work Session
Date(s) of Committee Review:
05/03/2022
Audio-Visual Needs:
None
Emergency Legislation?:
No
Motion/Ordinance/
Resolution No.:
2022-R-7123
Agenda Item Description or Legislation Title
A Resolution Authorizing The City Manager To Participate In The Ohio Association Of Public Treasurers 2023 Workers’ Compensation Group Experience Rating Program Administered By CompManagement Inc.
(first reading)
Purpose and Background
The City has been invited back to join the Bureau of Workers' Compensation (BWC) Group Experience Rating Program for policy year 2023 through the Ohio Association of Public Treasurers Group. This group rating program will guarantee an up front discount of 36% on the group premium for 2023. This legislation authorizes the City Manager to enter into agreements with the Ohio Public Treasurers and the City's Third Party Administrator, CompManagement, in order to assist in controlling the City's exposure to risk potentially reducing BWC premiums.
Fiscal Impact
Source of Funds:
Various Funds
Cost:
$156,340
Recurring Cost? (Yes/No):
Yes
Funds Available in Current Budget? (Yes/No):
N/A
Financial Implications:
The CompManagement fee for policy year 2023 is $7,615 and the estimated cost for the 2023 BWC premium is $148,725.
Attachments
Resolution
2022-R-7123
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