ESOP · DOL Form 5500 · 2024

Somerset Tire Service, Inc. ESOP

Data updated 2026-08-25

$51K
Total assets Small plan by assets
N/A
Participants Small participant base
4th
Percentile by assets National rank
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Official DOL plan name: Somerset Tire Service Employee Stock Ownership Plan · Sponsored by Somerset Tire Service, Inc. · New Jersey · Other Services

$51K in assets, N/A participants

Somerset Tire Service, Inc.'s Somerset Tire Service Employee Stock Ownership Plan reported $51K in total assets and N/A participants in its 2024 DOL Form 5500 filing, ranking in the 4th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #575 in Other Services (7,719 peers)

Somerset Tire Service, Inc. multi-year trail

Somerset Tire Service, Inc.'s plans moved +50.7% in assets from 2022 to 2024; this filing shows Somerset Tire Service Employee Stock Ownership Plan at $51K / N/A participants.

#575
in Other Services (7,719 peers)
-83.2%
assets change YoY

The plan reported a net loss of $254K for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Somerset Tire Service Employee Stock Ownership Plan among the smaller filed plans by assets

Somerset Tire Service Employee Stock Ownership Plan vs every filed plan by assets

End-of-year total assets · plan year 2024 · DOL Form 5500

$51,370 4th percentile higher than 4% of 123,620 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2024

Filed plans by participant headcount

Plan-year 2024 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets.

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Somerset Tire Service Employee Stock Ownership Plan reported net income fell from $271K in the plan year 2023 filing to -$254K in the plan year 2024 filing.
  • Somerset Tire Service Employee Stock Ownership Plan end-of-year assets fell from $306K in the plan year 2023 filing to $51K in the plan year 2024 filing.

See the national 2023→2024 release diff →

Plan-year Form 5500 strip

Filing strip 221617798 · Somerset Tire Service, Inc. PY 2024 · ESOP

Somerset Tire Service Employee Stock Ownership Plan · $51K · N/A · 4th

  • PCT $51K
  • EIN N/A
  • RANK 4th
  • PHOTO ESOP
  • IND near Lab-Aids, Inc. Employee Stock Ownership Plan
  • EOY ind #575

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with What is an ESOP? → · Plans in New Jersey →

Somerset Tire Service Employee Stock Ownership Plan in the asset neighbourhood

Somerset Tire Service Employee Stock Ownership PlanSomerset Tire Service Employ…$51KLab-Aids, Inc. Employee Stock Ownership PlanLab-Aids, Inc. Employee Stoc…$51KStephens Manufacturing Employee Stock Ownership PlanStephens Manufacturing Emplo…$52KBhs Employee Stock Ownership PlanBhs Employee Stock Ownership…$51KE.W. James & Sons, Inc. Employee Profit Sharing & Stock Ownership PlanE.W. James & Sons, Inc. Empl…$52K
End-of-year total assets ($M) among Somerset Tire Service Employee Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2024.

Somerset Tire Service, Inc. multi-year asset trail

Sponsor-wide plan assets over time

All Somerset Tire Service, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$51K 50.66283435007038% vs 2022
2024 filing year
$0M$0.1M$0.2M$0.3M$0.4M 202220232024 $0.03M $0.05M ▲ +66.7%
Year Plans Participants Total Assets
2022 1 607 $34K
2023 1 N/A $306K
2024 1 N/A $51K

Somerset Tire Service, Inc. filing trail (2024)

Total Assets (Beginning of Year)$306K
Net Assets (End of Year)$51K
Net Income-$254K
Employer EIN221617798
Plan Effective Date1984-01-01
Filing StatusFILING RECEIVED

Nearby ESOP Plans in New Jersey

Peer ESOP plans, same state, same plan type, ranked by total assets.

Somerset Tire Service Employee Stock Ownership Plan vs. nearby ESOP plans in New Jersey, assets vs. participants Scatter plot of 6 data points. -5000500100015002000 -1000100200300400500 Total assets ($M) Participants Somerset Tire Service Employee Stock Ownership Plan, Total assets ($M): 0.05137 · Participants: 0Somerset Tire Service Employee Stock Ownership PlanOkonite Company Employees Stock Ownership Plan, Total assets ($M): 446.25 · Participants: 1176Okonite Company Employees Stock Ownership PlanConair LLC Savings and Investment Plan, Total assets ($M): 302.820247 · Participants: 1275Conair LLC Savings and Investment PlanMathematica Group Holding Inc. Employee Stock Ownership Plan, Total assets ($M): 280.534757 · Participants: 1740Mathematica Group Holding Inc. Employee Stock Ownership PlanAmboy Bancorporation Employee Stock Ownership Plan, Total assets ($M): 105.2481 · Participants: 199Amboy Bancorporation Employee Stock Ownership PlanRailroad Construction Company, Inc. Employee Stock Ownership Plan, Total assets ($M): 87.816327 · Participants: 144Railroad Construction Company, Inc. Employee Stock Ownership Plan
Somerset Tire Service Employee Stock Ownership Plan vs. nearby ESOP plans in New Jersey, assets vs. participants
Compare Somerset Tire Service Employee Stock Ownership Plan side-by-side with 3 peers →

Somerset Tire Service Employee Stock Ownership Plan's closest out-of-state ESOP peers by assets

Outside New Jersey, the nearest ESOP by end-of-year assets is Lab-Aids, Inc. Employee Stock Ownership Plan in NY at $51K (this filing: $51K).

DOL Form 5500 plan year 2024. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Somerset Tire Service Employee Stock Ownership Plan assets move in 2024? ▼
Somerset Tire Service Employee Stock Ownership Plan contracted severely - down 83.2% during 2024, from $306K to $51K. Reported net income was -$254K.
How have Somerset Tire Service, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Somerset Tire Service, Inc.'s sponsor-wide assets grew 50.7%, from $34K to $51K.
Where does Somerset Tire Service Employee Stock Ownership Plan rank by assets among Form 5500 filers? ▼
Somerset Tire Service Employee Stock Ownership Plan ranks in the 4th percentile by end-of-year assets among 123,622 plans that reported assets for plan year 2024 (among the smaller plans by assets on file).
Which ESOP plans are similar in size to Somerset Tire Service Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by assets is Lab-Aids, Inc. Employee Stock Ownership Plan in NY ($51K, 16 participants).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 221617798.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.