Free ERISA data refers to websites or services that provide access to Form 5500 filings and other ERISA compliance documents for free...
Free ERISA data refers to websites or services that provide access to Form 5500 filings and other ERISA (Employee Retirement Income Security Act) compliance documents for free. ERISA mandates that certain employee benefit plans, such as pension plans and health insurance plans, file annual reports with the Department of Labor.
These filings contain important information about the financial condition and operation of the plans. Websites like Free ERISA allow users to search, view, and download filings without charge, which can be useful for employers, employees, researchers, and others interested in understanding or analyzing employee benefit plans. However there are some pros and cons to keep in mind.
Free ERISA data typically comes from publicly available Form 5500 filings and other government sources. These sources provide basic information about employer-sponsored benefit plans, including plan structure, participation levels, and some financial data.
While accessible and cost-effective, free ERISA data sources often lack the depth, accuracy, and analytical capabilities needed for sophisticated market analysis and competitive intelligence.
Free ERISA data offers several benefits for basic market research:
Despite the advantages, free ERISA data has significant limitations:
If your organization is seeking timely and actionable data to fuel your prospect pipeline, you may consider a paid platform to digest Form 5500 data. The Benefeature platform is updated monthly with new data, and is supported by proprietary cleansing and matching processes to give the most accurate view possible into plan details and relationships. The platform offers proprietary data modeling not available anywhere else to show per product premiums, premium competitiveness, and more.