Derrick Corporation
Updated Filing received by DOL a plan year 2025 filing was received August 6, 2026 for 1 of this employer's 2 plans; this record moves to 2025 when all have arrived
Derrick Corporation, a manufacturing — metal, equipment, transportation employer in Buffalo, New York, reported 543 participants in its health and welfare plans for plan year 2024. Its Form 5500 shows 4 insurance contracts with no premium reported and $144,305 in broker commissions and fees. The plan is a mix of insured and self-funded coverage. The Department of Labor received the filing on July 24, 2025, before the deadline.
Who was paid on Derrick 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 Derrick Corporation filed for 2024.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Walsh Duffield Co. Inc. · Buffalo, NY | $117,715 | $0 | $117,715 | 3 |
| James R. Nelligan & Associates, LLC · Wall, NJ | $0 | $26,583 | $26,583 | 1 |
| BMG of WNY Inc. · Depew, NY | $7 | $0 | $7 | 1 |
| USI Insurance Services · Buffalo, NY | $0 | $0 | $0 | 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 |
|---|---|---|---|---|
| Highmark Western and Northeastern New York Inc.health, prescription drug, PPO | 1,145 | — | $77,926 | — |
| Guardian Life Insurance Companydental | 648 | — | $2,558 | — |
| The Hartfordlife, short-term disability, long-term disability | 595 | — | $63,821 | — |
| Chubbcoverage not coded | 656 | — | — | — |
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 Derrick 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 | 596 | 543 | −8.9% |
| Premiums filed | $0 | $0 | not comparable |
| Broker commissions + fees | $167,375 | $144,305 | −13.8% |
| 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 |
|---|---|---|---|---|
| Derrick Corporation Welfare Benefits Plan#501 · insurance, general assets | December 31, 2024 | July 24, 2025 | before deadline | 543 |
| Derrick Corporation Flexible Spending Account#503 · general assets | December 31, 2024 | June 18, 2025 | before deadline | 148 |
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 Derrick Corporation pay in health insurance broker commissions in 2024?
Derrick Corporation's 2024 Form 5500 reports $144,305 in broker commissions and fees across 4 insurance contracts ($117,722 in commissions, $26,583 in fees), with Walsh Duffield Co. Inc. receiving the largest share.
Is Derrick 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 Highmark Western and Northeastern New York Inc..
How does Derrick Corporation's broker compensation compare with similar employers?
A commission-to-premium ratio cannot be computed for Derrick Corporation because the filing does not report medical premium on Schedule A (usual for self-funded plans). In dollars, employers with 500-999 participants that disclosed broker pay reported a median of $104,902.
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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.