Destination XL Group, Inc. 401(k) Review & Grade
Destination XL Group, Inc. 401(k) Savings Plan
Canton, MARetail Trade1,371 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,709Employer $ per active participant
$4,424Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$107.3MNet plan assets, end of year
$48,205Average balance per account
Score breakdown
- Employer generosity39.8 / 5080th percentile for employer $ per participant
- Low cost11.2 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving10.9 / 1573th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 80th |
| Lower admin cost | 45th |
| Employee saving | 73th |
| Peers that auto-enroll | 48% |
Get the monthly 401(k) report card
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Destination XL Group put in about $1,709 per active participant, more than the typical peer ($743). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $2,343,389 |
| Participant (employee) contributions | $6,065,929 |
| Other contributions (incl. rollovers in) | $385,820 |
| Administrative expenses paid from the plan | $269,553 |
| Investment advisory & management fees | $58,000 |
| Benefits paid out | $8,339,037 |
| Net assets, start / end of year | $94.0M / $107.3M |
| Active participants, start / end of year | 1,256 / 1,486 |
| Participants with account balances | 2,225 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $187,928 reported compensation |
| Ubs Financial Services Inc | $58,000 reported compensation |
| Cbiz Cpas P.C | $23,625 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250821071416NAL0001956611001, received 2025-08-21, EIN 04-2623104, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.