UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
FOR ANNUAL REPORTS OF EMPLOYEE STOCK
PURCHASE,
SAVINGS AND SIMILAR PLANS PURSUANT TO
SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
(MARK ONE)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
For the fiscal year ended December 31, 2005
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the transition period from ______ to _______
COMMISSION FILE NUMBER 1-8359
NEW JERSEY RESOURCES CORPORATION
EMPLOYEES' RETIREMENT SAVINGS PLAN
(Full title of plan)
NEW JERSEY RESOURCES CORPORATION
(Name of issuer of the securities held pursuant to the plan)
1415 WYCKOFF ROAD
WALL, NEW JERSEY 07719
(address of principal office)
(NEW JERSEY RESOURCES LOGO)
EMPLOYEES' RETIREMENT SAVINGS PLAN
FINANCIAL STATEMENTS AS OF DECEMBER 31, 2005 AND 2004
AND FOR THE YEARS ENDED DECEMBER 31, 2005 AND 2004
SUPPLEMENTAL SCHEDULE AS OF DECEMBER 31, 2005
PREPARED FOR FILING AS PART OF THE ANNUAL
RETURN-REPORT OF AN EMPLOYEE BENEFIT PLAN
(FORM 5500)
(NJR LOGO)
NEW JERSEY RESOURCES
EMPLOYEES' RETIREMENT SAVINGS PLAN
FINANCIAL STATEMENTS AS OF DECEMBER 31, 2005 AND 2004
PREPARED FOR FILING AS PART OF THE ANNUAL
RETURN REPORT OF AN EMPLOYEE BENEFIT PLAN
(FORM 5500)
NJR
ERSP
5500
JAN 1, 2005
TO
DEC 31, 2005
NEW JERSEY RESOURCES CORPORATION EMPLOYEES' RETIREMENT SAVINGS PLAN
TABLE OF CONTENTS
Page
----
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 2
FINANCIAL STATEMENTS:
Statements of Net Assets Available for Benefits as of
December 31, 2005 and 2004 3
Statements of Changes in Net Assets Available for Benefits for the
Years Ended December 31, 2005 and 2004 4
Notes to Financial Statements as of and for the Years Ended
December 31, 2005 and 2004 5-11
SUPPLEMENTAL SCHEDULE:
Form 5500, Schedule H, Part IV, Line 4i - Schedule of Assets
(Held at End of Year) as of December 31, 2005 12
SIGNATURES 13
EXHIBIT INDEX:
Consent of Independent Registered Public Accounting Firm 14
All other schedules required by Section 2520.103-10 of the Department of Labor's
Rules and Regulations for Reporting and Disclosure under the Employee Retirement
Income Security Act of 1974 have been omitted because they are not applicable.
1
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Trustee and Participants of
New Jersey Resources Corporation
Employees' Retirement Savings Plan
Wall, New Jersey
We have audited the accompanying statements of net assets available for benefits
of New Jersey Resources Corporation Employees' Retirement Savings Plan (the
"Plan") as of December 31, 2005 and 2004, and the related statements of changes
in net assets available for benefits for the years then ended. These financial
statements are the responsibility of the Plan's management. Our responsibility
is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. The Plan is not required to have,
nor were we engaged to perform, an audit of its internal control over financial
reporting. Our audits included consideration of internal control over financial
reporting as a basis for designing audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Plan's internal control over financial reporting.
Accordingly, we express no such opinion. An audit also includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our
opinion.
In our opinion, such financial statements present fairly, in all material
respects, the net assets available for benefits of the Plan as of December 31,
2005 and 2004, and the changes in net assets available for benefits for the
years then ended in conformity with accounting principles generally accepted in
the United States of America.
Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedule of assets (held
at end of year) as of December 31, 2005 is presented for the purpose of
additional analysis and is not a required part of the basic financial
statements, but is supplementary information required by the Department of
Labor's Rules and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974. This schedule is the responsibility of
the Plan's management. Such schedule has been subjected to the auditing
procedures applied in our audit of the basic 2005 financial statements and, in
our opinion, is fairly stated in all material respects when considered in
relation to the basic financial statements taken as a whole.
