MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION

EIN 38-1373106 · MI · Insurance / Financial Services

Compensation disclosed100 brokers of record, 2018–2025As reported on Form 5500 (Schedules A and C), U.S. Department of Labor.

Employer-paid broker pay2025: $131,6982024 · analysis: $1,712,2002023: $1,482,5492022: $1,157,4812021: $242,9972018: $150,739

Benchmarked against: Insurance / Financial Services · 501–2,500 employees · same industry, in-state · n=16 employers (your plan plus 15 peers)

1,368

(2024)

Self-fundedSelf-funded (incl. mixed, stop-loss and level-funded).

Funding

$1,712,200

Broker pay, employer-paid lines (2024)

$104.30

2024 · The highest disclosed broker pay among 16 comparable plans (your plan plus 15 peers)

Lines disclosed: Dental · Vision · Life · Short-term disability · Long-term disability

Broker pay as a share of insured premium: 70.9% (peer median 8.2%, the highest disclosed broker pay among 16 comparable plans (your plan plus 15 peers)).

Without the 1 low-disclosure peer, this plan is the highest disclosed broker pay among 15 comparable plans (your plan plus 14 peers).

Employer-paid $1,712,200 benchmarked for 2024 · Voluntary $27,610 shown separately, compared by rate only

Showing 2024, the latest year with a complete peer group. A 2025 filing is on file and appears in broker history; it is not benchmarked yet.

Why 2024?

The figures above use 2024, the latest year we can compare with similar employers. A filing for 2025 is on file. 2025 shows commissions paid through insurance contracts, and is missing the compensation the plan pays brokers directly that a recent prior year reported. A missing schedule usually means that year's filing is still arriving, so we wait for both before comparing the year with peers. 2025 broker pay on file so far totals $131,698 across all lines, about 92% less than the $1,739,810 for 2024. Rows for 2025 stay in the broker history and stay out of the headline and the peer comparison.

Broker commission rate by benefit line

What the broker earns on each insured line, as a share of that line's own premium — not a share of total broker pay, and not what the coverage cost. Peers for these tiles: same region, similar covered lives. Full table below. How the national rates are built.

Dental

1.2%

Peer median 2.7%

Below peer range

Vision

9.0%

Peer median 9.4%

Within peer range

Short-term disability

19.0%

Peer median 12.6%

Above peer range

Life

16.8%

Peer median 10.9%

Above peer range

Voluntary / worksite

24.0%

Peer median 19.1%

Within peer range

Voluntary / worksite premium is typically paid by employees through payroll deduction, so commission on those lines comes out of employee money rather than company money.

This page shows what was filed. The report shows what it means.

What the gap is worth — the dollar difference vs. peer median, including a 3-year view
The current structure compared against levels comparable plans actually reported
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Where the $1,739,810 across all lines goes

Each broker and each benefit line, in dollars

How much broker pay rides inside the premium

Base commission against bonuses and other carrier payments, all funded through premium

Whether this number is drifting

Compensation across every filed year, against the peer median

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Benefits covered (latest filing)

HealthDentalLife insuranceShort-term disabilityLong-term disabilityApprenticeship / trainingSeveranceOther

From the Form 5500 welfare benefit codes — the authoritative list of what the plan covers, including medical (health).

Broker history

Benefit lines covered by year — broker identity limited on public pages

Year:

The 2025 filing is on file, but one of its compensation schedules has not arrived yet. The analysis year is 2024, the latest year that is complete and benchmarked.

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Commission rates by benefit line

Each insured contract on the filing, with the broker's commission as a share of that contract's own premium. Premium is what was paid to the carrier for the coverage; only the commission column is broker pay.

Analysis year 2024 — the same year as the headline figure and per-participant rate above. The 2025 filing is on file, but one of its compensation schedules has not arrived yet.

