Form 5500 · Employee benefit plan · JERICHO, NY
WEBSTER BANK
The filing calls this plan STERLING BANCORP BANK OWNED LIFE INSURANCE.
Public Form 5500 records show how WEBSTER BANK of JERICHO, NY, a finance and insurance employer, structures its employee benefits. Its broker of record is DOUGLAS DREYER. Coverage is written through SECURITY LIFE OF DENVER and 1 other carrier. The plan's most recent policy period ended in October.
Sourced from U.S. DOL EFAST2 Form 5500 · EIN 06-0273620 · plan 503 · plan year 2023, filed Oct 7, 2024
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How this plan is funded
Funding not settled by the filing
The filing does not report enough to settle how this plan pays for benefits.
Benefits declared on this filing
Declared benefits are the plan’s own line 8b codes on Form 5500. “Not on Schedule A” means no insured contract for that line appears on this filing. That usually means the benefit is self-funded, or it sits under a different plan number.
Where a line has more than one insured contract, the carrier and the covered figure are the largest contract's by premium. The contracts are not added up: a pharmacy carve-out and the medical carrier beside it cover the same people.
Persons covered is the count the carrier filed for that policy at the end of its policy year, and it can include dependents. Participants is the plan's own count at the start of its plan year. The two count different people, so a covered figure can be larger.
Plan brief
All 2 insured contracts are life coverage, split across SECURITY LIFE OF DENVER and DELAWARE LIFE.
The filing discloses $15,384 in broker commissions; premium is not reported on these contracts.
The most recent policy period ended in October, and the plan year ends December 31. Group contracts typically renew on that annual cycle.
DOUGLAS DREYER is the broker of record on 1 of the 2 contracts; the rest name a different broker or none.
Two carriers split the book: SECURITY LIFE OF DENVER and DELAWARE LIFE.
Schedule A insurance contracts
| Carrier | Benefits | Covered | Renews | Premium | Commission |
|---|---|---|---|---|---|
| SECURITY LIFE OF DENVER | Life, Annuity / GIC | 41 | — | $3,512,408 | $12,004 |
| DELAWARE LIFE | Life, Annuity / GIC | 13 | Oct 2, 2023 | $3,388,710 | $3,380 |
Covered = persons covered at policy year end, as filed on Schedule A for that policy — often certificates or one class, not the whole plan. Premium = the filing’s own premium/charges figure; “—” means not credibly reported.
Administrator and service providers
The plan administrator is from line 3a of the main form. We publish company names only.
Other plans filed by this employer
How this plan compares
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