/s/ DELOITTE & TOUCHE LLP
-------------------------------------
Parsippany, New Jersey
June 29, 2006
2
NEW JERSEY RESOURCES CORPORATION
EMPLOYEES' RETIREMENT SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 2005 AND 2004
2005 2004
----------- -----------
ASSETS:
Cash $ 45,871 $ 62,524
----------- -----------
Participant directed investments:
Gartmore Morley Stable Value Fund 9,731,089 9,150,284
Wachovia Diversified Bond Group Trust 2,132,138 2,170,412
Fidelity Puritan Fund 4,123,661 4,550,388
MFS Massachusetts Investors Growth Stock Fund 798,126 755,428
Wachovia Enhanced Stock Market Fund 6,824,579 6,997,702
Vanguard Windsor II Fund 5,996,312 5,527,617
T Rowe Price Small Cap Value Fund 2,087,574 1,833,011
Franklin Small Capital Growth Fund II 1,913,845 1,775,920
American Funds Capital World Growth and Income Fund 3,366,221 2,551,821
Templeton Foreign Fund 2,377,624 2,062,008
NJR Common Stock 401(k) Fund 4,702,103 4,215,659
----------- -----------
Total Participant-directed investments 44,053,272 41,590,250
----------- -----------
Nonparticipant-directed investments:
NJR Common Stock ESOP 23,702,326 27,071,409
Gartmore Morley Stable Value Fund 54,938 30,375
----------- -----------
Total Nonparticipant-directed investments 23,757,264 27,101,784
----------- -----------
Participant Loans 1,910,408 1,817,467
----------- -----------
Total investments 69,766,815 70,572,025
----------- -----------
Receivables:
Employer contributions 29,373 32,715
Participant contributions -- 36,622
----------- -----------
Total receivables 29,373 69,337
----------- -----------
Total assets 69,796,188 70,641,362
----------- -----------
LIABILITIES:
Payables for securities purchased 45,871 62,524
----------- -----------
Total liabilities 45,871 62,524
----------- -----------
NET ASSETS AVAILABLE FOR BENEFITS $69,750,317 $70,578,838
=========== ===========
See notes to financial statements.
3
NEW JERSEY RESOURCES CORPORATION
EMPLOYEES' RETIREMENT SAVINGS PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEARS ENDED DECEMBER 31, 2005 AND 2004
2005 2004
----------- -----------
ADDITIONS:
Investment income:
Interest $ 103,077 $ 91,416
Dividends 1,973,778 1,585,661
Net appreciation in fair value of investments 296,090 6,446,271
----------- -----------
Net investment income 2,372,945 8,123,348
----------- -----------
Contributions:
Employer contributions 1,129,493 1,130,533
Employee contributions 3,635,443 3,392,633
Employee rollover contributions 129,705 111,331
----------- -----------
Total contributions 4,894,641 4,634,497
----------- -----------
Total additions 7,267,586 12,757,845
----------- -----------
DEDUCTIONS:
Benefits paid to participants 7,932,037 2,943,666
Administrative expenses 164,070 142,652
----------- -----------
Total deductions 8,096,107 3,086,318
----------- -----------
(DECREASE) INCREASE IN NET ASSETS (828,521) 9,671,527
NET ASSETS AVAILABLE FOR BENEFITS:
BEGINNING OF YEAR 70,578,838 60,907,311
----------- -----------
END OF YEAR $69,750,317 $70,578,838
=========== ===========
See notes to financial statements
4
NEW JERSEY RESOURCES CORPORATION
EMPLOYEES' RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
1. PLAN DESCRIPTION
New Jersey Resources Corporation Employees' Retirement Savings Plan (the
Plan) is administered through a Benefits Administration Committee (the
Committee) appointed by New Jersey Resources Corporation's (the Company or
NJR) Board of Directors and administers the plan in accordance with the
provisions of the Employee Retirement Income Security Act of 1974 (ERISA).
The following description of the Plan is provided for general information
only. Participants should refer to the Plan documents for more complete
information. The Plan is a defined contribution plan.
The Plan has two components as described below:
Savings Component
GENERAL: The Savings component is represented by deferred contributions,
after-tax contributions and employer matching contributions.
All employees of the Company, and its subsidiaries who have completed 30
days of service are eligible to participate on a voluntary basis.
