Ngk-Locke, Inc. Section 125 Plan
Updated Filing received by DOL
Ngk-Locke, Inc. Section 125 Plan, a manufacturing — metal, equipment, transportation employer in Virginia Beach, Virginia, reported 140 participants in its health and welfare plan for plan year 2025. Its Form 5500 shows $511,059 in insurance premiums across 6 contracts and $597,837 in broker commissions and fees. The plan is a mix of insured and self-funded coverage. The Department of Labor received the filing on August 4, 2026, 4 days after the base deadline with no extension indicated on the form.
Who was paid on Ngk-Locke, Inc. Section 125 Plan's plan
Schedule A, Part I lists each broker or agent paid on each insurance contract and the amount. Totals below add every contract Ngk-Locke, Inc. Section 125 Plan filed for 2025.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Carefirst Administrators · Baltimore, MD | $0 | $559,482 | $559,482 | 1 |
| Cypress Benefits Group Inc · Sparks Glencoe, MD | $38,355 | $0 | $38,355 | 5 |
Source: DOL Form 5500 Schedule A, Part I (broker commissions and fees), plan year 2025, as published in EBSA's 2025 "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 |
|---|---|---|---|---|
| Carefirst Administratorshealth, prescription drug, stop-loss, PPO | 129 | $511,059 | $559,482 | 109.5% |
| Principal Life Insurance Companydental, PPO | 227 | — | $14,169 | — |
| American United Life Insurance Companylife | 155 | — | $7,609 | — |
| American United Life Insurance Companyshort-term disability | 154 | — | $7,857 | — |
| American United Life Insurance Companylong-term disability | 154 | — | $7,710 | — |
| Superior Vision Planvision | 240 | — | $1,010 | — |
Source: DOL Form 5500 Schedule A, plan year 2025. Self-funded medical coverage has no premium; amounts shown for it are stop-loss or administrative contracts.
How Ngk-Locke, Inc. Section 125 Plan 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.
Premium per covered person on medical contracts: $3,962 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
| 2024 | 2025 | Change | |
|---|---|---|---|
| Participants | 123 | 140 | +13.8% |
| Premiums filed | $437,159 | $511,059 | +16.9% |
| Broker commissions + fees | $495,441 | $597,837 | +20.7% |
| Commission rate | — | — | — |
Source: DOL Form 5500 filings for plan years 2024 and 2025.
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 |
|---|---|---|---|---|
| Ngk-Locke, Inc. Section 125 Plan#501 · filed under DFVCP · insurance, general assets | December 31, 2025 | August 4, 2026 | 4 days after deadline, no extension indicated | 140 |
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 Ngk-Locke, Inc. Section 125 Plan pay in health insurance broker commissions in 2025?
Ngk-Locke, Inc. Section 125 Plan's 2025 Form 5500 reports $597,837 in broker commissions and fees across 6 insurance contracts ($597,837 in commissions, $0 in fees), with Carefirst Administrators receiving the largest share.
Is Ngk-Locke, Inc. Section 125 Plan's health plan self-funded or fully insured?
The 2025 filing indicates the plan is a mix of insured and self-funded coverage. Medical coverage is written by Carefirst Administrators.
How does Ngk-Locke, Inc. Section 125 Plan's broker compensation compare with similar employers?
A commission-to-premium ratio cannot be computed for Ngk-Locke, Inc. Section 125 Plan because the filing does not report medical premium on Schedule A (usual for self-funded plans). In dollars, employers with 100-199 participants that disclosed broker pay reported a median of $53,852.
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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.