BADGER METER, INC

Formerly BADGER METER, INC.

EIN 39-0143280 · WI · Manufacturing — Heavy

Compensation disclosed10 brokers of record, 2021–2025As reported on Form 5500 (Schedules A and C), U.S. Department of Labor.

Employer-paid broker pay2025 · analysis: $111,6322024: $122,9342023: $47,5542022: $39,7842021: $25,1132019: Not reported2018: Not reported2017: Not reported2016: Not reported2015: Not reported2014: Not reported2013: Not reported2012: Not reported2011: Not reported

Benchmarked against: Manufacturing — Heavy · 501–2,500 employees · same industry, in-state · n=46 employers (your plan plus 45 peers)

975

(latest)

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

Funding

$111,632

Broker pay, employer-paid lines (2025)

$9.54

67th pct vs peers · n=46

Lines disclosed: Vision · Life · Long-term disability

Broker pay as a share of insured premium: 5.4% (peer median 5.8%, 47th percentile).

Without the 3 low-disclosure peers, this plan is at the 64th percentile of 43 comparable plans (your plan plus 42 peers).

Employer-paid $111,632 benchmarked for 2025 · Voluntary $28,814 shown separately, compared by rate only

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.

Stop-loss

5.0%

Peer median 6.0%

Within peer range

Medical

4.6%

Peer median 3.3%

Above peer range

Life

6.5%

Peer median 11.3%

Within peer range

Voluntary / worksite

20.0%

Peer median 19.4%

Within peer range

Long-term disability

6.5%

Peer median 15.0%

Below peer range

Vision

8.0%

Peer median 9.9%

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.

Dental is not on this filing as its own contract, so there is no peer rate to show for it.

Where the $140,446 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 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:

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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.

Benefit line	Contract	Rate	vs. peers	Position
Stop-loss	Qbe Insurance Corporation	5.0%	med 6.0%	Within peer range
Medical · contract H2001	Sierra Health and Life Insurance Company, Inc.	4.6%	med 3.3%	Above peer range
Lifefiled as “Life, Other (ACCIDENTAL DEATH & DI…”	Reliance Standard Life Insurance Company	6.5%	med 11.3%	Within peer range
Voluntary / worksitemulti-product: accident + critical illness	Reliastar Life Insurance Company	20.0%	med 19.4%	Within peer range
Long-term disability	Reliance Standard Life Insurance Company	6.5%	med 15.0%	Below peer range
Vision	Wyssta Insurance Company Inc	8.0%	med 9.9%	Within peer range
Medical · contract MS9705	Community Care	3.1%	med 3.8%	No commission on this contract

How the peer group for each line was built

Stop-loss: n=83 contracts, Midwest, 501-2500 covered lives
Medical: n=2,275 contracts, Midwest, 101-500 covered lives
Life: n=720 contracts, Midwest, 501-2500 covered lives
Voluntary / worksite: n=640 contracts, Midwest, 501-2500 covered lives
Long-term disability: n=1,023 contracts, Midwest, 101-500 covered lives
Vision: n=971 contracts, Midwest, 501-2500 covered lives
Medical: n=998 contracts, Midwest, 1-100 covered lives

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

Everything in this table is from the 2025 filing. These 7 contracts are a subset of the broker compensation disclosed for that year. The remainder sits on bundled multi-line contracts, contracts with no premium reported, or Schedule C service-provider fees, none of which carry a comparable single-line rate.

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. A rate on bundled multi-line premium is not comparable to a single-line rate, so bundled contracts are never given a peer position. A near-zero rate on a large premium usually means the broker is paid elsewhere (through a bundled contract, a Schedule C fee, or commission on other lines), so no market position is shown for that contract.

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 511BADGER METER HEALTH AND WELFARE WRAP PLAN975 participants (2025)

HealthDentalLife insuranceShort-term disabilityApprenticeship / trainingSeveranceOtherSelf-fundedSelf-funded (incl. mixed, stop-loss and level-funded). · 3 years on file

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PN 507BADGER METER, INC. FLEXIBLE BENEFITS PLAN109 participants (2024)

HealthSelf-fundedSelf-funded (incl. mixed, stop-loss and level-funded). · 4 years on file

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PN 509BADGER METER, INC ACCIDENT & CRITICAL ILLNESS PLANS0 participants (2022)

OtherSelf-fundedSelf-funded (incl. mixed, stop-loss and level-funded). · 2 years on file

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PN 501BADGER METER, INC GROUP LIFE INSURANCE PLAN0 participants (2022)

DentalSeveranceSelf-fundedSelf-funded (incl. mixed, stop-loss and level-funded). · 2 years on file

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PN 502BADGER METER, INC VISION CARE0 participants (2022)

Short-term disabilitySelf-fundedSelf-funded (incl. mixed, stop-loss and level-funded). · 2 years on file

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PN 505BADGER METER, INC GROUP HEALTH PLAN0 participants (2022)

HealthOtherSelf-fundedSelf-funded (incl. mixed, stop-loss and level-funded). · 2 years on file

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PN 506BADGER METER, INC GROUP DENTAL PLAN0 participants (2022)

Life insuranceSelf-fundedSelf-funded (incl. mixed, stop-loss and level-funded). · 2 years on file

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PN 508BADGER METER, INC EMPLOYEE ASSISTANCE PROGRAM0 participants (2022)

OtherSelf-fundedSelf-funded (incl. mixed, stop-loss and level-funded). · 11 years on file

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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 file5

Lead broker continuityFiled brokername changed

Broker setup3 brokers in 202510 across all years

Most

Peer benchmarkManufacturing — Heavyn=46 · state peers

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How do similar employers compare?

Employers in the same peer group (Manufacturing — Heavy, similar size), from public Form 5500 filings. Open one to see what it pays its broker.

Browse more: Wisconsin employer health plans · Manufacturing — Heavy plans in Wisconsin · all states

Sourced from Form 5500 filings as submitted to the U.S. Department of Labor. Most recent plan year 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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