form11-k.htm
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
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FORM
11-K
FOR
ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS
AND
SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
For
the
fiscal year
ended December
31,
2006
For
the
transition period
from
to _________________
Commission
file number
001-07283
A. Full
title of the plan and the address of the plan, if different from that of the
issuer named below:
REGAL
BELOIT CORPORATION RETIREMENT SAVINGS PLAN
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B.
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Name
of issuer of securities held pursuant to the plan and the address
of its
principal executive office:
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REQUIRED
INFORMATION
The
Regal
Beloit Corporation Retirement Savings Plan (“Plan) is subject to the Employee
Retirement Income Security Act of 1974 (“ERISA”). Attached hereto is a copy of
the most recent financial statements and schedule of the Plan prepared in
accordance with the financial reporting requirements of ERISA.
REGAL-BELOIT
CORPORATION
Financial
Statements as of and for the Years
Ended
December 31, 2006 and 2005,
Supplemental
Schedule as of December 30,
2006
and Independent Auditors’ Report
REGAL-BELOIT
CORPORATION
RETIREMENT
SAVINGS PLAN
TABLE
OF CONTENTS
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Page
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REPORT OF
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
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1
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FINANCIAL
STATEMENTS:
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Statements
of Net Assets Available for Benefits - December 31, 2006 and
2005
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2
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Statements
of Changes in Net Assets Available for Benefits - Years Ended December
31, 2006 and 2005
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3
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Notes
to Financial Statements
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4-9
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SUPPLEMENTAL
SCHEDULE:
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Form
5500, Schedule H, Part IV, Line 4i - Schedule of Assets (Held at
End
of
Year) as of December 31, 2006
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10-11
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All
other schedules required by Section 2520.103-10 of the Department
of
Labor’s Rules and Regulations for Reporting and Disclosure under the
Employee Retirement Income Security Act of 1974 have been omitted
because
they are not applicable.
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SIGNATURES
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12
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EXHIBIT
INDEX
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13
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REPORT
OF
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To
the
Trustees and Participants of
Regal-Beloit
Corporation Retirement Savings Plan
Milwaukee,
WI
We
have
audited the accompanying statements of net assets available for benefits of
Regal Beloit Corporation Retirement Savings Plan (the “Plan”) as of December 31,
2006 and 2005, and the related statements of changes in net assets available
for
benefits for the years then ended. These financial statements are the
responsibility of the Plan's management. Our responsibility is to express
an opinion on these financial statements based on our audits.
We
conducted our audits in accordance with standards of the Public Company
Accounting Oversight Board (United States). Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether
the
financial statements are free of material misstatement. The Plan is not
required to have, nor were we engaged to perform, an audit of its internal
control over financial reporting. Our audits included consideration of
internal control over financial reporting as a basis for designing audit
procedures that are appropriate in the circumstances, but not for the purpose
of
expressing an opinion on the effectiveness of the Plan's internal control over
financial reporting. Accordingly, we express no such opinion. An
audit also includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements, assessing the accounting principles
used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In
our
opinion, such financial statements present fairly, in all material respects,
the
net assets available for benefits of the Plan as of December 31, 2006 and 2005,
and the changes in net assets available for benefits for the years then ended
in
conformity with accounting principles generally accepted in the United States
of
America.
Our
audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of (1)
assets (held at end of year) as of December 31, 2006, and (2) transactions
in
excess of five percent of the current value of plan assets for the year ended
December 31, 2006, are presented for the purpose of additional analysis and
are
not a required part of the basic financial statements, but are supplementary
information required by the Department of Labor's Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act
of
1974. These schedules are the responsibility of the Plan's
management. Such schedules have been subjected to the auditing procedures
applied in our audit of the basic 2006 financial statements and, in our opinion,
are fairly stated in all material respects when considered in relation to the
basic financial statements taken as a whole.
