Illinois Bankers Association
Updated Filing received by DOL
Illinois Bankers Association, a finance & insurance employer in Springfield, Illinois, reported 1,727 participants in its health and welfare plan for plan year 2024. Its Form 5500 shows $20M in insurance premiums across 3 contracts and $58,266 in broker commissions and fees, 0.1% of medical premium against a national median of 3.8% among plans that paid commissions in plan year 2024. The plan is a mix of insured and self-funded coverage. The Department of Labor received an amended filing on March 4, 2026; the original filing date is not in the public dataset.
Who was paid on Illinois Bankers Association's plan
Schedule A, Part I lists each broker or agent paid on each insurance contract and the amount. Totals below add every contract Illinois Bankers Association filed for 2024.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Clemens & Assoc Life Agency LTD · Bloomington, IL | $11,808 | $36,708 | $48,516 | 3 |
| Stumm Insurance LLC · Rosemont, IL | $0 | $9,750 | $9,750 | 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 |
|---|---|---|---|---|
| Blue Cross Blue Shield of Illinoishealth, prescription drug | 1,850 | $20M | $21,932 | 0.1% |
| Blue Cross Blue Shield Dentaldental | 1,912 | — | $14,776 | — |
| Dearborn Nationalvision, life, short-term disability, long-term disability | 1,163 | — | $21,558 | — |
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 Illinois Bankers Association 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.
Premium per covered person on medical contracts: $10,951 a year (national median $7,274).
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 | 1,817 | 1,727 | −5.0% |
| Premiums filed | $18,714,630 | $20,258,739 | +8.3% |
| Broker commissions + fees | $31,694 | $58,266 | +83.8% |
| Commission rate | 0.0% | 0.1% | +0.1 pts |
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 |
|---|---|---|---|---|
| Illinois Bankers Group Insurance Trust#501 · amended · insurance, trust | March 31, 2025 | March 4, 2026 | amended filing; original date not in data | 1,727 |
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 Illinois Bankers Association pay in health insurance broker commissions in 2024?
Illinois Bankers Association's 2024 Form 5500 reports $58,266 in broker commissions and fees across 3 insurance contracts ($11,808 in commissions, $46,458 in fees), with Clemens & Assoc Life Agency LTD receiving the largest share.
Is Illinois Bankers Association'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 Blue Cross Blue Shield of Illinois.
How does Illinois Bankers Association's broker compensation compare with similar employers?
Illinois Bankers Association paid 0.1% of medical premium in commissions and fees. The median for employers with 1,000-4,999 participants is 2.0%, and the median in Illinois is 1.5%. Percentages are computed only on fully insured medical contracts with filed premiums.
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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.