Retirement plan

SPECTRUM BRANDS 401(K) RETIREMENT SAVINGS PLAN

Name: SPECTRUM BRANDS, INC. - SPECTRUM BRANDS 401(K) RETIREMENT SAVINGS PLAN (2023) Form 5500
Creator: SPECTRUM BRANDS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPECTRUM BRANDS 401(K) RETIREMENT SAVINGS PLAN, SPECTRUM BRANDS, INC.

SPECTRUM BRANDS, INC.EIN 22-2423556Plan #054PY 2023

3001 DEMING WAY PO BOX 620992 - MIDDLETON, WI 53562608-275-4419spectrumbrands.comLinkedIn1001-5000 employeesconsumer goods

Other plans on this EIN

1 filing

#023Retirement-$52.4M assets

Prospect flagsLow returnsCorrective distributions

Top hat statement on fileNQDC

Filed April 24, 1997 (most recent of 3 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$327.8M

-13.1% from 2016

Total participants

4,948

-12.2% from 2016

Average account balance

$69,947

+0.9% from 2016

Annual return

14.97%

-13.34 pp from 2016

Benchmarks

See 394 peers

Peer group

Industry32 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort394 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$337.25M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$104K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

3,252

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

78.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$18.97M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+14.29%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$175

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 13 · EIN 06-1050034 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Contract Administrator	$536,445
UBS FINANCIAL SERVICES INC4 years Filed as: UBS FINANCIAL SERVICES, INC. Service code 27 · EIN 13-2638166	Advisory (Plan)	$82,280
BAKER TILLY US, LLP1 year Filed as: BAKER TILLY US LLP Service code 10 · EIN 39-0859910 2599 WILMINGTON RD · NEW CASTLE, PA 16105	Accounting	$48,300

Plan features & details

Pension benefit codes2A2E2F2G2J2S2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
2E
Profit-sharing
Profit-sharing plan.
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 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of 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
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$504K

$298 / participant

Legal$82K16.3%
Contract admin$381K75.6%
Other / not subdivided$41K8.1%

% of EOY assets

0.154%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: $37,275
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$69,947

$104,631-33.1%

$98,462-29.0%

$80,187-12.8%

Participation rate

84.5%

87.5%-3.0pp

75.2%+9.3pp

72.9%+11.6pp

Annual return

14.97%

34.72%-19.8pp

21.20%-6.2pp

40.40%-25.4pp

Employer contribution / active EE

$4,312

$4,517-4.5%

$3,049+41.4%

$2,980+44.7%

Participant deferral / active EE

$10,547

$6,545+61.1%

$4,738+122.6%

$5,016+110.3%

Admin fee / account holder

$108

$105+2.7%

$8,875-98.8%

$145-25.8%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 13 · EIN 06-1050034

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Contract Administrator

$536,445

UBS FINANCIAL SERVICES INC4 years

Filed as: UBS FINANCIAL SERVICES, INC.

Service code 27 · EIN 13-2638166

Advisory (Plan)

$82,280

BAKER TILLY US, LLP1 year

Filed as: BAKER TILLY US LLP

Service code 10 · EIN 39-0859910

2599 WILMINGTON RD · NEW CASTLE, PA 16105

Accounting

$48,300

SPECTRUM BRANDS 401(K) RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPECTRUM BRANDS 401(K) RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion