New Jersey Senator Frank Lautenberg will anounce his plans to run for a fifth term in the Senate at a rally in Trenton this afternoon, the Newark Star-Ledger reports this afternoon. Lautenberg, who initially retired from the Senate after 2000, was drafted back into service to replace Democrat Bob Torricelli on the ballot in 2002.

At 84 years old, Lautenberg will face questions about his age as he faces a challenge from at least one Democrat, and possibly more, before meeting a Republican in November. So far, at least one Democrat, Morristown Mayor Donald Cresitello, is challenging the incumbent, while former state party chairman Tom Byrne is also said to be considering a bid.

Republicans are having problems of their own coming up with a candidate. State Senator Joe Pennacchio and college professor Murray Sabrin are already in the race, but the state GOP has scrambled to come up with another, more formidable candidate. Having settled on northern New Jersey businessman Andrew Unanue, the party thought they might have a winner. That came before Unanue was forced to announce his bid from Vail, Colorado and committed several more gaffes.

Though Lautenberg has never won a statewide race by a wide margin, he will be aided running in a presidential year, when New Jersey is expected to be safely in the Democratic column, and his $2 million bank account is not something any Republican can scoff at when considering a bid that would require advertising in a state covered by two of the most expensive media markets in the country.

At his announcement today, Lautenberg will be joined by Governor Jon Corzine, Senator Bob Menendez, state party chairman Joe Cryan and Reps. Bill Pascrell, Frank Pallone and Steve Rothman, PolitickerNJ reports. Noticeably absent from that list: Rep. Rob Andrews. All four members of Congress are said to be interested in an eventual Senate bid of their own, and most have stocked up huge bank accounts in preparation for an eventual run. Through December 31, Andrews held cash reserves of nearly $2.4 million, Pallone had $3.2 million, Pascrell had $1.1 million and Rothman topped out at just over $2 million.

Should Lautenberg have pulled out of the contest, it would have sparked one of the most expensive and contentious Democratic primaries in recent memory. But, given New Jersey's recent electoral history, just because Lautenberg files for re-election does not necessarily mean his will be the name on the ballot come November. For now, though, surrounded by the biggest Democratic names in the state and without a top-tier GOP challenger, Lautenberg is another Democrat heavily favored to keep his seat for another six years.