Ing Financial Services LLC
Updated Filing received by DOL
Ing Financial Services LLC, a finance & insurance employer in New York, New York, reported 569 participants in its health and welfare plan for plan year 2024. Its Form 5500 shows $1.1M in insurance premiums across 8 contracts and $274,641 in broker commissions and fees. The plan is self-funded (the employer pays claims itself, with stop-loss coverage from Berkshire Hathaway Specialty Insurance Company). The Department of Labor received the filing on October 10, 2025, 71 days after the base deadline with no extension indicated on the form.
Who was paid on Ing Financial Services LLC's plan
Schedule A, Part I lists each broker or agent paid on each insurance contract and the amount. Totals below add every contract Ing Financial Services LLC filed for 2024.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| NFP · New York, NY | $163,545 | $92,445 | $255,990 | 14 |
| Kestra Investment Services LLC · Austin, TX | $18,417 | $0 | $18,417 | 2 |
| Ags Benefits Group LLC · New York, NY | $0 | $134 | $134 | 1 |
| Mercer · Chicago, IL | $0 | $100 | $100 | 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 |
|---|---|---|---|---|
| Berkshire Hathaway Specialty Insurance Companystop-loss | 652 | $953,684 | — | — |
| Vision Service Planvision | 746 | $114,997 | — | — |
| Metropolitan Life Insurance Companydental, life | 1,378 | — | $97,332 | — |
| Sun Life and Health Insurance Company (u.S.long-term disability | 680 | — | $96,407 | — |
| Sun Life and Health Insurance Company (u.S.coverage not coded | 601 | — | $10,370 | — |
| Metropolitan Property and Casualty Insurancecoverage not coded | 171 | — | $4,073 | — |
| Metropolitan Life Insurance Companylife | 386 | — | $18,417 | — |
| Cigna Health & Life Insurance Companycoverage not coded | 652 | — | $48,042 | — |
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 Ing Financial Services LLC 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 | 569 | 569 | +0.0% |
| Premiums filed | $1,138,675 | $1,068,681 | −6.1% |
| Broker commissions + fees | $232,399 | $274,641 | +18.2% |
| 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 |
|---|---|---|---|---|
| Ing Financial Services LLC Health and Welfare Plan#502 · insurance, general assets | December 31, 2024 | October 10, 2025 | 71 days after deadline, no extension indicated | 569 |
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 Ing Financial Services LLC pay in health insurance broker commissions in 2024?
Ing Financial Services LLC's 2024 Form 5500 reports $274,641 in broker commissions and fees across 8 insurance contracts ($181,962 in commissions, $92,679 in fees), with NFP receiving the largest share.
Is Ing Financial Services LLC's health plan self-funded or fully insured?
The 2024 filing indicates the plan is self-funded (the employer pays claims itself, with stop-loss coverage from Berkshire Hathaway Specialty Insurance Company).
How does Ing Financial Services LLC's broker compensation compare with similar employers?
A commission-to-premium ratio cannot be computed for Ing Financial Services LLC 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.