| Broker | Address | Carrier | Commissions | Fees | Total comp | % of premium |
|---|---|---|---|---|---|---|
| BANKERS COOPERATIVE GROUP, INC. | 411 NORTH AVENUE EAST CRANFORD, NJ 07016 | DELTA DENTAL OF NEW JERSEY, INC. | $0 | $76K | $76K | 2.17% |
| GARY SCHEER3 | 65 MADISON AVENUE SUITE 540 MORRISTOWN, NJ 07960 | DELTA DENTAL OF NEW JERSEY, INC. | $0 | $3K | $3K | 0.08% |
| BANKERS COOPERATIVE GROUP, INC.3 | 411 NORTH AVENUE EAST CRANFORD, NJ 07016 | AETNA LIFE INSURANCE COMPANY | $189K | $94K | $283K | 22.40% |
| PAUL T VECCHIONE3 | 6 MATTHEWS FARM ROAD BELLE MEAD, NJ 08502 | AETNA LIFE INSURANCE COMPANY | — | $307 | $307 | 0.02% |
| BANKERS COOPERATIVE GROUP, INC.3 | 411 NORTH AVENUE EAST CRANFORD, NJ 07016 | VISION SERVICE PLAN | $0 | $32K | $32K | 6.33% |
| BANKERS COOPERATIVE GROUP, INC.3 | 411 NORTH AVENUE EAST CRANFORD, NJ 07016 | SIERRA HEALTH AND LIFE INSURANCE COMPANY, INC. | $31K | $0 | $31K | 15.70% |
| BANKERS COOPERATIVE GROUP, INC.3 | 411 NORTH AVENUE EAST CRANFORD, NJ 07016 | CIGNA BEHAVIORAL HEALTH, INC. | $0 | $18K | $18K | 26.16% |
| BANKERS COOPERATIVE GROUP, INC.3 | 411 NORTH AVE E CRANFORD, NJ 07016 | ZURICH AMERICAN INSURANCE COMPANY | $9K | $0 | $9K | 20.00% |
| BANKERS COOPERATIVE GROUP, INC.3 | 411 NORTH AVE E CRANFORD, NJ 07016 | ZURICH AMERICAN INSURANCE COMPANY | $5K | $0 | $5K | 20.00% |
| BANKERS COOPERATIVE GROUP, INC.3 | 411 NORTH AVENUE EAST CRANFORD, NJ 07016 | FLAGSHIP HEALTH SYSTEMS | $706 | $0 | $706 | 3.73% |
| BANKERS COOPERATIVE GROUP, INC.3 | 411 NORTH AVE E CRANFORD, NJ 07016 | UNITEDHEALTHCARE INSURANCE COMPANY | $642 | $0 | $642 | 4.68% |
| Provider | Services | Address | Compensation |
|---|---|---|---|
| BANKERS COOPERATIVE GROUP, INC. EIN 22-2412247 AFFILIATED COMPANY | Contract Administrator; Custodial (securities) Service code 13 | 411 NORTH AVENUE EAST CRANFORD, NJ 07016 | $277K |
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 | 9,056 | Currently employed and enrolled or eligible. |
| Retired/separated still receiving benefits | 361 | Continuation coverage (COBRA, retiree health). |
| Total participants (= "Plan participants" tile) | 9,417 | Active + retired/separated + beneficiaries. No dependents. |
| Coverage | Top carrier | Persons covered EOY | Premium |
|---|---|---|---|
| Health (medical) | SIERRA HEALTH AND LIFE INSURANCE COMPANY, INC. | 347 | $200K |
| Dental(2 contracts, 2 carriers) | DELTA DENTAL OF NEW JERSEY, INC. | 6,778 | $3.5M |
| Vision(2 contracts, 2 carriers) | VISION SERVICE PLAN | 4,216 | $513K |
| Life insurance | AETNA LIFE INSURANCE COMPANY | 3,169 | $1.3M |
| Long-term disability | AETNA LIFE INSURANCE COMPANY | 3,169 | $1.3M |
| Other(4 contracts, 3 carriers) | AETNA LIFE INSURANCE COMPANY | 8,245 | $1.4M |
| Persons covered (= "Persons covered" tile) | Max across the rows above | 8,245 | — |
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."
Broker compensation exceeds 5% of premium. Either a small-plan minimum-fee dynamic or an inefficient broker structure ripe for a counter-bid.
Multiple-employer welfare arrangement. Specific regulatory and compliance context; specific consultant niche.