Benefit line	Contract	Rate	vs. peers	Position
Dental	Delta Dental of Michigan	1.2%	med 2.7%	Below peer range
Vision	Starmount Life Insurance Company	9.0%	med 9.4%	Within peer range
Short-term disability	Unum Life Insurance Company of America	19.0%	med 12.6%	Above peer range
Life	Unum Life Insurance Company of America	16.8%	med 10.9%	Above peer range
Voluntary / worksite · contract 947925	Unum Insurance CompanyPlan 511 · 440 lives · Other (ATTAINED AGE CRITICAL ILLNE…	24.0%	med 19.1%	Within peer range
Voluntary / worksite · contract 947924	Unum Insurance CompanyPlan 511 · 367 lives · Other (GROUP ACCIDENT)	24.0%	med 19.1%	Within peer range

Bundled and other contracts — no single-line peer comparison

A bundled contract covers two or more lines on one premium (for example Health + Dental). Its effective rate is the commission on the whole premium; it is shown for completeness and never compared with single-line peers, because the mix of lines inside the bundle sets the rate as much as the broker does.

Covers	Contract	Effective rate	vs. peers
Life + Long-term disability	Unum Life Insurance Company of AmericaPlan 511	4.4%	Bundled; no single-line peer
Other benefitHOSPITAL EE PAID	Unum Insurance CompanyPlan 511	24.0%	No comparable line

How the peer group for each line was built

Dental: n=130 contracts, Midwest, 2501-10000 covered lives
Vision: n=1,235 contracts, Midwest, 501-2500 covered lives
Short-term disability: n=1,155 contracts, Midwest, 101-500 covered lives
Life: n=1,131 contracts, Midwest, 501-2500 covered lives
Voluntary / worksite: n=2,420 contracts, Midwest, 101-500 covered lives

n = the number of peer contracts in that comparison group.

Everything in this table is from the 2024 filing. These 8 contracts are a subset of the broker compensation disclosed for that year. The remainder sits on contracts with no premium reported or on Schedule C service-provider fees, which carry no contract rate. 2025 is not rated here. Its rows appear in Broker history above as filed — pick 2025 on the year chips there to see them.

Who funds this. Voluntary / worksite premium is typically paid by employees through payroll deduction, so commission on those lines comes out of employee money rather than company money.

Peer comparison here is contract-level: each line is matched to single-line contracts covering a similar number of lives. The geography and size band come from that cell's generated scope label. That is a different group from the plan-level peer set, which compares employers on total broker cost per employee, so the two sample sizes are not expected to agree. The national table on the research page includes every single-line contract on that benefit line. Company pages use the tightest cell with at least 10 contracts — region and size when those exist, otherwise national. The two medians answer different questions, so they are not expected to match. Contracts under $10,000 in premium are listed for completeness, with no rate or peer position.

Plans on file

Expand a plan to see its insured contracts and year-over-year history — the details someone on the plan can recognize and verify.

PN 511MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION WRAP PLAN1.4K participants (2025)

HealthDentalLife insuranceShort-term disabilityLong-term disabilityApprenticeship / trainingSeveranceOtherSelf-fundedSelf-funded (incl. mixed, stop-loss and level-funded). · 6 years on file

Loading contracts…

Covers = benefits reported on the Form 5500 (welfare benefit codes). Contracts = insured lines itemized on Schedule A; a self-funded medical line never appears there.

At a glance

Primary brokerLimited on public pages

Years on file6

Lead broker continuityFiled brokername changed

Broker setup3 brokers in 2024100 across all years

Some

Peer benchmarkInsurance / Financial Servicesn=16 · state peers

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How do similar employers compare?

Employers in the same peer group (Insurance / Financial Services, similar size), from public Form 5500 filings. Open one to see what it pays its broker.

Browse more: Michigan employer health plans · Insurance / Financial Services plans in Michigan · all states

Sourced from Form 5500 filings as submitted to the U.S. Department of Labor. Analysis year: 2024; newest plan year with a filing on file: 2025. Dataset refreshed October 7, 2026. Plan years are labeled by the year they begin, so a July 2024 – June 2025 plan year is 2024. Filings may lag 12–18 months behind the current plan year.

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