Board of Trustees, Iron Workers Trust Fund Local No. 5benefits

Board of Trustees, Iron Workers Trust Fund Local No. 5's benefits plans covered 900 active participants in 2024, providing health · life · dental · short-term disability. Insurance premiums totaled $41,062. Insurance brokers and agents were paid $3,285 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 8.0% of premiums. That is $4 per covered person, in the bottom quarter of employer plans that report broker pay. Broker pay rose 4.1% from $3,156 in 2023.