SP Plus Corporation
Updated Filing received by DOL
SP Plus Corporation, an other services employer in Chicago, Illinois, reported 11,786 participants in its health and welfare plan for plan year 2024. Its Form 5500 shows $42M in insurance premiums across 16 contracts and $1.1M in broker commissions and fees. The plan is fully insured (an insurance carrier pays claims). The Department of Labor received the filing on October 8, 2025, within the extension window.
Who was paid on SP Plus 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 SP Plus Corporation filed for 2024.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Lockton · Chicago, IL | $586,508 | $246,371 | $832,879 | 15 |
| Eoi Service Company Inc · Anaheim, CA | $228,130 | $8,792 | $236,922 | 5 |
| Thomas Schaffler · Chicago, IL | $18,484 | $0 | $18,484 | 2 |
| T2b Solutions Inc. · Indianola, IA | $0 | $3,785 | $3,785 | 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 |
|---|---|---|---|---|
| Bluecross Blueshield of Illinoishealth, stop-loss | 5,719 | $42M | $413,038 | 1.0% |
| Arch Insurance Companyshort-term disability, long-term disability | 1,780 | — | $17,840 | — |
| The Lincoln National Life Insurance Companyshort-term disability | 451 | — | $29,610 | — |
| Reliastar Life Insurance Companycoverage not coded | 3,002 | — | $104,707 | — |
| Pacific Guardian Life Insurance Company, LTD.short-term disability | 71 | — | — | — |
| Blue Cross of California (g0200)health, HMO | 171 | — | $33,618 | — |
| Kaiser Foundation Health Plan Inchealth, HMO | 85 | — | — | — |
| Priority Healthhealth | 24 | — | $10,189 | — |
| Priority Healthhealth | 26 | — | $8,295 | — |
| Eyemed Vision Carevision | 5,909 | — | — | — |
| Cigna Health and Life Insurance Companydental, indemnity | 3,943 | — | — | — |
| Kaiser Foundation Health Plan of Hawaiihealth, HMO | 79 | — | — | — |
| Kaiser Foundation Health Plan of Coloradohealth, HMO | 62 | — | — | — |
| The Lincoln National Life Insurance Companyshort-term disability | 3,523 | — | $81,837 | — |
| The Lincoln National Life Insurance Companylife | 9,903 | — | $295,436 | — |
| The Lincoln National Life Insurance Companylong-term disability | 3,517 | — | $97,500 | — |
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 SP Plus 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.
Premium per covered person on medical contracts: $7,422 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 | 11,003 | 11,786 | +7.1% |
| Premiums filed | $41,206,344 | $42,446,845 | not comparable |
| Broker commissions + fees | $972,965 | $1,092,070 | +12.2% |
| 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 |
|---|---|---|---|---|
| Standard Parking Corporation Welfare Benefit Plan#502 · insurance | December 31, 2024 | October 8, 2025 | within extension | 11,786 |
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 SP Plus Corporation pay in health insurance broker commissions in 2024?
SP Plus Corporation's 2024 Form 5500 reports $1,092,070 in broker commissions and fees across 16 insurance contracts ($833,122 in commissions, $258,948 in fees), with Lockton receiving the largest share.
Is SP Plus Corporation's health plan self-funded or fully insured?
The 2024 filing indicates the plan is fully insured (an insurance carrier pays claims). Medical coverage is written by Bluecross Blueshield of Illinois, Blue Cross of California (g0200), Kaiser Foundation Health Plan Inc.
How does SP Plus Corporation's broker compensation compare with similar employers?
A commission-to-premium ratio cannot be computed for SP Plus Corporation 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.