The Company accounts for its employee benefit plans in accordance with ASC Topic 715 Compensation – Retirement Benefits. ASC Topic 715 requires an employer to: (a) recognize in its statement of financial position an asset for a plan’s over-funded status or a liability for a plan’s under-funded status; (b) measure a plan’s assets and its obligations that determine its funded status as of the end of the employer’s fiscal year (with limited exceptions); and (c) recognize changes in the funded status of a defined benefit postretirement plan in the year in which the changes occur.

These amounts will be subsequently recognized as net periodic pension cost pursuant to the Company’s historical accounting policy for amortizing such amounts. Further, actuarial gains and losses that arise in subsequent periods and are not recognized as net periodic pension cost in the same periods will be recognized as a component of accumulated other comprehensive income (loss). The amortization of the unrecognized loss included in accumulated other comprehensive income (loss) and expected to be recognized in net periodic pension cost in fiscal 2019 is approximately $669,000.

In connection with the Casual Male acquisition in May 2002, the Company assumed the assets and liabilities of the Casual Male Noncontributory Pension Plan “Casual Male Corp. Retirement Plan”, which was previously known as the J. Baker, Inc. Qualified Plan (the “Pension Plan”). Casual Male Corp. froze all future benefits under this plan on May 1, 1997.

The following table sets forth the Pension Plan’s funded status at February 2, 2019 and February 3, 2018:

	February 2, 2019			February 3, 2018
	in thousands
Change in benefit obligation:
Balance at beginning of period	$	16,284		$	16,456
Benefits and expenses paid		(809	)		(775	)
Interest costs		580			641
Settlements		(509	)		(410	)
Actuarial (gain) loss		(571	)		372
Balance at end of year	$	14,975		$	16,284

Change in fair value of plan assets:
Balance at beginning of period	$	12,855		$	11,734
Actual return on plan assets		(743	)		1,720
Employer contributions		571			586
Settlements		(509	)		(410	)
Benefits and expenses paid		(809	)		(775	)
Balance at end of period	$	11,365		$	12,855

Reconciliation of funded status:
Projected benefit obligation	$	14,975		$	16,284
Fair value of plan assets		11,365			12,855
Unfunded Status	$	(3,610	)	$	(3,429	)

Balance sheet classification:
Other long-term liabilities	$	3,610		$	3,429

Total plan expense and other amounts recognized in accumulated other comprehensive loss for the years ended February 2, 2019, February 3, 2018 and January 28, 2017 include the following components:

	February 2, 2019			February 3, 2018			January 28, 2017
Net pension cost:	(in thousands)
Interest cost on projected benefit obligation	$	580		$	641		$	686
Expected return on plan assets		(890	)		(813	)		(927	)
Amortization of unrecognized loss		662			842			946
Net pension cost	$	352		$	670		$	705

Other changes recognized in other comprehensive loss, before taxes:
Unrecognized losses at the beginning of the year	$	5,903		$	7,280		$	8,139
Net periodic pension cost		(352	)		(670	)		(705	)
Employer contribution		571			586			—
Change in plan assets and benefit obligations		181			(1,293	)		(154	)
Unrecognized losses at the end of year	$	6,303		$	5,903		$	7,280

The Company’s contribution for fiscal 2019 is estimated to be approximately $420,000.

Assumptions used to determine the benefit obligations as of February 2, 2019 and February 3, 2018 include a discount rate of 3.98% for fiscal 2018 and 3.68% for fiscal 2017. Assumptions used to determine the net periodic benefit cost for the years ended February 2, 2019, February 3, 2018 and January 28, 2017 included a discount rate of 3.98% for fiscal 2018, 3.68% for fiscal 2017 and 4.00% for fiscal 2016.

The expected long-term rate of return for plan assets was assumed to be 6.50% for fiscal 2018 and 7.00% for fiscal 2017. The expected long-term rate of return assumption was developed considering historical and future expectations for returns for each asset class.