/s/
DELOITTE & TOUCHE LLP
Milwaukee,
WI
June
28,
2007
REGAL-BELOIT
CORPORATION
RETIREMENT
SAVINGS PLAN
STATEMENTS
OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER
31, 2006 AND 2005
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2006
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2005
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ASSETS:
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Cash
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$ |
112,701
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$ |
7,908
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Investments,
at fair value:
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Mutual
Funds
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91,469,828
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84,752,821
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Common
Collective Trust Funds
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34,655,611
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38,052,899
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Investment
in REGAL-BELOIT CORPORATION
Unitized
Stock Fund
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25,541,307
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19,196,867
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Participant
Loans
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2,555,639
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2,971,044
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Total
investments
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154,222,385
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144,973,631
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Receivables:
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Employer
contributions
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962,164
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861,804
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Participant
contributions
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223,494
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241,227
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Accrued
interest and dividends
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154,048
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151,627
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Due
from brokers
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81,701
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1,362
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Total
receivables
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1,421,407
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1,256,020
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Total
assets
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155,756,493
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146,237,559
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LIABILITIES:
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Due
to brokers
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118,977
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34,961
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Accrued
administrative fees
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3,100
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3,100
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Total
liabilities
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122,077
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38,061
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Adjustments
from fair value to contract value for fully
benefit-responsive
investment contracts
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350,057
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384,373
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NET
ASSETS AVAILABLE FOR BENEFITS
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$ |
155,984,473
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$ |
146,583,871
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See
notes to financial statements.
REGAL-BELOIT
CORPORATION
RETIREMENT
SAVINGS PLAN
STATEMENTS
OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
YEARS
ENDED DECEMBER 31, 2006 AND
2005
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2006
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2005
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CONTRIBUTIONS:
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Employer
contributions
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$ |
3,091,518
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$ |
3,461,207
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Participant
contributions
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8,043,422
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8,033,203
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Participant
rollovers
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252,332
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421,074
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Total
contributions
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11,387,272
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11,915,484
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INVESTMENT
INCOME:
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Net
appreciation in fair value of investments
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17,413,988
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6,593,061
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Interest
and dividends
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3,210,947
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2,905,822
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Total
investment income
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20,624,935
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9,498,883
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DEDUCTIONS:
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Benefits
paid to participants
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17,181,215
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14,519,948
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Transfer
to other plan
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5,365,089
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-
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Administrative
fees
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65,301
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39,266
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Total
deductions
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22,611,605
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14,559,214
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NET
INCREASE
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9,400,602
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6,855,153
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NET
ASSETS AVAILABLE FOR BENEFITS:
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Beginning
of year
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146,583,871
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139,728,718
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End
of year
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$ |
155,984,473
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$ |
146,583,871
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See
notes to financial statements.
REGAL-BELOIT
CORPORATION
RETIREMENT
SAVINGS PLAN
NOTES
TO FINANCIAL STATEMENTS
YEARS
ENDED DECEMBER 31, 2006 AND
2005
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The
following description of the REGAL-BELOIT CORPORATION Retirement Savings Plan
(the “Plan”) is provided for general information purposes only. More
complete information regarding the Plan’s provisions may be found in the Plan
document. The Plan is subject to the provisions of the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”).
General
– The Plan is a defined contribution plan which allows eligible
employees to defer compensation as permitted under Section 401(k) of the
Internal Revenue Code (the “IRC”). The Plan covers substantially all employees
of REGAL-BELOIT CORPORATION (the “Company”) with at least six months of service
with the Company.
Effective
May 5, 2006, the Company sold one of it’s divisions. As a result of
the sale, $5,365,089 of employee accounts were transferred into the Regal
Cutting Tools, Inc. Retirement Savings Plan.
Plan
Administration – Marshall & Ilsley Trust Company (the
“Trustee”) is trustee, custodian, and recordkeeper for the
Plan. Overall responsibility for administering the Plan rests with
the Administrative Committee.
Contributions
– Eligible employees can contribute an amount of up to 100% of
compensation as defined by the Plan subject to certain limitations under the
IRC. The Plan also allows “catch-up” contributions for those
participants age 50 or over, in addition to the actual deferral
amount.
All
participating REGAL-BELOIT CORPORATION Mechanical Group and Corporate employees,
except full-time bargaining unit employees of the Illinois Gear division,
receive an employer match equal to 50% of a participant’s deferral, up to 3% of
a participant’s compensation. The Plan also provides for
discretionary contributions subject to the Board of Director’s
authorization. Discretionary contributions of $658,158
and $624,494 were made to the Plan for 2006 and 2005, respectively.
For
salaried employees of Marathon Electric Manufacturing Corporation and, from
August 30, 2004, REGAL-BELOIT Electric Motors, Inc. (wholly-owned subsidiaries
of REGAL-BELOIT CORPORATION), who are not members of a collectively-bargained
unit, or employed at the Blytheville, Arkansas location, the Company makes
a 50%
matching contribution of the participant’s contribution up to 5% of pretax
annual income.
