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Reported Broker Office: This is the location that employers list on the Form 5500. However, this data can be misleading. Large brokers often use lockboxes to collect commission checks. When filling out Form 5500, employers often list the lockbox location rather than the office actually serving them. For instance, if you rely solely on Form 5500 data, you’d think that 2,000 of Mercer’s 2,700 clients are in Chicago, IL, where their lockbox is, despite many likely being served by local offices. Closest Broker Office: This method is based on a proprietary approach. BenefitFlow first maps out the universe of broker office locations based on various sources, such as the Form 5500, LinkedIn, and company websites. Employers are then connected to the closest office location, measured by geographic distance from their headquarters. This is the default option on the BenefitFlow platform and is generally much more reliable than ‘Reported Broker Office.’ Caveat: The “Closest Broker Office” approach may not always be accurate. For example, if an employer is actually served by an office located far away, the system’s reliance on geographic proximity could be misleading. Toggling between the two methodologies in BenefitFlow
Toggling between the two methodologies in BenefitFlow
Last modified on February 12, 2026