BWC statement regarding Ennis Knupp's performance report Print E-mail
Thursday, September 15, 2005

Tina Kielmeyer, interim Administrator and CEO of the Ohio Bureau of Workers’ Compensation (BWC) released the following statement regarding Ennis Knupp’s performance report.

“After reviewing Ennis Knupp’s report on the Bureau of Workers’ Compensation’s (BWC’s) historical investment performance, it’s apparent there were opportunities for increased improvement beyond the $10 billion returned to Ohio businesses over the last decade.

“However, BWC is focused on the present and the future, not the past. Already, we have successfully implemented nearly 70 percent of the Management Review Team’s recommendations, and Ennis Knupp has confirmed the $14.3 billion State Insurance Fund is whole. We’ve increased transparency and enhanced our internal controls both in investments and in other key areas such as internal audit. Furthermore, by improving our infrastructure, we’re able to hold internal staff and external investment firms accountable for their decisions in responsibly managing monies on behalf of businesses and their workers.

“BWC has made great progress thus far, and we will use Ennis Knupp’s recommendations on performance calculation as a foundation for ensuring accuracy with the numbers we report in the future. We look forward to successfully finishing the job and running an investment operation that’s above reproach. Above all else, we are committed to doing all we can to win back the trust and confidence of Ohio’s employers and their dedicated, hard-working employees.”

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Media contact: Jeremy Jackson, Ohio Bureau of Workers’ Compensation, at (614) 752-7558, or Emily Hicks, (614) 728-6197.