CONTRIBUTIONS: Under the Savings component, eligible employees may make
contributions of between 1% and 30% of base compensation to the Plan and,
of this amount, the calendar year dollar limit in effect for 401(k)
contributions shall be permitted as pre-tax contributions. The 30% maximum
amount became effective August 1, 2002. The Company contributes an amount
equal to 50% of the first 6% of contributing participants' base
compensation, subject to certain exceptions as described in the Plan. The
participants' contributions, plus actual earnings thereon, are fully vested
at all times. The Company's contributions vest on the basis of service
ranging from 25% after two years, 50% after three years, 75% after four
years, and 100% after five years. Any forfeiture is treated as a reduction
to employer contributions.
Effective October 1, 2000, certain employees of NJR Home Services Company
who are not covered by the Plan for Retirement Allowances for Represented
Employees of New Jersey Natural Gas Company and have one or more year(s) of
service receive an annual Company contribution equal to 2% of base
compensation for employees with less than five years of service and a 3%
contribution for employees with five or more years of service. The
contribution is automatically invested in the Gartmore Morley Stable Value
Fund, and cannot be reallocated to other investments nor is it eligible for
employee loans. In 2006, the Company contributed $29,373 related to these
employees for the Plan year ended December 31, 2005 and the amount is
included in employer contributions receivable at December 31, 2005.
Effective January 1, 2002, employees who have both reached the minimum age
of 50 and the 401K elective deferral limit by the end of the Plan year may
elect to contribute an additional $4,000 in pre-tax non-matchable
contributions.
Contributions by employees are made primarily through payroll deductions.
The Plan also accepts qualified roll-over contributions from eligible
employees. As directed by the Committee, contributions by employees and the
Company are transferred to a Trustee and held in the Plan's Trust Fund for
investment and other transactions.
5
PAYMENT OF BENEFITS: Participants, prior to retirement or termination of
service with the Company, may withdraw their contributions from the Savings
component subject to certain limitations as described in the Plan.
Participants may not withdraw the Company's contributions until they are
vested. Withdrawal of deferred contributions may generally be made only
upon disability, hardship or the attainment of age 59-1/2.
Distributions made upon retirement or death may be made either in a lump
sum or in equal installments over a period not to exceed five years. All
other distributions are made in a lump sum payment.
PARTICIPANT LOANS: The Plan may loan to a participant an amount that shall
not exceed the lesser of 50% of the value of the vested portion of such
participant's account, or $50,000. Any participant loan must be for a
principal amount of $1,000 or more and no participant may have more than
two loans outstanding at any time. No loan shall be for a term of more than
five years except for loans used to acquire the participant's principal
residence, which term shall not exceed ten years. The loans are secured by
the balance in the participant's accounts.
Principal and interest are paid ratably through payroll deductions. A
participant may repay any such loan in full by check at any time in
accordance with such rules as may be prescribed by the Committee. Payments
of principal and interest on loans shall be credited to the participant's
account(s) from which the loan was funded and shall be reinvested in
investment funds in accordance with the participant's then current
investment selection.
The interest rate for loans will be the current prime lending rate of
Wachovia Bank N.A. plus 1% or such other rate as is prescribed by the
Committee based on periodic re-evaluations of the adequacy of such rate.
The fixed rate of interest shall apply to the term of each loan.
PARTICIPANT ACCOUNTS--Individual accounts are maintained for each Plan
participant. Each participant's account is credited with the participant's
contribution, Company's matching contribution, and Plan earnings, and
charged with withdrawals and an allocation of Plan losses and
administrative expenses. Allocations are based on participant earnings or
account balances, as defined. The benefit to which a participant is
entitled is the benefit that can be provided from the participant's vested
account.
INVESTMENTS--Participants direct the investment of their contributions into
various investment options offered by the Plan. Except as previously noted,
Company contributions are invested at the same percentage in the same
investment options as the participant directed investments. The Plan
currently offers eleven investment options for participants.
FORFEITED ACCOUNTS--At December 31, 2005 and 2004, forfeited nonvested
accounts totaled $18,855 and $4,494 respectively. These amounts will be
used to reduce employer contributions. During the years ended December 31,
2005 and 2004, employer contributions were reduced by $4,494 and $5,809,
respectively from forfeited, nonvested accounts.
