Board of Trustees of the Neca-Ibew Welfare Trust Fund
Updated Filing received by DOL
Board of Trustees of the Neca-Ibew Welfare Trust Fund, a construction employer in Decatur, Illinois, reported 14,299 participants in its health and welfare plan for plan year 2024. Its Form 5500 shows 3 insurance contracts with no premium reported and $495,850 in broker commissions and fees. The plan is a mix of insured and self-funded coverage. The Department of Labor received the filing on April 13, 2026, within the extension window.
Who was paid on Board of Trustees of the Neca-Ibew Welfare Trust Fund's plan
Schedule A, Part I lists each broker or agent paid on each insurance contract and the amount. Totals below add every contract Board of Trustees of the Neca-Ibew Welfare Trust Fund filed for 2024.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Labor First LLC · Mount Laurel, NJ | $433,826 | $0 | $433,826 | 2 |
| Ullico Investment Company, Inc · Silver Springs, MD | $56,004 | $0 | $56,004 | 1 |
| The Union Labor Life Insurance Comp · Silver Springs, MD | $6,020 | $0 | $6,020 | 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 |
|---|---|---|---|---|
| Humana Insurance Company of New Yorkhealth, vision, PPO | 2,763 | — | $427,290 | — |
| The Union Labor Life Insurance Companycoverage not coded | — | — | $62,024 | — |
| Humana Insurance Companyhealth, vision, PPO | 44 | — | $6,536 | — |
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 Board of Trustees of the Neca-Ibew Welfare Trust Fund 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 | 13,054 | 14,299 | +9.5% |
| Premiums filed | $0 | $0 | not comparable |
| Broker commissions + fees | $42,734 | $495,850 | +1060.3% |
| 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 |
|---|---|---|---|---|
| Neca-Ibew Welfare Trust Fund#501 · insurance, trust | June 30, 2025 | April 13, 2026 | within extension | 14,299 |
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 Board of Trustees of the Neca-Ibew Welfare Trust Fund pay in health insurance broker commissions in 2024?
Board of Trustees of the Neca-Ibew Welfare Trust Fund's 2024 Form 5500 reports $495,850 in broker commissions and fees across 3 insurance contracts ($495,850 in commissions, $0 in fees), with Labor First LLC receiving the largest share.
Is Board of Trustees of the Neca-Ibew Welfare Trust Fund'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 Humana Insurance Company of New York, Humana Insurance Company.
How does Board of Trustees of the Neca-Ibew Welfare Trust Fund's broker compensation compare with similar employers?
A commission-to-premium ratio cannot be computed for Board of Trustees of the Neca-Ibew Welfare Trust Fund because the filing does not report medical premium on Schedule A (usual for self-funded plans). In dollars, employers with 5,000+ participants that disclosed broker pay reported a median of $458,262.
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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.