The fair values of the Company’s noncontributory defined benefit retirement plan assets at the end of fiscal 2018 and fiscal 2017, by asset category, were as follows:

	Fair Value Measurement
	February 2, 2019								February 3, 2018
(in thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Asset category:
Mutual Funds:
U.S. Equity	$	4,247		—		—	$	4,247	$	4,789		—		—	$	4,789
International Equity		3,144		—		—		3,144		3,662		—		—		3,662
Bond		3,722		—		—		3,722		4,074		—		—		4,074
Cash		252		—		—		252		330		—		—		330
Total	$	11,365	$	—	$	—	$	11,365	$	12,855	$	—	$	—	$	12,855

The Company’s target asset allocation for fiscal 2019 and its asset allocation at February 2, 2019 and February 3, 2018 were as follows, by asset category:

	Target Allocation			Percentage of plan assets at
	Fiscal 2019			February 2, 2019			February 3, 2018
Asset category:
Equity securities		60.0	%		65.0	%		65.7	%
Debt securities		38.0	%		32.7	%		31.7	%
Cash		2.0	%		2.2	%		2.6	%
Total		100.0	%		100.0	%		100.0	%

The target policy is set to maximize returns with consideration to the long-term nature of the obligations and maintaining a lower level of overall volatility through the allocation of fixed income. The asset allocation is reviewed throughout the year for adherence to the target policy and is rebalanced periodically towards the target weights.

In connection with the Casual Male acquisition, the Company also assumed the liability of the Casual Male Supplemental Retirement Plan (the “SERP”).

The following table sets forth the SERP’s funded status at February 2, 2019 and February 3, 2018:

	February 2, 2019			February 3, 2018

	in thousands
Change in benefit obligation:
Balance at beginning of period	$	530		$	652
Benefits and expenses paid		(33	)		(32	)
Interest costs		19			25
Actuarial gain		(9	)		(115	)
Balance at end of year	$	507		$	530

Change in fair value of plan assets:
Balance at beginning of period	$	—		$	—
Employer contributions		33			32
Benefits and expenses paid		(33	)		(32	)
Balance at end of period	$	—		$	—

Projected benefit obligation	$	507		$	530

Reconciliation of funded status:
Projected benefit obligation	$	507		$	530
Fair value of plan assets		—			—
Unfunded Status	$	(507	)	$	(530	)

Balance sheet classification:
Other long-term liabilities	$	507		$	530

Other changes recognized in other comprehensive loss, before taxes (in thousands):

	February 2, 2019			February 3, 2018			January 28, 2017
Other changes recognized in other comprehensive loss, before taxes:	in thousands
Unrecognized losses at the beginning of the year	$	37		$	157		$	178
Net periodic pension cost		(19	)		(30	)		(33	)
Employer contribution		33			32			30
Change in benefit obligations		(23	)		(122	)		(18	)
Unrecognized losses at the end of year	$	28		$	37		$	157

Assumptions used to determine the benefit obligations as of February 2, 2019 and February 3, 2018 included a discount rate of 3.87% for fiscal 2018 and 3.60% for fiscal 2017. Assumptions used to determine the net periodic benefit cost for the years ended February 2, 2019, February 3, 2018 and January 28, 2017 included a discount rate of 3.87% for fiscal 2018, 3.60% for fiscal 2017 and 4.00% for fiscal 2016.

The Company has one defined contribution plan, the Destination XL Group, Inc. 401(k) Savings Plan (the “401(k) Plan”). Under the 401(k) Plan, the Company offers a qualified automatic contribution arrangement (“QACA”) with the Company matching 100% of the first 1% of deferred compensation and 50% of the next 5% (with a maximum contribution of 3.5% of eligible compensation). As of January 1, 2015, employees who are 21 years of age or older are eligible to make deferrals after 6 months of employment and are eligible to receive a Company match after one year of employment and 1,000 hours.

In May 2018, in connection with the Company’s cost reduction initiatives, as discussed in Note K, Corporate Restructuring, the Board ratified and approved the recommendation of the Company’s management team to suspend any further employer contributions to the 401(k) Plan, effective July 1, 2018, until the end of calendar year 2019 at the latest.

The Company recognized $0.9 million, $2.3 million and $2.2 million of expense under this plan in fiscal 2018, 2017 and 2016, respectively.