Employee Stock Ownership Plan Component (the ESOP)
GENERAL: Effective October 1, 1994, investment in the ESOP was closed to
future employees. The ESOP component is represented by amounts held by the
Trust in Company Stock. Until September 30, 1994, all employees of the
Company and its subsidiaries who had attained age 21 and completion of one
year of service were eligible to participate. All participants' respective
shares of Company Stock are 100% vested.
6
PAYMENT OF BENEFITS: Distributions to ESOP participants may be made only in
the case of separation of service or attainment of age 55 and completion of
at least 10 years of participation, and may be in the form of full shares
of the Company's common stock and cash in lieu of fractional shares. ESOP
participants may also elect to receive their total distribution in cash.
The following amounts related to the ESOP were included in dividend income
and net appreciation in fair value of investments for the years ended
December 31:
2005 2004
--------- ----------
Dividend income $ 813,845 $ 821,675
Net (depreciation) appreciation
in fair value of investments $(874,588) $3,028,690
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING--The accompanying financial statements have been
prepared in accordance with accounting principles generally accepted in the
United States of America.
USE OF ESTIMATES--The preparation of financial statements in conformity
with accounting principles generally accepted in the United States of
America requires management to make estimates and assumptions that affect
the reported amounts of assets, liabilities, and changes therein and
disclosure of contingent assets and liabilities. Actual results could
differ from those estimates.
RISKS AND UNCERTAINTIES--The Plan utilizes various investment instruments,
including mutual funds and investment contracts. Investment securities, in
general, are exposed to various risks, such as interest rate, credit, and
overall market volatility. Due to the level of risk associated with certain
investment securities, it is reasonably possible that changes in the values
of investment securities will occur in the near term and that such changes
could materially affect the amounts reported in the financial statements.
INVESTMENT VALUATION AND INCOME RECOGNITION--The Plan's investments in
mutual funds and common stock are stated at fair value. Quoted market
prices are used to value investments. Shares of mutual funds are valued at
quoted market prices, which represent the net asset value of shares held by
the Plan at year end. Participant loans are valued at the outstanding loan
balances.
Purchases and sales of securities are recorded on a trade-date basis.
Interest income is recorded on the accrual basis. Dividends are recorded on
the ex-dividend date. Dividends from the ESOP and NJR Common Stock funds
will be automatically reinvested unless the participant elects a
distribution.
Management fees and operating expenses charged to the Plan for investments
in the mutual funds are deducted from income earned on those investment
funds and are not separately stated. Consequently, management fees and
operating expenses are reflected as a reduction of investment return for
such investments.
VALUATION OF INVESTMENTS (SECURITIES WITH NO QUOTED MARKET PRICES)--Amounts
for securities that have no quoted market price represent estimated fair
value. Many factors are considered in arriving at the fair value.
Investments in common collective trusts are valued at the net asset value
of the shares held by the Plan at year end, which is based on the fair
value of the underlying assets. The value recorded in the Plan's financial
statements for such funds were $8,956,717 and $9,168,114 at December 31,
2005 and 2004, respectively.
7
ADMINISTRATIVE EXPENSES--Certain administrative expenses of the Plan are
paid by the Company as provided in the Plan Document.
PAYMENT OF BENEFITS--Benefit payments to participants are recorded upon
distribution. Amounts allocated to accounts of persons who have elected to
withdraw from the plan but have not yet been paid were $1,834 and $0 as of
December 31, 2005 and 2004, respectively.
3. INVESTMENTS
The following investments represent five percent or more of the Plan's net
assets as of December 31, 2005 and 2004:
2005 2004
----------- -----------
*NJR Common Stock ESOP, 1,104,231 and 1,219,933
units, respectively $23,702,326 $27,071,409
NJR Common Stock 401K Fund, 241,481 and 207,956
units, respectively $ 4,702,103 $ 4,215,659
**Gartmore Morley Stable Value Fund, 505,853
and 491,443 shares, respectively $ 9,786,027 $ 9,180,659
Wachovia Enhanced Stock Market Fund, 80,378
and 87,371 shares, respectively $ 6,824,579 $ 6,997,702
Vanguard Windsor II Fund, 191,392 and 179,877
shares, respectively $ 5,996,312 $ 5,527,617
Fidelity Puritan Fund, 220,163 and 240,126
shares, respectively $ 4,123,661 $ 4,550,388
* Non participant directed
** A portion of this investment is non-participant directed. See Note 4 for
more information.
