Form 5500 · Employee benefit plan · REDWOOD FALLS, MN
REDWOOD FINANCIAL, INC DBA HOMETOWN BANK
REDWOOD FINANCIAL, INC DBA HOMETOWN BANK of REDWOOD FALLS, MN files a Form 5500 with the U.S. Department of Labor disclosing its employee benefit plan. Its broker of record is 20/20 ADVISOR GROUP LLC. Coverage is written through BLUE CROSS AND BLUE SHIELD OF MINNESOTA and 1 other carrier. The plan's most recent policy period ended in December.
Sourced from U.S. DOL EFAST2 Form 5500 · EIN 41-0498480 · plan 501 · as of Aug 2026
Plan brief
Schedule A lists 4 insured contracts covering health, dental, life and disability; the largest, with BLUE CROSS AND BLUE SHIELD OF MINNESOTA, covers 205 people.
Reported premium across the insured contracts is $1,645,331, with $59,478 in disclosed broker commissions — about 3.6% of premium.
The most recent policy period ended in December, and the plan year ends December 31. Group contracts typically renew on that annual cycle.
20/20 ADVISOR GROUP LLC is the broker of record on all 4 contracts.
Two carriers split the book: BLUE CROSS AND BLUE SHIELD OF MINNESOTA and SUN LIFE ASSURANCE COMPANY OF CANADA.
Schedule A insurance contracts
| Carrier | Benefits | Covered | Renews | Premium | Commission |
|---|---|---|---|---|---|
| BLUE CROSS AND BLUE SHIELD OF MINNESOTA | Health | 205 | December | $1,557,491 | $51,765 |
| BLUE CROSS AND BLUE SHIELD OF MINNESOTA | Dental | 136 | December | $43,009 | $4,301 |
| SUN LIFE ASSURANCE COMPANY OF CANADA | Life | 97 | December | $44,146 | $3,308 |
| SUN LIFE ASSURANCE COMPANY OF CANADA | Disability | 4 | December | $685 | $104 |
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