Albemarle Corporation
Updated Filing received by DOL
Albemarle Corporation, a manufacturing — chemical, wood, plastics employer in Charlotte, North Carolina, reported 2,616 participants in its health and welfare plan for plan year 2024. Its Form 5500 shows 9 insurance contracts with no premium reported and $343,703 in broker commissions and fees. The plan is a mix of insured and self-funded coverage. The Department of Labor received the filing on October 14, 2025, within the extension window.
Who was paid on Albemarle Corporation's plan
Schedule A, Part I lists each broker or agent paid on each insurance contract and the amount. Totals below add every contract Albemarle Corporation filed for 2024.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Lockton · Dallas, TX | $132,698 | $55,628 | $188,326 | 6 |
| Ias Series of Lockton Specialties · San Francisco, CA | $0 | $91,583 | $91,583 | 1 |
| Mercer · New York, NY | $0 | $40,235 | $40,235 | 1 |
| Sags Joint Venture · North Charleston, SC | $22,605 | $0 | $22,605 | 1 |
| Workplace Solutions, Inc. · Columbia, SC | $953 | $0 | $953 | 1 |
| Beau David Boudreaux · Columbia, SC | $1 | $0 | $1 | 1 |
Source: DOL Form 5500 Schedule A, Part I (broker commissions and fees), plan year 2024, as published in EBSA's 2024 "Latest" dataset. Part I names whoever the carrier paid, which can be a firm or an individual agent; both are public record. Amounts exclude pay from carriers not tied to a listed contract.
Insurance contracts and carriers
Every insurance contract reported on Schedule A: carrier, what it covers, people covered at year end, earned premium, and broker compensation.
| Carrier · coverage | Covered | Premium | Broker pay | Rate |
|---|---|---|---|---|
| Metropolitan Life Insurance Companydental, vision, life, short-term disability, long-term disability | 5,370 | — | $132,542 | — |
| Unum Insurance Companycoverage not coded | 378 | — | $92,549 | — |
| Unum Life Insurance Company of Americacoverage not coded | 895 | — | $21,001 | — |
| Metlife Legal Planscoverage not coded | 418 | — | — | — |
| Modern Healthcoverage not coded | 2,129 | — | — | — |
| Sierra Health and Life Insurance Co., Inc.health | 802 | — | — | — |
| Unitedhealthcare Insurance Companycoverage not coded | 2,129 | — | — | — |
| Unum Insurance Companycoverage not coded | 495 | — | $56,566 | — |
| Provident Life and Accident Insurance Companylife, long-term disability | 66 | — | $41,045 | — |
Source: DOL Form 5500 Schedule A, plan year 2024. Self-funded medical coverage has no premium; amounts shown for it are stop-loss or administrative contracts.
How Albemarle Corporation compares
Medians across employers for plan year 2024, the most recent complete year. Commission rates use fully insured medical contracts only; dollar medians use every employer that disclosed broker pay.
Not computable: no insured medical premium on the filing.
Source: BenefitsLedger benchmarks from 58,547 employer health plans with 100 or more participants, plan year 2024. Methodology.
Year over year
| 2023 | 2024 | Change | |
|---|---|---|---|
| Participants | 2,136 | 2,616 | +22.5% |
| Premiums filed | $0 | $0 | — |
| Broker commissions + fees | $153,766 | $343,703 | +123.5% |
| Commission rate | — | — | — |
Source: DOL Form 5500 filings for plan years 2023 and 2024.
Filings and timeliness
Plans this employer filed under its EIN with a health benefit code. Large plans are due seven months after the plan year ends, or two and a half months later with an extension; amended filings carry the amendment date, so no timing is asserted for them.
| Plan | Plan year end | Received by DOL | Timing | Participants |
|---|---|---|---|---|
| Albemarle Corporation Health and Welfare Plan#501 · insurance, general assets | December 31, 2024 | October 14, 2025 | within extension | 2,616 |
Source: DOL Form 5500 Part I and signature dates; "late" means received after the extended deadline (the 15th day of the tenth month after plan year end). What a late Form 5500 costs.
How much did Albemarle Corporation pay in health insurance broker commissions in 2024?
Albemarle Corporation's 2024 Form 5500 reports $343,703 in broker commissions and fees across 9 insurance contracts ($156,257 in commissions, $187,446 in fees), with Lockton receiving the largest share.
Is Albemarle Corporation's health plan self-funded or fully insured?
The 2024 filing indicates the plan is a mix of insured and self-funded coverage. Medical coverage is written by Sierra Health and Life Insurance Co., Inc..
How does Albemarle Corporation's broker compensation compare with similar employers?
A commission-to-premium ratio cannot be computed for Albemarle Corporation because the filing does not report medical premium on Schedule A (usual for self-funded plans). In dollars, employers with 1,000-4,999 participants that disclosed broker pay reported a median of $168,579.
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Record built October 24, 2026 from U.S. Department of Labor, EBSA Form 5500 datasets (2025, 2024, 2023 plan years, 'Latest' files). Filings can run 7 to 10 months behind the plan year; always confirm against current plan documents. BenefitsLedger is not affiliated with the U.S. Department of Labor. Open the DOL filing search.