THE CHARLES SCHWAB CORPORATION

EIN 94-3025021 · TX · Insurance / Financial Services

Compensation disclosed7 brokers of record, 2021–2024As reported on Form 5500 (Schedules A and C), U.S. Department of Labor.

Employer-paid broker pay2024 · analysis: $1,907,4512023: $2,577,7842022: $2,369,6282021: $1,861,653

2022: $51,211 shown as filed, excluded as a likely filing error

Benchmarked against: Insurance / Financial Services · 10,001–50,000 employees · same industry, nationwide · n=53 employers (your plan plus 52 peers)

Your exact in-state peer group was below the 10-plan minimum, so the comparison broadens to same industry, nationwide within Insurance / Financial Services.

32,178

(latest)

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

Funding

$1,907,451

Broker pay, employer-paid lines (2024)

$4.94

67th pct vs peers · n=53

Lines disclosed: Life · Long-term disability

Broker pay as a share of insured premium: 5.4% (peer median 4.3%, 63rd percentile).

Without the 10 low-disclosure peers, this plan is at the 67th percentile of 43 comparable plans (your plan plus 42 peers).

Employer-paid $1,907,451 benchmarked for 2024 · Voluntary $1,213,313 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: the tightest available peer cell for each line. Full table below. How the national rates are built.

Life

2.3%

Peer median 2.9%

Within peer range

Long-term disability

1.7%

Peer median 3.0%

Within peer range

Stop-loss

6.0%

Peer median 5.0%

Above peer range

Medical

16.8%

Peer median 5.0%

Within peer range

Voluntary / worksite

11.3%

Peer median 17.3%

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 and Vision are not on this filing as their own contracts, so there is no peer rate to show for them.

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 $3,120,764 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)

Long-term disabilityApprenticeship / trainingHealthDentalLife insuranceShort-term disabilityOther

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
Life ($0 premium)	Securian Life Insurance CompanyPlan 501 · 24,738 lives · Life	2.3%	med 2.9%	Within peer range
Long-term disability	Lincoln National Life Insurance Company	1.7%	med 3.0%	Within peer range
Stop-loss	Reliastar Life Insurance Company	6.0%	med 5.0%	Above peer range
Life ($0 premium)	Securian Life Insurance CompanyPlan 501 · 32,152 lives · Life	2.3%	med 2.9%	Within peer range
Medical · contract 0236428	Metropolitan Life Insurance CompanyPlan 501 · 16,033 lives · Health	16.8%	med 5.0%	Within peer range
Voluntary / worksite · contract 4540010	MetLife Legal Plans	11.3%	med 17.3%	Within peer range
Medical · contract 0236429	Metropolitan Life Insurance CompanyPlan 501 · 16,947 lives · Health	16.8%	med 5.0%	Within peer range
Medical · contract 0236430	Metropolitan Life Insurance CompanyPlan 501 · 10,882 lives · Health	16.8%	med 5.0%	Above peer range
Voluntary / worksite · contract 70379	Securian Life Insurance Company	2.2%	med 16.9%	Below peer range
Voluntary / worksite · contract C35891	Berkshire Life Insurance Company of America	46.8%	med 18.5%	Above peer range
Voluntary / worksite · contract 0860300000	Trustmark Insurance Company	100.0%	med 18.5%	Above peer range

3 contracts under $10,000 in premium — listed for completeness, not compared to peers. Show

Medical — Metropolitan Life Insurance Company — Premium under $10,000 is too small to compare
Medical — Metropolitan Life Insurance Company — Premium under $10,000 is too small to compare
Medical — Metropolitan Life Insurance Company — Premium under $10,000 is too small to compare

How the peer group for each line was built

Life: n=78 contracts, Southwest, 10001-50000 covered lives
Long-term disability: n=27 contracts, Southwest, 10001-50000 covered lives
Stop-loss: n=23 contracts, national, 10001-50000 covered lives
Medical: n=15 contracts, Southwest, 10001-50000 covered lives
Voluntary / worksite: n=45 contracts, Southwest, 10001-50000 covered lives
Voluntary / worksite: n=126 contracts, Southwest, 2501-10000 covered lives
Voluntary / worksite: n=514 contracts, Southwest, 501-2500 covered lives
Medical: n=606 contracts, Southwest, 1-100 covered lives

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

Everything in this table is from the 2024 filing. These 14 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. 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 506THE CHARLES SCHWAB DISABILITY PLAN32K participants (2024)

Long-term disabilityApprenticeship / trainingSelf-fundedSelf-funded (incl. mixed, stop-loss and level-funded). · 4 years on file

Loading contracts…

PN 501THE CHARLES SCHWAB GROUP LIFE, ACCIDENTAL DEATH AND DISMEMBERMENT, DEATH BENEFIT, MEDICAL, DENTAL AND VISION PLAN32K participants (2024)

HealthDentalLife insuranceShort-term disabilityOtherSelf-fundedSelf-funded (incl. mixed, stop-loss and level-funded). · 4 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 file4

Lead broker continuityFiled brokername changed

Broker setup6 brokers in 20247 across all years

Most

Peer benchmarkInsurance / Financial Servicesn=53 · national 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: Texas employer health plans · Insurance / Financial Services plans in Texas · all states

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

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