The
Plan
covers all hourly employees and truck drivers of the Marathon Electric
Manufacturing Corporation and its subsidiary, the Marathon Special Products
Corporation, and substantially all salaried employees of its Blytheville
subsidiary. The Company currently matches 50% of the portion of an
employee’s contribution up to 5% of pretax income for employees represented by
Local 1791 I.B.E.W.; 4% for employees represented by Teamsters Local 446; and
3%
for hourly employees at the West Plains, Lebanon, Brownsville, and Blytheville
facilities. For employees represented by Local 1076 I.B.E.W., the
Company matched 35% of an employee’s contribution up to 4% of pretax income,
through March 31, 2004, and 40% of an employee’s contribution up to 4% of pretax
income, beginning April 1, 2004. There is no Company match for Lima
facility participants. Lima employees who are employed on January 1,
and who complete their probationary period by that date, received a Company
contribution of $1,200 and $1,200 for 2006 and 2005, respectively, for one
year’s service and a prorated amount for less than one year’s
service.
Employees
of the Leeson Electric Corporation, a wholly-owned subsidiary of the
REGAL-BELOIT CORPORATION, who are participants, receive a Company match of
50%
of the first 4% of compensation contributed. The Company may also
make discretionary match and/or profit sharing contributions. The
Company made no discretionary contributions in 2006 or 2005.
Vesting
– Participants at all times have a fully vested interest in
individual contribution accounts. Company matching and discretionary
contributions are subject to a three year cliff vesting. Corporate
and Mechanical Group Profit Sharing balances have a seven year step
vesting. Lima bargaining unit participants are immediately fully
vested in Company contributions. All participant accounts become
fully vested at the time of death or disability.
Forfeited
Accounts – At December 31, 2006 and 2005 forfeited accounts
totaled $61,779 and $56,000, respectively. In the event of a
forfeited account, the forfeitures are used to reduce employer contributions
in
the Plan year following the Plan year in which the forfeitures
occur.
Benefit
Payments – Distributions of participants’ accounts are made in
lump-sum amounts upon normal retirement from the Company, upon the death of
the
participant or upon termination of employment. Benefit payments or
annuities are also available upon request upon attainment of age 59
½. Withdrawals for financial hardship can be made in accordance with
certain governmental regulations.
Participant
Accounts – Individual accounts are maintained for each Plan
participant. Each participant’s account is credited with the
participant’s contribution, any Company matching contribution, allocations of
Company discretionary contributions and Plan earnings, and charged with
withdrawals and an allocation of Plan losses and administrative
expenses. Allocations are based on participant earnings or account
balances, as defined in the Plan document. The benefit to which a
participant is entitled is the benefit that can be provided from the
participant’s vested account.
Investment
Options – Participants are able to change their investment options
in 1% increments, 12 times per quarter.
The
following funds are available to participants: Marshall & Ilsley,
Regal-Beloit Corporation Stock Fund, Allianz NFJ Dividend Value FD, Artisan
FDS
Inc., Baron, Dodge & Cox, Goldman Sachs, American Growth Fund, Heritage Mid
Cap Stock Fund, Vanguard Group, Wells Fargo Advantage Small Cap Fund and
Pimco.
Adoption
of New Accounting Guidance – The financial statements reflect the
retroactive adoption of Financial Accounting Standards Board Staff Position,
FSP
AAG INV-1 and SOP 94-4-1, Reporting of Fully Benefit-Responsive Contracts
Held by Certain Investment Companies Subject to the AICPA Investment Company
Guide and Defined-Contribution Health and Welfare and Pension Plans (the
“FSP’). As required by the FSP, the statements of net assets
available for benefits present investment contracts at fair value as well as
an
additional line item showing an adjustment of fully benefit-responsive contracts
from fair value to contract value basis and were not affected by the adoption
of
the FSP. The adoption of the FSP did not impact the amount of net
assets available for benefits at December 31, 2005.
Risks
and Uncertainties – The Plan invests in various investment
instruments, including common collective trusts and mutual
funds. Investment securities, in general, are exposed to various
risks, such as interest rate, credit and overall market
volatility. Due to the level of risk associated with certain
investment securities, it is reasonably possible that changes in the values
of
certain investment securities will occur in the near term and that such changes
could materially affect the amounts reported in the financial
statements.
Participant
Loans – The Plan permits a participant to borrow from his or her
individual account an amount limited to 50% of the vested account balance for
participants up to $50,000. The minimum loan amount is
$1,000. Interest at prevailing market rates (ranging from 4.0% to
8.25% as of December 31, 2006 and 2005, respectively) is charged on the
loan. Only one loan is allowed at any time, and the maximum term is
five years, unless the loan is used for the acquisition of the participant’s
primary residence, for which the term of the loan may be extended beyond the
five year period.
