| Broker | Address | Carrier | Commissions | Fees | Total comp | % of premium |
|---|---|---|---|---|---|---|
| KD BENEFITS INS BROKERAGE INC3 | 19 SUNSET TERRACE MERRIMAC, NH 01860 | GUARDIAN LIFE INSURANCE | $3K | — | $3K | 16.55% |
| USI INSURANCE SERVICES LLC3 | — | GUARDIAN LIFE INSURANCE | -$863 | — | -$863 | -4.72% |
| Provider | Services | Address | Compensation |
|---|---|---|---|
| MORGAN STANLEY SMITH BARNEY EIN 26-4310632 INVESTMENT ADVISOR | Investment advisory (plan); Custodial (securities) Service code 19 | 600 LONGWATER DRIVE NORWELL, MA 02061 | $19K |
| JAMES J GARRITY CPA EIN 04-2958350 INDEPENDENT ACCOUNTANT | Accounting (including auditing) Service code 10 | 733 NEPONSET STREET NORWOOD, MA 02062 | $9K |
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 | 130 | Currently employed and enrolled or eligible. |
| Total participants (= "Plan participants" tile) | 130 | Active + retired/separated + beneficiaries. No dependents. |
| Coverage | Top carrier | Persons covered EOY | Premium |
|---|---|---|---|
| Life insurance | GUARDIAN LIFE INSURANCE | 158 | $18K |
| Short-term disability | GUARDIAN LIFE INSURANCE | 158 | $18K |
| Persons covered (= "Persons covered" tile) | Max across the rows above | 158 | — |
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."
The primary carrier changed from prior filing. The plan is already willing to move; opportunity to re-pitch on the next cycle.
Broker compensation exceeds 5% of premium. Either a small-plan minimum-fee dynamic or an inefficient broker structure ripe for a counter-bid.
Top carrier holds >85% of premium. If that carrier hits a rate increase, the entire plan moves.