| Broker | Address | Carrier | Commissions | Fees | Total comp | % of premium |
|---|---|---|---|---|---|---|
| HICKOK & BOARDMAN FINANCIAL3 | PO BOX 1064 BURLINGTON, VT 05402 | SUN LIFE ASSURANCE COMPANY OF CANADA | $23K | — | $23K | 9.18% |
| HICKOK & BOARDMAN FINANCIAL3 Filed as: HICKOK AND BOARDMAN FINANCIAL PL. | 346 SHELBURNE RD 5TH FLOOR BURLINGTON, VT 05401 | UNUM LIFE INSURANCE COMPANY OF AMERICA | $3K | $3K | $6K | 3.78% |
| Provider | Services | Address | Compensation |
|---|---|---|---|
| TOWERS WATSON DELAWARE, INC EIN 53-0181291 NONE | Actuarial Service code 11 | — | $65K |
| MORGAN STANLEY SMITH BARNEY EIN 26-4310632 NONE | Other fees; Custodial (securities); Other services; Securities brokerage; Direct payment from the plan; Other investment fees and expenses; Investment advisory (plan) Service code 19 | — | $63K |
| MCSOLEY MCCOY AND CO. EIN 03-0327374 NONE | Accounting (including auditing) Service code 10 | — | $24K |
| BMO HARRIS BANK NA EIN 36-2085229 NONE | Trustee (bank, trust company, or similar financial institution); Direct payment from the plan; Float revenue; Custodial (securities) Service code 19 | — | $8K |
Benefits declared on the Form 5500 main form (✓ = also has a Schedule A insurance contract; otherwise the benefit is funded out of plan assets or via a Schedule C TPA).
The plan reports several different headcounts depending on which form you read. Each one measures a different slice of the population.
| Active participants | 0 | Currently employed and enrolled or eligible. |
| Retired/separated still receiving benefits | 0 | Continuation coverage (COBRA, retiree health). |
| Retired/separated still eligible | 715 | Vested but not currently using benefits. |
| Total participants (= "Plan participants" tile) | 715 | Active + retired/separated + beneficiaries. No dependents. |
| Coverage | Top carrier | Persons covered EOY | Premium |
|---|---|---|---|
| Life insurance | UNUM LIFE INSURANCE COMPANY OF AMERICA | 156 | $157K |
| Stop-loss / reinsurancereinsurance | SUN LIFE ASSURANCE COMPANY OF CANADA | 168 | $253K |
| Persons covered (= "Persons covered" tile) | Max across the rows above | 168 | — |
Why the numbers differ. Form 5500 line 6 counts employees + retirees + beneficiaries; no dependents. Schedule A persons-covered counts everyone enrolled, including spouses and children, so it usually exceeds line 6 by 30-60% on a working-age workforce. The medical row is normally the broadest single line because it has the highest take-up; dental/vision/life often dip below it. Stop-loss / reinsurance contracts sometimes report the carrier's full underwriting pool rather than this filer's headcount; the row is shown for transparency but shouldn't be read as "people in this plan."
Total premium grew more than 20% over prior year. Renewal pain — prime candidate for re-shopping the carriers.
Broker compensation exceeds 5% of premium. Either a small-plan minimum-fee dynamic or an inefficient broker structure ripe for a counter-bid.