Excess
Contribution Payable – The Plan is required to return
contributions and related earnings received during the year in excess of IRC
limits.
Plan
Termination – The Company may terminate the Plan at any
time. Distribution upon termination or complete discontinuance of
contributions will be made in a manner selected by the
Trustee. Presently, the Company has no intention to terminate the
Plan. In the event that the Plan is terminated, participants would
become 100% vested in their accounts.
2.
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SIGNIFICANT
ACCOUNT POLICIES
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Basis
of Accounting – The accompanying financial statements have been
prepared in accordance with accounting principles generally accepted in the
United States of America.
Investments
– Investment purchases and sales are recorded on the trade
date. Dividends are recorded on the ex-dividend
date. Interest income is recorded on the accrual basis.
Plan
investments, except the M&I Stable Principal Fund, are reported at fair
value as determined through reference to published market values. The
M&I Stable Principal Fund is a common collective trust that invests in fully
benefit-responsive investment contracts. The investment is valued at
contract value which approximates fair value. Contract value
represents contributions made under the contract, plus earnings, less
participant withdrawals and administrative expenses. Participant
loans are stated at unpaid principal amount plus accrued interest.
Benefit
Payments – Benefit payments to participants are recorded when
paid. Amounts payable to participants who elected to withdraw from
the Plan but had not been paid were $166,654 and $0 at December 31, 2006 and
2005, respectively.
Use
of Accounting Estimates – The preparation of financial statements
in conformity with accounting principles generally accepted in the United States
of America requires the Plan’s management to make estimates and assumptions that
affect the reported amounts of Plan assets and liabilities at the date of the
financial statements and reported amounts of income and expenses during the
reporting periods. Actual results could differ from these
estimates.
The
Plan
invests in various securities. Investment securities are exposed to
various risks including, but not limited to, interest rate, market and credit
risks. Due to the level of risk associated with certain investment
securities, it is at least reasonably possible that changes in the values of
investment securities will occur in the near term and such changes could be
material to the financial statements.
Administrative
Expenses – The Plan pays all administrative
expenses.
The
following presents investments that represent five percent or more of the Plan’s
net assets as of December 31, 2006 and 2005. All investments are
participant directed.
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December
31,
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December
31,
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2006
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2005
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M&I
Stable Principal Fund*
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35,005,668
and 38,437,272 shares, respectively
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$ |
34,655,611
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$ |
38,052,899
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Regal-Beloit
Corporation Unitized Stock Fund*
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413,339
and 521,790 shares, respectively
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25,541,307
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19,196,867
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Dodge
& Cox Balanced Fund
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267,003
and 249,541 shares, respectively
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23,250,628
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20,297,675
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Vanguard
Institutional Index Fund
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117,748
and -0- shares, respectively
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15,258,952
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-
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American
Growth Fund of America
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379,140
and -0- shares, respectively
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12,303,091
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-
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Allianz
NFJ Dividend Value Fund
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473,721
and -0- shares, respectively
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8,076,936
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-
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ABN
AMRO/Chicago Cap Growth Fund Class N
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-0-
and 623,653 shares, respectively
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-
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13,901,220
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Vanguard
500 Index Fund
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-0-
and 116,715 shares, respectively
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-
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13,412,852
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Wells
Fargo Advantage Opportunity Fund
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-0-
and 293,090 shares, respectively
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-
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13,150,970
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AIM
Basic Value Fund
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-0-
and 222,505 shares, respectively
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-
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7,614,135
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*Represents
party-in-interest.
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|
|
|
|
|
|
4.
|
PARTICIPANT
ACCOUNTING
|
Participant
recordkeeping is performed
by Marshall & Ilsley Trust Company (“M&I”). For all
investment programs other than the REGAL-BELOIT CORPORATION Unitized Stock
Fund
(the “Fund”), M&I maintains participant balances on a share
method. Participant investments in the Fund are accounted for on a
unit value method. The unit value for the Fund is computed based on
the share price, dividend information, and the value of the Fund’s short term
investments. At December 31, 2006 and 2005, the Plan held 413,339
units and 521,790 units, respectively, of the Fund. The Fund invests
in shares of REGAL-BELOIT CORPORATION common stock and held 413,339 shares
and
460,803 shares at December 31,
2006
and 2005, respectively. In addition to REGAL-BELOIT CORPORATION
common stock, the Fund also invests in the Marshall Money Market
Fund.
