Spencer Savings Bankbenefits

Spencer Savings Bank's benefits plans covered 197 active participants in 2025, providing health · life · dental · vision · short-term disability · long-term disability · death benefits. Insurance premiums totaled $216,494. Insurance brokers and agents were paid $218,615 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 101.0% of premiums. That is $1,110 per covered person, in the top 10% of employer plans that report broker pay. Broker pay rose 6.9% from $204,458 in 2024.