Timepayment Corpbenefits
Timepayment Corp. Wrap Benefit Plan · WOBURN, MA · plan year 2024
Previously filed as Timepayment Corp. Same employer identification number; renames and acquisitions are why old benefits and 401(k) accounts get lost.
Timepayment Corp's benefits plans covered 95 active participants in 2024, providing health · life · dental · vision · short-term disability · long-term disability · other. Insurance premiums totaled $62,842. Insurance brokers and agents were paid $93,148 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 148.2% of premiums. That is $981 per covered person, in the top 10% of employer plans that report broker pay. Broker pay fell 8.7% from $102,068 in 2023.
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Source: DOL Form 5500 Schedule A, plan year 2024, EIN 200687813 · Verify on EFAST2 · Amounts are as reported by the plan sponsor.