WATERSTONE BANK SSB
EIN 39-0691250 · WI · Insurance / Financial Services
Benchmarked against: Insurance / Financial Services · 501–2,500 employees · same industry, in-state · n=22 employers (your plan plus 21 peers)
508
(2022)
Self-fundedSelf-funded (incl. mixed, stop-loss and level-funded).
Funding
$52,838
Broker pay, employer-paid lines (2022)
$8.67
2022 · 52nd pct vs peers · n=22
Lines disclosed: Vision · Life · Short-term disability
Broker pay as a share of insured premium: 12.0% (peer median 6.8%, 85th percentile).
Without the 6 low-disclosure peers, this plan is 11th highest of 16 comparable plans (your plan plus 15 peers).
Per-participant and share-of-premium comparisons differ because your plan insures a different mix of lines than most peers. The line-by-line rates below are the most direct comparison.
Showing 2022, the latest year with a complete peer group. A 2024 filing is on file and appears in broker history; it is not benchmarked yet.
Why 2022?
The figures above use 2022, the latest year we can compare with similar employers. A filing for 2023–2024 is on file. Only a smaller plan has filed for 2023 so far. The main plan's filing is not in yet, so that year cannot carry the comparison. Only a smaller plan has filed for 2024 so far. The main plan's filing is not in yet, so that year cannot carry the comparison. 2023 broker pay on file so far totals $125,535 across all lines, about 138% more than the $52,838 for 2022. 2024 broker pay on file so far totals $113,168 across all lines, about 114% more than the $52,838 for 2022. Rows for 2023–2024 stay in the broker history and stay out of the headline and the peer comparison.
Self-funded medical. This figure is commissions on the insured ancillary lines (life, disability, dental, vision, stop-loss). A self-funded employer's medical advisor is typically paid a fee outside these filings, so total broker pay is usually higher than the figure shown.
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.
Life
16.8%
Peer median 10.5%
Above peer rangeShort-term disability
10.2%
Peer median 11.9%
Within peer rangeVision
9.2%
Peer median 9.9%
Within peer rangeDental is not on this filing as its own contract, so there is no peer rate to show for it.
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 $52,838 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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Line-item breakdown, multi-year trend, and methodology-backed framing — ready for fiduciary oversight and recordkeeping.
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Benefits covered (latest filing)
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
Medical here is self-funded. The employer pays its own health claims (usually through a TPA), so there's no insurance contract for medical and it never appears on Schedule A. The itemized coverages in this filing are the insured ancillary lines — dental, vision, life, disability. Schedule C captures advisor pay two ways: paid directly from plan assets, or received indirectly from a carrier or vendor in connection with the plan. This plan has no Schedule C on file — so any advisor compensation beyond those ancillary lines isn't captured in this filing.
The 2024 filings on file so far are from smaller plans; the main plan has not filed 2024 yet. The analysis year is 2022, 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 2022 — the same year as the headline figure and per-participant rate above. The 2024 filings on file so far are from smaller plans; the main plan has not filed 2024 yet.
| Benefit line | Contract | Rate | vs. peers | Position |
|---|---|---|---|---|
| Life · contract 731455 | Reliastar Life Insurance Company | 16.8% | med 10.5% | Above peer range |
| Short-term disability · contract 731455 | Reliastar Life Insurance Company | 10.2% | med 11.9% | Within peer range |
| Vision | Wyssta Insurance Company Inc | 9.2% | med 9.9% | Within peer range |
| Life · contract 164726 | Standard Insurance Company | 0.2% | med 10.5% | No commission on this contract |
| Short-term disability · contract 164726 | Standard Insurance Company | 0.8% | med 11.9% | No commission on this contract |
How the peer group for each line was built
- Life: n=1,211 contracts, Midwest, 501-2500 covered lives
- Short-term disability: n=1,127 contracts, Midwest, 101-500 covered lives
- Vision: n=3,116 contracts, Midwest, 101-500 covered lives
n = the number of peer contracts in that comparison group.
Everything in this table is from the 2022 filing. These 5 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. 2024 is not rated here. Its rows appear in Broker history above as filed — pick 2024 on the year chips there to see them.
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 506WATERSTONE BANK SSB VOLUNTARY LIFE696 participants (2022)DentalFully insured · 2 years on file
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PN 510WATERSTONE BANK SSB BENEFITS PLAN580 participants (2024)HealthDentalLife insuranceShort-term disabilityLong-term disabilityApprenticeship / trainingSeveranceOtherSelf-fundedSelf-funded (incl. mixed, stop-loss and level-funded). · 2 years on file
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PN 504WATERSTONE BANK SSB DENTAL PLAN518 participants (2022)Life insuranceSelf-fundedSelf-funded (incl. mixed, stop-loss and level-funded). · 2 years on file
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PN 501WATERSTONE BANK SSB FLEXIBLE SPENDING PLAN508 participants (2022)HealthOtherSelf-fundedSelf-funded (incl. mixed, stop-loss and level-funded). · 2 years on file
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PN 505WATERSTONE BANK SSB VISION PLAN417 participants (2022)Short-term disabilityFully insured · 2 years on file
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PN 507WATERSTONE BANK SSB SHORT TERM DISABILITY PLAN255 participants (2022)Long-term disabilityFully insured · 2 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
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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.
- TWO HARBORS INVESTMENT CORP.MinnesotaCompensation disclosed →
- INTERMEX WIRE TRANSFER, LLCFloridaCompensation disclosed →
- BETANXTNew YorkCompensation disclosed →
- TOWER RESEARCH CAPITAL LLCNew YorkCompensation disclosed →
- ASSOCIATION MEMBER BENEFITS ADVISORS, LLCTexasCompensation disclosed →
Browse more: Wisconsin employer health plans · Insurance / Financial Services plans in Wisconsin · all states
Sourced from Form 5500 filings as submitted to the U.S. Department of Labor. Analysis year: 2022; newest plan year with a filing on file: 2024. 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.
Report a data discrepancy
Unbrokered reports data as filed with the DOL. If you believe a figure is incorrect, tell us what it should be. We respond within 2 business days and, where the underlying filing has been amended, update on our next data refresh. We don't remove publicly filed information on request, but we do correct genuine errors.