During the years ended December 31, 2005 and 2004, the Plan's investments
(including gains and losses on investments bought and sold, as well as held
during the year) appreciated (depreciated) in value as follows:
2005 2004
--------- ----------
Common Trust Funds $ 469,257 $ 816,325
Common Stock Funds (966,814) 3,502,726
Fidelity Puritan Fund (52,184) 115,768
Franklin Small Cap Growth Fund II 60,641 137,583
MFS Massachusetts Investors Growth Stock Fund 27,862 62,683
Templeton Foreign Fund 61,088 268,744
T Rowe Price Small Cap Value Fund 59,589 248,668
American Funds Capital World Growth
and Income Fund 213,871 279,306
Vanguard Windsor II Fund 120,097 746,987
Gartmore Morley Stable Value Fund 302,683 254,878
Aim Dynamics/Investor -- 12,603
--------- ----------
Net Appreciation $ 296,090 $6,446,271
========= ==========
4. NONPARTICIPANT-DIRECTED INVESTMENTS
8
Information about the net assets and the significant components of the
changes in net assets relating to the nonparticipant-directed investments
as of December 31, 2005 and 2004, and for the years ended December 31, 2005
and 2004 is as follows:
2005 2004
----------- -----------
Net assets:
NJR Common Stock ESOP $23,702,326 $27,071,409
Gartmore Morley Stable Value Fund 54,938 30,375
----------- -----------
Total non participant directed investments $23,757,264 $27,101,784
=========== ===========
Changes in net assets:
NJR Common Stock ESOP
Net appreciation in fair value of investments $ 50,685 $ 3,847,208
Benefits paid to participants (3,243,108) (1,506,916)
Transfers to participant-directed investments (176,660) (52,213)
----------- -----------
Net change (3,369,083) 2,288,079
NJR Common Stock ESOP - beginning of year 27,071,409 24,783,330
----------- -----------
NJR Common Stock ESOP - end of year $23,702,326 $27,071,409
=========== ===========
Gartmore Morley Stable Value Fund
Net appreciation in fair value of investments $ 1,770 $ 905
Administrative expenses (10) --
Employer contributions 22,803 16,168
----------- -----------
Net change 24,563 17,073
Gartmore Morely Stable Value Fund - beginning of year 30,375 13,302
----------- -----------
Gartmore Morely Stable Value Fund - end of year $ 54,938 $ 30,375
=========== ===========
5. FEDERAL INCOME TAX STATUS
The Internal Revenue Service has determined and informed the Company by
letter dated July 17, 2003, that the Plan and related trust were designed
in accordance with the applicable sections of the Internal Revenue Code
(the Code). The Plan has been amended since receiving the determination
letter. However, the Plan Administrator and the Plan's tax counsel believe
that the Plan is designed and is currently being operated in compliance
with the applicable requirements of the Code, and that the Plan and the
related trust continue to be tax-exempt. Therefore, no provision for income
taxes has been included in the Plan's financial statements.
6. PLAN TERMINATION
Although it has not expressed any intention to do so, the Company has the
right under the Plan to discontinue its contributions at any time and to
terminate the Plan subject to the provisions set forth in ERISA. In the
event that the Plan is terminated, participants would become 100% vested in
their accounts.
9
7. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
The financial statements have been prepared on the accrual basis in
conformity with generally accepted accounting principles in the United
States of America. The Form 5500 is presented on the cash basis.
