Joseph E. Irenas – 2005
Number of Pages:7
Date Created:December 5, 2006
Date Uploaded to the Library:November 03, 2014
Autogenerated text from PDF
AO-JO(WP) Government Act 1978, Rev. 1/2006 US.C. app. 101-111) FOR CALENDAR YEAR 2005 Person Reporting (Last name, first, middle initial) Irenas, Joseph Title (Article IIIjudges indicate active senior status; magistratejudges indicate full-or part-time) U.S. District Judge -Senior Chambers Office Address P.O. Box 2097 Camden, 08101 Court Organization United States District Court Sa. Report Type (check appropriate type) -Nomination, Date -Initial Annual -Final Sb. Amended Report Date Report 05/10/2006 Reporting Period 0110112005 12/31/2005 the basis the information contained this Report and any modifications pertaining thereto, is, opinion, compliance with applicable laws and regulations. Reviewing Officer Date IMPORTANT NOTES: Tlie instructions accompanying this form must followed. Complete all parts, checking the NONE box for each part where you have reportable information. Sign last page. POSITIONS. (Reporting individual only; see pp. 9-13 Instructions.} POSITION NAME ORGANIZATION/ENTITY NONE (No reportable positions.) =- .::J II. AGREEMENTS. (Reporting individual only; see pp. 14-16 Instructions.) DATE PARTIES AND TERMS _ NONE (No reportable agreements.) 1:_... ,;J III. NON-INVESTMENT INCOME. (Reporting individual and spouse; see pp. 17-24 Instructions.) SOURCE AND TYPE INCOME Filers Non-Investment Income NONE (No reportable non-investment income.) Spouses Non-Investment Income -If you were married during any portion the reporting year, please complete this section. (dollar amount not required except for honoraria) NONE (No reportable non-investment income.) IV. REIMBURSEMENTS transportation, lodging, food, entertainment. (Includes those spouse and dependent children. See pp. 25-27 Instructions.) SOURCE DESCRIPTION NONE (No such reportable reimbursements.) GIFTS. (Includes those spouse and dependent children. See pp. 28-31 Instructions.) SOURCE DESCRIPTION NONE (No such reportable gifts.) VI. LIABILITIES. (Includes those spouse and dependent children See pp. 32-33 Instructions.) CREDITOR DESCRIPTION VALUE CODE* VII. Page INVESTMENTS and TRUSTS --income, value, transactions (Includes those spouse and dependent children. See pp. 34-60 Instructions.) VII. Page INVESTMENTS and TRUSTS income, value, transactions (Includes those spouse and dependent children. See pp. 34-60 Instructions.) Codes: A=$1,000 less (Siepol. D4) F=$50,001-$l00,000 ,QOO,QOO ;000,001-$5,000,000 Val(: Co(is: J=$15;000 odtiss. K=t15,Q0f$50,000 L=$50,001$100,000 (See Col. Ct, D3) 500;001-$1,000,000 =$1,000,001-$5,000 ,000 ,000,001-$25 ,000 ,000 P4=More than $50,000,000 Value Method Codes: R=Cost (teal estate only) T=Cash/Market(See Col. C2) value V=Other VII. Page INVESTMENTS and TRUSTS --income, value, transactions (Includes those spouse and dependent children. See pp. 34-60 Instructions.) Name Person Reporting Date Report VIII. ADDITIONAL INFORMATION EXPLANATIONS (Indicate part Report.) (Item 24) McCarter English maintained KEOGH Retirement Plan for all partners the firm. When withdrew from the firm, interest the plan was segregated into separate account that managed sole discretion distinctly apart from the firms general retirement plan. Effective January 1996, all participants the plan were required invest their accounts one ten mutual funds offered Fidelity Investments, Boston, Massachusetts. Each fund participant was permitted switch back and forth between any these funds, but could not otherwise choose other investments. with all mutual funds, actual investments are controlled fund managers. Effective May 2002, withdrew from the Mccarter English plan and rolled over entire account into individual IRA where was permitted choose investments other than Fidelity funds. However, made change the particular Fidelity funds which have been invested although in2004 did transfer Money Market funds into two specific investments selected (Nos. and 31), the latter which was redeemed 2005. Part VII, have listed values for the IRA whole and below that have listed the specific funds assets which invested. doing that pursuant the instructions given correspondence from the Committee dated August 2002. (Continued next page ... IX. CERTIFICATION. VIII. ADDITIONAL INFORMATION EXPLANATIONS (lndicatepartofReport.) ... continued) Item No. represents the value for the entire IRA. Items 25-31 represent component parts the IRA. gather not required complete Columns and for the individual component parts. However, have provided individual information for Nos. and 31, even though these amounts are also included the entire IRA total No. 24. (Item 22) For many years, listed liability old investment real estate limited partnership investment known Minneapolis Associates, Ltd. account had substantial negative basis and had been advised accountant that there was risk tax recapture liability. the year 2001, received offer purchase interest Minneapolis Associates, notwithstanding its substantial negative basis. also received past years two cash distributions. Thus, have removed Minneapolis Associates liability and listed asset with the appropriate value code. have also reported the income shown K-1, although there was actual cash distribution. (Item 16) Erroneously reported previous reports Point Pleasant School District. (Item 34) Before became Judge, had created life insurance trust which transferred four policies, three issued Mass Mutual and one Northwestern Mutual. Depending circumstances, will beneficiaries the trust when die. The Trustee individual attorney. have been paying the premiums the Trustee, but since beneficial owners the trust, these payments the Trustee for premiums are treated gifts the beneficial owners. All four policies are whole life policies which have cash values. The value code Column reflects all dividends received the Trustee whether not paid out cash used reduce premiums. The value code Column C(l reflects the combined cash value the four policies the trust. Dividends not used reduce premiums are paid the Trustee toas beneficial owner the trust. prior years, policy loans were made some policies pay portion the premiums. Dividends have also been used pay interest policy loans.