7083-95 BWC Retrospective Rating Plan

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REFERRED TO FINANCE COMMITTEE 10/16/95. RESOLUTION NO. 7083-95 BY: Boscia, Flannery, George, Gibbonns, Roth, Seelie, Smith A RESOLUTION authorizing the Director of Finance to enter into an agreement with the State of Ohio, Bureau of Worker's Compensation for a Retrospective Rating Plan for the City of Lakewood. WHEREAS, the overall cost of the payments for Worker's Compensation by the City of Lakewood had been increasing at an alarming rate, and WHEREAS, the State Legislature adopted, and the Ohio Bureau of Workers' Compensation offers, a program to reduce overall costs of Workers' Compensation called Retrospective Rating, and WHEREAS, The Retrospective Rating Plan as offered by the State of Ohio for Workers' Compensation is a form of self-insurance, and has resulted in significant savings in the years the City has utilized it; now therefore, BE IT RESOLVED BY THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. The Director of Finance shall be and he is hereby authorized to enter into an agreement with the State of Ohio, Bureau of Workers' Compensation for a Retrospective Rating Plan for Workers' Compensation coverage for employees of the City of Lakewood in accordance with applicable provisions of State law and the Codified Ordinances of the City of Lakewood. Section 2. It is found and determined that all formal actions of this Council concerning and relating to the passage of this resolution were adopted in an open meeting of this Council, and that all such deliberations of this Council and of any of its committees that resulted in such formal action were in meetings open to the public in compliance with all legal requirements. Section 3. That this resolution shall take effect and be in force from and after the earliest period allowed by law. Adopted: Approved:~ ~.///f