Our products include data from a variety of government, private, and proprietary sources.
About Our Plan Data
We obtain our plan data directly from the United States Department of Labor. The Employee Retirement Income Securities Act (ERISA) requires U.S. companies offering qualified benefit plans to their employees to submit to the Department of Labor a Form 5500, which includes a wealth of information about the company and the plans they offer.
The 5500 requires the signature of both the plan sponsor and plan administrator. For larger companies (generally those with 100 or more employees), we obtain our contact information for companies’ HR, Benefits, and Finance personnel directly from the employers themselves.
The Form 5500 includes a large amount of detail about each qualified plan in the United States. Smaller companies may file a less comprehensive Form 5500-SF, while larger companies (generally those with 100 or more employees) must file the complete Form 5500. The data these forms collect includes:
- Company location
- Plan renewal month
- Plan assets
- Brokers, consultants, and administrators
- Auditors Report
- List of mutual funds offered to plan participants
Our products include the most recent plan data released by the Department of Labor. While there are exceptions, the plan sponsors must generally file their 5500s within 7 months of the plan year end. Because it has historically taken the Department of Labor several months to process and release each 5500, we take the added step of verifying and updating our contact data annually. In that way, we can ensure that our customers have access to the freshest data on the market.
We add new data to our products as it becomes available, generally on a quarterly basis.
About Our Broker and Carrier Data
We obtain our broker and carrier data directly from the Schedule A of the Form 5500 plan disclosure documents collected by the Department of Labor. For our Brokers and Carriers Market Share Database and BrokerSight, we employ a series of proprietary algorithms and processes to verify and amend the raw government data to present a clear picture of the U.S. group insurance market, complete with detailed broker contact information.
About Our Third Party Administrator Data
For our Standard Directory of Third Party Administrators we obtain our information directly from the TPAs themselves, through an annual survey. We ask our listed third party administrators to update their information frequently to ensure that the directory is current. We undertake a proactive effort to update as many TPA records every year as we possibly can.
About Our EIN Data
We created our EIN Finder database by scanning thousands of available public records and filings. We are constantly adding new sources of official data to supplement our listings, and our staff works continuously to verify and update existing data. EIN Finder is one of the largest databases of its kind on the Internet.