The following is a reconciliation of net assets available for benefits per
the financial statements to the Form 5500:
DECEMBER 31,
-------------------------
2005 2004
----------- -----------
Net assets available for benefits per the financial statements $69,750,317 $70,578,838
Less: Amounts due from participants per the financial -- (36,622)
statements
Less: Amounts due from employer per the financial (29,373) (32,715)
statements
----------- -----------
Net assets available for benefits per the Form 5500 $69,720,944 $70,509,501
----------- -----------
DECEMBER 31,
-----------------------
2005 2004
---------- ----------
Contributions received from participants per the financial $3,635,443 $3,392,633
Statements
Less: Contributions receivable from participants per the -- (36,622)
financial statements
Add: Contributions receivable from participants per the 36,622 33,633
financial statements
---------- ----------
Contributions received from participants per the 5500 $3,672,065 $3,389,644
---------- ----------
DECEMBER 31,
-----------------------
2005 2004
---------- ----------
Contributions received from employer per the financial $1,129,493 $1,130,533
Statements
Less: Contributions receivable from employer per the (29,373) (32,715)
financial statements
Add: Contributions receivable from employer per the 32,715 24,935
financial statements
---------- ----------
Contributions received from employer per the 5500 $1,132,835 $1,122,753
---------- ----------
8. EXEMPT PARTY-IN-INTEREST TRANSACTIONS
Certain Plan investments are shares of mutual funds managed by Wachovia
Bank N.A. (Wachovia). Wachovia is the Plan Trustee and certain plan assets
are invested in the Wachovia Common Trust Funds, therefore, these
transactions qualify as exempt party-in-interest transactions. Fees paid by
the Plan to the Trustee amounted to $164,070 and $142,652 for the years
ended December 31, 2005 and 2004, respectively.
10
At December 31, 2005 and 2004, the Plan held 1,345,712 units and 1,427,889
units, respectively, of common stock of New Jersey Resources Corporation,
the sponsoring employer, with a cost basis of $16,730,101 and $16,594,228,
respectively. During the years ended December 31, 2005 and 2004, the Plan
recorded dividend income of $951,892 and $951,445, respectively.
Certain employees and officers of the Company, who may also be participants
in the Plan, perform administrative services to the Plan at no cost to the
Plan. These party-in-interest transactions are not deemed prohibited
because they are covered by statutory or administrative exemptions from the
Code and ERISA's rules on prohibited transactions.
11
NEW JERSEY RESOURCES CORPORATION EMPLOYEES' RETIREMENT SAVINGS PLAN
FORM 5500, SCHEDULE H, PART IV, LINE 4I---
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AS OF DECEMBER 31, 2005
(C)
(B) DESCRIPTION OF INVESTMENT, INCLUDING (E)
IDENTITY OF ISSUE, BORROWER MATURITY DATE, RATE OF INTEREST, (D) CURRENT
(A) LESSOR, OR SIMILAR PARTY COLLATERAL, AND PAR OR MATURITY VALUE COST VALUE
--- --------------------------- ------------------------------------- ----------- -----------
* Wachovia Bank, N.A. Diversified Bond Group Trust Common Trust Funds $ ** $ 2,132,138
* Wachovia Bank, N.A. Enhanced Stock Market Fund Common Trust Funds ** 6,824,579
* NJR Common Stock 401(K) Fund Common Stock ** 4,702,103
Fidelity Puritan Fund Registered Investment Company ** 4,123,661
Franklin Small Cap Growth Fund II Registered Investment Company ** 1,913,845
MFS Massachusetts Investors Growth Stock Fund Registered Investment Company ** 798,126
T Rowe Price Small Cap Value Fund Registered Investment Company ** 2,087,574
Vanguard Windsor II Fund Registered Investment Company ** 5,996,312
American Funds Capital World Growth and Income Fund Registered Investment Company ** 3,366,221
Templeton Foreign Fund Registered Investment Company ** 2,377,624
Gartmore Morely Stable Value Fund Registered Investment Company ** 9,731,089
* Various participants Participant loans (maturing 2006-2015
at interest rates of 5%-10.5%) ** 1,910,408
* NJR Common Stock ESOP Common Stock 11,821,189 23,702,326
Gartmore Morely Stable Value Fund Registered Investment Company 54,938 54,938
----------- -----------
$11,876,127 $69,720,944
----------- -----------
* Party-in-interest
** Cost information is not required for participant-directed investment and,
therefore, is not included
12
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
trustees (or other persons who administer the employee benefit plan) have duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.
New Jersey Resources Service Corporation
Employees' Retirement Savings Plan
Date: June 29, 2006 By: /s/ Deborah G. Zilai
------------------------------------
Deborah G. Zilai
Plan Administrator
/s/ Glenn C. Lockwood
----------------------------------------
Glenn C. Lockwood
Plan Sponsor
13
EXHIBIT INDEX
EXHIBIT NUMBER
--------------
99 Consent of Independent Registered Public Accounting Firm
14