Snap-on Incorporated

Snap-on Incorporated

Snap-on Incorporated maintains a defined benefit pension plan whose assets sit in the Snap-on Incorporated Retirement Plan Trust. Nicholas T. Pinchuk chairs the retirement plans committee that sets policy for the plan. The plan's disclosed holdings total $1.155 billion. The plan allocates across domestic equity securities valued at $71.9 million, foreign equity securities at $47.9 million, government debt at $151.1 million and corporate bonds at $330.9 million. It also holds $212.9 million in domestic commingled equity funds and $176.8 million in foreign commingled equity funds. A separate $600,000 allocation sits in U.S. real estate held directly by the trust. The plan participates in private equity and hedge fund partnerships on an aggregate basis through the trust vehicle. The plan reports 0.78 percent of assets in private equity. T. Rowe Price Trust Company serves as trustee and recordkeeper. State Street Bank and Trust Company acts as custodian. No additional offices or professional headcount figures appear in the record. The pension operates under ERISA requirements and participates in the ERISA Industry Committee. Governance flows through the retirement plans committee chaired by the parent company's CEO.