An assembly is provided for forming holes in a workpiece. The assembly includes an arbor, a pin sleeve and a cutting device. The arbor has a nose having at least one threaded portion and at least one unthreaded portions on an external surface thereof. The arbor also has at least one pin passageway extending therethrough. The pin sleeve has at least one pin extending from a main body. The arbor extends through the pin sleeve. The cutting device has a back plate and a plurality of teeth extending therefrom. The back plate has a passageway defined by a wall with at least one threaded portion and at least one unthreaded portion. The at least one threaded portion of the cutting device is capable of engaging with the at least one threaded portion of the nose, and the at least one pin of the pin sleeve is capable of engagement with the at least one pin passageway of the arbor to secure the components together.