IRON OUT INC

13780 OAK FOREST BLVD S
SEMINOLE, FL 33776

Talking Points

Market Competitiveness

We measure relative change (when a business chooses a different WC provider), and market share distribution over a rolling 24 months as compared to it's industry and state level activity to determine how competitive carriers are for your class of business.

  • 10% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 75th percentile at 2.6% of the market.
Good

Business Stats

Policy History

Term Carrier
2023

2023

2022

2021

2020
06-01-2020

2019

2018

2018
06-01-2017

2017

2016

2015

2014

2013
06-01-2013

2012
06-01-2012

2011
06-01-2011

2010
10-01-2010

2009
10-01-2009

Contacts

9
(193) 204-3688
f76

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 10,470,677 $ 624,056 $ 7,450,332 $ 2,280,763 $ 8,052,072 $ 3,094,078 $ 966,225 $ 3,872,220 $ 5,857,483 $ 3,204,991 $ 3,269,689 $ 6,080,341
Liabilities: $ 0 $ 4 $ 2 $ 0 $ 23 $ 16 $ 9 $ 4 $ 684 $ 519
EE Contrib: $ 515,735 $ 242,888 $ 603,665 $ 769,345 $ 1,446 $ 882,319 $ 890,309 $ 824,816 $ 640,069 $ 786,989 $ 736,128 $ 951,697
Emp Contrib: $ 191,246 $ 336,350 $ 496,214 $ 40,655 $ 736,378 $ 221,791 $ 668,387 $ 654,698 $ 988,700 $ 554,879 $ 536,622 $ 227,712
Income/Loss: $ 1,424,709 $ 9,782,251 $ 3,357,483($ 85,774) $ 5,834,672 $ 891,954($ 8,852) $ 6,114 $ 164,085 $ 879,678($ 320,917) $ 220,311
Total Income: $ 2,131,690 $ 6,961,646 $ 5,729,219 $ 90,221 $ 3,600,040 $ 20,711 $ 550,337 $ 275,862 $ 4,763,068 $ 7,720,664 $ 26,087 $ 503,065
Paid Benefits: $ 1,018,114 $ 543,736 $ 519,295 $ 843,684 $ 707,774 $ 774,910 $ 147,960 $ 281,058 $ 475,513 $ 25,635 $ 6,065 $ 1,506
Expenses: $ 0 $ 1 $ 0 $ 70 $ 4 $ 97 $ 14
  Commission: $ 21,280 $ 46,635 $ 70,833 $ 56,134 $ 81,273 $ 35,980 $ 76,858 $ 59,319 $ 80,008 $ 3,684 $ 1,406 $ 2,337
Net Income: $ 1,092,296 $ 1,190,678 $ 3,066,313($ 726,763) $ 8,595,774 $ 842,183 $ 41,270 $ 474,473 $ 1,016,065 $ 713,742 $ 46,647 $ 637,095
Net Assets: $ 11,562,973 $ 6,282,864 $ 4,061,628 $ 6,221,487 $ 2,982,573 $ 7,619,594 $ 3,622,852 $ 2,427,828 $ 214,492 $ 6,975,669 $ 295,272 $ 3,043,759

Participants

202120202019201820172016201520142013201220112010
Total Participants:758874957195122833703672
Active Part.:5080413600223395a971592f341
Retired Part.:095c201bfd4baf6bd12bdc
Deceased Part.:d0 70 7d18d7ec7602d007fa7

Insurance

No Insurance Coverage

Providers

No Providers

Features

    2E - Profit-sharing

    2F - ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.

    2G - Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.

    2J - Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.

    2K - Stock bonusCode section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.

    2T - Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.

    3D - Pre-approved pension plan - A master, prototype, or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.