Back to top

STRATTEC SECURITY CORPORATION Employee Savings and Investment Plan


Plan Information

  • Plan Year01/01/2007 — 12/31/2007
  • Date of Plan02/27/1995
  • Net Assets as of 12/31/2007 $33,993,623
  • Plan Number1
  • Plan Type Single Employer
  • Is the plan collectively bargained?Yes
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2007

  • Active (Eligible) Participants440
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits99
  • Subtotal539
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total539
  • Total number of participants as of 01/01/2007581
  • Number of participants with account balances504
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0
  • Number of participants required to be reported on Schedule SSA70


  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address3333 W Good Hope Rd
  • CityMilwaukee
  • StateWI
  • Zip53209-2043
  • Telephone(414) 247-3333
  • EIN39-1804239
  • Industry Code332900
  • Named AdministratorPatrick Hansen
  • Named Plan SponsorPatrick Hansen

Plan Administrator Information

  • Administrator NameSAME
  • Administrator EIN

Plan Preparer Information

  • Preparer NameGrant Thornton, LLP
  • AddressPo Box 8100
  • City Madison
  • StateWI
  • Zip53703-8100000
  • Telephone(608) 257-6761
  • Preparer EIN36-6055558

Audit Information

  • Audit StatusAudited
  • AuditorGrant Thornton, LLP
  • Auditor EIN36-6055558
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
3F Leased Employees Plan sponsor(s) received services of leased employees, as defined in Code section 414(n), during the plan year.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $10,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No


Income and Expense Statement

Income $3,854,475
Contributions $2,569,639
Cash Contributions $2,569,639
Cash from Employers $587,947
Cash from Participants $1,842,432
Others (including rollovers) $139,260
Noncash Contributions $0
Total Earnings on Investments $1,239,903
Total Interest $17,636
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $17,636
Interest from Other Investments $0
Total Dividends $20,929
Preferred Stock $0
Common Stock $20,929
Rents $0
Net gain (loss) on sale of assets $152,621
Aggregate Proceeds $668,306
Aggregate Carrying Amount $515,685
Total Unrealized Appreciation (depreciation) of assets $-125,107
Real Estate $0
Other $-125,107
Net investment gain (loss) from common/collective trusts $65,102
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $1,108,722
Other Income $44,933
Expenses $4,163,546
Total Benefit Payments $4,146,481
Directly to participants or beneficiaries, including direct rollovers $4,146,481
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $4,421
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $12,644
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $12,644
Net Income $-309,071
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2007 12/31/2006 Change YOY
Total Assets $33,998,044 $34,321,940 -0.94%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $36,974 $71,481 -48.27%
Employer Contributions $8,467 $16,692 -49.28%
Participant Contributions $28,507 $54,789 -47.97%
Other Contributions $0 $0 0.0%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $519,315 $649,381 -20.03%
Preferred $0 $0 0.0%
Common $519,315 $649,381 -20.03%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $267,956 $186,079 44.00%
Value of interest in common/collective trusts $5,063,494 $4,941,092 2.48%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $26,123,325 $26,182,959 -0.23%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $1,904,345 $2,184,718 -12.83%
Employer-related Investments $82,635 $106,230 -22.21%
Employer Securities $82,635 $106,230 -22.21%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $4,421 $19,246 -77.03%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $4,421 $19,246 -77.03%
Net Assets $33,993,623 $34,302,694 -0.90%

Service Providers

Service Providers

Name Nature of Service Relationship to Plan Sponsor Gross Salary or Allowances Paid by Plan Fees and Commissions Paid by Plan Total Salary/Fees
Dws Trust Company Trustee (Corporate) $0 $12,644 $12,644
Total $0 $12,644 $12,644



Name of Investment Investment Manager Type of Investment Dollar Value
Scudder Stable Value Fund Scudder Trust Company DFE: Common/Collective Trust $4,019,604
Scudder Stock Index Fund Scudder Trust Company DFE: Common/Collective Trust $1,043,890
Total $5,063,494

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.