Rayovac 2011 Annual Report Download - page 137
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SPECTRUM BRANDS HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)
(In thousands, except per share amounts)
Below is a summary allocation of all pension plan assets as of the measurement date.
Weighted Average
Allocation
Target Actual
Asset Category 2011 2011 2010
Equity Securities ............................................................ 0-60% 46% 43%
Fixed Income Securities ...................................................... 0-40% 21% 22%
Other ..................................................................... 0-100% 33% 35%
Total ..................................................................... 100% 100% 100%
The weighted average expected long-term rate of return on total assets is 6.2%.
The Company has established formal investment policies for the assets associated with these plans. Policy
objectives include maximizing long-term return at acceptable risk levels, diversifying among asset classes, if
appropriate, and among investment managers, as well as establishing relevant risk parameters within each asset
class. Specific asset class targets are based on the results of periodic asset liability studies. The investment
policies permit variances from the targets within certain parameters. The weighted average expected long-term
rate of return is based on a Fiscal 2011 review of such rates. The plan assets currently do not include holdings of
SB Holdings common stock.
The Company’s Fixed Income Securities portfolio is invested primarily in commingled funds and managed
for overall return expectations rather than matching duration against plan liabilities; therefore, debt maturities are
not significant to the plan performance.
The Company’s Other portfolio consists of all pension assets, primarily insurance contracts, in the United
Kingdom, Germany and the Netherlands.
The Company’s expected future pension benefit payments for Fiscal 2012 through its fiscal year 2021 are as
follows:
2012 ............................................................. $ 7,464
2013 ............................................................. 7,763
2014 ............................................................. 8,016
2015 ............................................................. 8,415
2016 ............................................................. 9,036
2017 to 2021 ....................................................... 52,300
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