5.
|
GUARANTEED
INVESTMENT CONTRACTS
|
The
Plan
invests in the M&I Stable Principal Fund. The M&I Stable
Principal Fund primarily invests in guaranteed investment contracts and
synthetic guaranteed investment contracts, which are fully
benefit-responsive. Fully benefit-responsive investment contracts are
valued at contract value, which represents the principal balance of the
investment contracts, plus accrued interest at the stated contract rate, less
payments received and contract charges by the insurance company, which
approximates fair value.
The
Plan
uses a prototype plan document sponsored by the Trustee. The Trustee
received an opinion letter from the Internal Revenue Service (IRS), dated
November 27, 2001, which states that the prototype document satisfies the
applicable provisions of the Internal Revenue Code (IRC). The Plan
received a favorable IRS determination letter from the IRS on November 26,
2004. The Plan’s management also believes that the Plan is currently
designed and being operated in compliance with the applicable requirements
of
the IRC. Therefore, no provision for income taxes has been included
in the Plan’s financial statements.
7.
|
RELATED-PARTY
TRANSACTIONS
|
Plan
assets are invested in a common collective fund managed by the
Trustee. Fees paid by the Plan for investment management services are
included as a reduction of the return earned by the fund. In
addition, the Plan invests in securities of the Company. These
transactions are not considered prohibited transactions by statutory exemption
under ERISA regulations.
8.
|
EXEMPT
PARTY-IN-INTEREST
TRANSACTIONS
|
Certain
Plan investments are shares of mutual funds managed by Marshall & Ilsley
Trust Company, N.A. (M&I). M&I is the trustee of the Plan
and, therefore, these transactions qualify as exempt part-in-interest
transactions. Fees paid by the Plan for investment management and
recordkeeping service are included as a reduction of the return earned by each
fund.
9.
|
RECONCILIATION
OF FINANCIAL STATEMENTS TO FORM
5500
|
The
following table reconciles the statements of net assets available for benefits
and the statements of changes in net assets available for benefits to the Form
5500.
|
|
Year
Ended
|
|
|
|
December
31,
|
|
|
December
31,
|
|
|
|
2006
|
|
|
2005
|
|
Net
Assets Per Modified Cash Basis Form 5500
|
|
$ |
154,451,858
|
|
|
$ |
145,483,940
|
|
Contributions
Receivable
|
|
|
1,185,658
|
|
|
|
1,103,031
|
|
Adjustments
from fair value to contract value for fully
|
|
|
|
|
|
|
|
|
benefit-responsive
investment contracts
|
|
|
350,057
|
|
|
|
-
|
|
Accrued
Administrative Fees
|
|
|
(3,100 |
) |
|
|
(3,100 |
) |
|
|
|
|
|
|
|
|
|
Net
Assets Per Statement of Net Assets
|
|
|
|
|
|
|
|
|
Available
for Benefits
|
|
$ |
155,984,473
|
|
|
$ |
146,583,871
|
|
|
|
Year
Ended
|
|
|
|
December
31,
|
|
|
December
31,
|
|
|
|
2006
|
|
|
2005
|
|
Contributions
Per Modified Cash Basis Form 5500
|
|
$ |
11,304,645
|
|
|
$ |
11,216,719
|
|
|
|
|
|
|
|
|
|
|
Change
in Contributions Receivable
|
|
|
82,627
|
|
|
|
698,765
|
|
|
|
|
|
|
|
|
|
|
Contributions
Per Statement of Changes in Net Assets Available
for Benefits
|
|
$ |
11,387,272
|
|
|
$ |
11,915,484
|
|
|
|
Year
Ended
|
|
|
|
December
31,
|
|
|
December
31,
|
|
|
|
2006
|
|
|
2005
|
|
Net
Increase Per Modified Cash Basis Form 5500
|
|
$ |
8,967,918
|
|
|
$ |
6,156,388
|
|
|
|
|
|
|
|
|
|
|
Change
in Contributions Receivable
|
|
|
82,627
|
|
|
|
698,765
|
|
|
|
|
|
|
|
|
|
|
Adjustments
from fair value to contract value for fully |
|
|
|
|
|
|
|
|
benefit-responsive
investment contracts
|
|
|
350,057
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Net
Increase Per Statement of Changes in Net Assets Available for
Benefits
|
|
$ |
9,400,602
|
|
|
$ |
6,855,153
|
|
*
* *
* * *
SUPPLEMENTAL
SCHEDULE
FURNISHED
PURSUANT TO
DEPARTMENT
OF LABOR’S RULES AND REGULATIONS
REGAL-BELOIT
CORPORATION
RETIREMENT
SAVINGS PLAN
FORM
5500, SCHEDULE H, PART IV, LINE 4i – SCHEDULE OF
ASSETS
(HELD
AT END OF YEAR)
DECEMBER
31, 2006
|
Identity
of Issue, Borrower,
Lessor,
or Similar Party
|
Description
of Investment
|
|
Fair
Value
|
|
Marshall
& Ilsley*
|
M&I
Stable Principal Fund*
|
|
$ |
34,655,611
|
|
|
|
|
|
|
|
Regal-Beloit
Corporation Stock Fund*
|
Regal-Beloit
Corporation Master Trust*
|
|
|
25,541,307
|
|
|
|
|
|
|
|
Allianz
NFJ Dividend Value FD
|
Allianz
NFJ Dividend Value Fund
|
|
|
8,076,936
|
|
|
|
|
|
|
|
Artisan
FDS Inc.
