BENEFIT PLANS

Filene's Basement Defined Benefit Pension Plan- Merger Sub was responsible for the Filene’s Basement defined benefit pension plan (the "plan") that RVI assumed as part of its sale of Filene's Basement in fiscal 2009. In April 2013, the Company received a favorable determination letter from the Internal Revenue Service, began the process of obtaining participant settlement elections and was required to disburse the funds within 120 days of the receipt of the favorable determination letter. The Company contributed a final contribution of $5.0 million to fully fund the plan. In the second quarter of fiscal 2013, the Company distributed all plan assets to participants through lump-sum distributions and a nonparticipating annuity contract. The settlement of the pension plan resulted in a settlement loss of $8.9 million, which is net of an income tax benefit of $5.3 million, which was reclassified from accumulated other comprehensive loss to the statement of operations in the second quarter of fiscal 2013.

The following table provides additional detail regarding the composition of and reclassification adjustments out of accumulated other comprehensive loss for the period presented:



	Fiscal 2013			Location on Consolidated Statement of Operations

	(in thousands)
Beginning Balance	$	(8,758	)

Reclassification adjustments:
Reclassification to net income due to settlement of the pension plan	14,224			Operating expenses
Tax benefit of the settlement of the pension plan	(5,289		)	Income tax provision

Other changes to accumulated other comprehensive loss:
Change in minimum pension liability	(177		)

Ending Balance	$	—

The components of net periodic benefit cost are comprised of the following for the period presented:



	Fiscal 2013

	(in thousands)
Interest cost	$	843
Expected return on plan assets	(808		)
Loss recognized due to settlements	14,224
Amortization of net loss	494
Net periodic benefit cost	$	14,753

For the period presented, other changes in plan assets and benefit obligations recognized in net periodic cost and other comprehensive (income) loss consist of:



	Fiscal 2013

	(in thousands)
Net actuarial loss	$	671
Loss recognized due to settlements	(14,224		)
Amortization of net loss	(494		)
Total recognized in other comprehensive (income) loss	(14,047		)
Net periodic benefit cost	14,753
Total recognized in net periodic benefit cost and other comprehensive income	$	706

Other Benefit Plans

401(k) Plan- The Company sponsors a 401(k) Plan (the "Plan"). Eligible employees may contribute up to 50% of their compensation to the 401(k) Plan, on a pre-tax basis, subject to Internal Revenue Service limitations. As of the first day of the month following an employee’s completion of six months and 500 hours of service as defined under the terms of the 401(k) Plan, the Company matches employee deferrals, 100% on the first 3% of eligible compensation deferred and 50% on the next 2% of eligible compensation deferred. Additionally, the Company may contribute a discretionary profit sharing amount to the Plan each year, but has not for the past three fiscal years. The Company incurred costs associated with the Plan of $3.8 million, $3.2 million and $3.1 million for fiscal 2015, 2014 and 2013, respectively.

Deferred Compensation Plan- The Company sponsors a non-qualified deferred compensation plan for certain executives and non-employee members of the Board of Directors that is intended to defer the receipt of compensation. As of January 30, 2016 and January 31, 2015, the plan liability was $2.2 million.