|
Artisan
FDS Inc.
|
|
|
250,708
|
|
|
|
|
|
|
|
Baron
|
Baron
Asset FD Growth/Income ED
|
|
|
7,613,443
|
|
|
|
|
|
|
|
Dodge
& Cox
|
Dodge
& Cox Balanced Fund
|
|
|
23,250,628
|
|
|
|
|
|
|
|
Dodge
& Cox
|
Dodge
& Cox International Stock FD
|
|
|
6,747,623
|
|
|
|
|
|
|
|
Goldman
Sachs
|
Goldman
Sachs Mid Cap Value Fund
|
|
|
6,351,135
|
|
|
|
|
|
|
|
American
Growth Fund
|
American
Growth FD of America
|
|
|
12,303,091
|
|
|
|
|
|
|
|
Heritage
Mid Cap Stock Fund
|
Heritage
Mid Cap Stock Fund
|
|
|
6,164,165
|
|
|
|
|
|
|
|
Vanguard
Group
|
Vanguard
Target Retirement 2005 FD
|
|
|
636
|
|
|
|
|
|
|
|
Vanguard
Group
|
Vanguard
Target Retirement 2015 FD
|
|
|
265,476
|
|
|
|
|
|
|
|
Vanguard
Group
|
Vanguard
Target Retirement 2025 FD
|
|
|
168,955
|
|
|
|
|
|
|
|
Vanguard
Group
|
Vanguard
Target Retirement 2035 FD
|
|
|
65,755
|
|
|
|
|
|
|
|
Vanguard
Group
|
Vanguard
Target Retirement 2045 FD
|
|
|
17,317
|
|
|
|
|
|
|
|
Vanguard
Group
|
Vanguard
Institutional Index FD
|
|
|
15,258,952
|
|
|
|
|
|
|
|
Wells
Fargo Advantage Small Cap Fund
|
Wells
Fargo Advantage Small Cap ED
|
|
|
259,613
|
|
|
|
|
|
|
|
Pimco
|
Pimco
Total Return Fund
|
|
|
4,675,395
|
|
|
|
|
|
|
|
Loans
to participants*
|
Loans
to Participants (Interest rates ranging
from
4.0% to 8.25%)
|
|
|
2,555,639
|
|
|
|
|
|
|
|
TOTAL
ASSETS (HELD AT END OF YEAR)
|
|
$ |
154,222,385
|
|
|
|
|
|
|
*Represents
party-in-interest.
|
|
|
|
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the trustees (or
other persons who administer the employee benefit plan) have duly caused this
annual report to be signed on its behalf by the undersigned hereunto duly
authorized.
Dated:
|
June
28, 2007
|
REGAL
BELOIT CORPORATION
RETIREMENT
SAVINGS PLAN
|
|
|
|
|
|
|
By:
|
REGAL
BELOIT CORPORATION
RETIREMENT
SAVINGS PLAN
ADMINISTRATIVE
COMMITTEE
|
|
|
|
|
|
|
By:
|
/s/
David A. Barta
|
|
|
|
David
A. Barta
Vice
President, Chief Financial Officer and Committee
Member
|
EXHIBIT
INDEX
REGAL
BELOIT CORPORATION RETIREMENT SAVINGS PLAN
FORM
11-K
FOR
THE FISCAL YEAR ENDED DECEMBER 31, 2006
Exhibit
No.
|
Description
|
23
|
Consent
of Independent Registered Public Accounting
Firm
|