Best Buy Co., Inc. 401(k): Voya, match 4% max
Best Buy Retirement Savings Plan · BBY · CIK 764478
Voya is the recordkeeper named on the Form 5500 filed for this plan, the company that keeps the account records. Where to log in, and what the filing says.
Maximum employer match, as a share of pay
4%
Best Buy Co., Inc. matches 100% (dollar-for-dollar) of the first 3% of pay, then 50% of the next 2% of pay, for a maximum employer match of 4% of pay.
From the Form 11-K filed June 24, 2026 ↗, covering the plan year ended December 31, 2025. Page data last updated July 28, 2026, when the Form 5500 bulk data was last refreshed. Why filings lag
On this page: what the employer actually paid in · the formula, word for word · when the money becomes yours · who can join · who holds your account · what the plan reports to the DOL · how it compares · what to do next
What Best Buy puts in, and what the plan costs
What Best Buy put into the plan, per active participant
$777
Best Buy Co., Inc. put $777 into this plan for each of its 83,696 active participants in plan year 2024. This is the whole employer side of the plan: matching money, profit sharing, non-elective and safe-harbor contributions, and reallocated forfeitures. The Form 5500 does not separate them, so this is what the employer put in and not the match.
Best Buy put in more per active participant than 55% of plans with 5,000+ participants in retail. The middle plan in that group of 196 reported $700. Retail comes from business code 443142, which Best Buy entered on its own Form 5500. Sponsors pick that code themselves, so a code that does not describe what the employer does ranks the plan against the wrong companies.
What this figure cannot separate: how much Best Buy pays, and how much it puts in
This is dollars, not a rate. A Form 5500 carries no payroll, so the figure reflects both how much the employer puts in and how much the employer pays: two plans running the same formula report different amounts when one pays better. Crossing the peer group with industry holds most of that difference still, and none of it disappears.
This is one plan year, not an average. A true-up, a plan merger or a one-off contribution moves a single year on its own.
Source: DOL Form 5500 for the plan year ended December 31, 2024, EIN 550805038, plan 002 · DOL EFAST2 ↗
The $777 above is the Form 5500 figure for plan year 2024, and it counts every employer dollar on one line. Best Buy Co., Inc. also files a Form 11-K, which states the match formula for plan year 2025: the card below reads $1,980 a year at a $49,500 salary. That second figure is what the formula pays one worker on that salary, and not an amount either filing reports. The two figures cover different plan years and measure different things, so neither one is the other one corrected.
What Best Buy puts in
$1,980
a year, at a $49,500 salary.
The match paragraph, word for word
“After one year of service with the Company, the Company will match 100% of the participant's eligible contributions that do not exceed 3% of compensation, plus 50% of eligible contributions that exceed 3% but do not exceed 5% of compensation.”
What you contribute to collect all of it
Contribute at least 5% of your pay to collect the full match.
That is $2,475 a year at a $49,500 salary, and it scales with your own.
Vesting score
100 out of 100
How fast the employer’s money becomes yours. Higher than 48% of the 369 schedules we have scored.
It measures vesting speed and nothing else. It says nothing about the size of the match, what the plan charges, or the funds inside it.
Share of the employer's money that is the worker's at hire and at each of the first 6 anniversaries: 100%, 100%, 100%, 100%, 100%, 100%, 100%. The score is the average of those 7 readings.
Vesting, word for word
“Participants are immediately vested in their contributions, plus actual earnings thereon. Effective January 1, 2007, the Plan agreement was amended to adopt a safe harbor matching contribution provision intended to satisfy Section 401(k)(12)(B) of the Code. This provision provides that the participants' account balances holding such safe harbor matching contributions will be immediately 100% vested.”
A worker hired today collects no match for 1 year. This is a filed term, and it does not move the score above.
Eligibility, word for word
“Eligible employees of Best Buy Co., Inc. ("Best Buy") and subsidiaries (the "Company") may participate after reaching the age of 18. No minimum period of service is required.”
The wait before the match starts and the year-end true-up appear above when the filing states them. Neither is part of the score, and a filing that is silent on one of them is not a plan without it.
What the plan costs, against plans of its size
39th percentile
$44.06 per participant in plan-paid administrative cost, cheaper than 61% of plans with 5,000+ participants.
What is Best Buy's 401(k) match formula?
Best Buy's 401(k) employer match tops out at 4% of pay. A tiered formula pays its best rate on the first slice of pay and less on the next, which is how the rate steps down.
| Match formula | 100% (dollar-for-dollar) of the first 3% of pay |
|---|---|
| then | 50% of the next 2% of pay |
| Maximum employer match | 4% of compensation |
At a $75,000 salary, contributing 5% ($3,750) earns the full employer match of $3,000 for the year.
What the filing says, word for word
“After one year of service with the Company, the Company will match 100% of the participant's eligible contributions that do not exceed 3% of compensation, plus 50% of eligible contributions that exceed 3% but do not exceed 5% of compensation.”
Source: Form 11-K filed June 24, 2026, SEC EDGAR · SEC ↗
What is Best Buy's 401(k) vesting schedule?
Best Buy vests the employer match immediately: 100% is yours as soon as it is paid in. Nothing is forfeited when you leave, which is not true of the two schedules that vest over time.
| Employer match vesting | Immediate: employer match is 100% vested when contributed |
|---|---|
| Your own contributions | Immediate: always 100% yours |
Vesting, word for word
“Participants are immediately vested in their contributions, plus actual earnings thereon. Effective January 1, 2007, the Plan agreement was amended to adopt a safe harbor matching contribution provision intended to satisfy Section 401(k)(12)(B) of the Code. This provision provides that the participants' account balances holding such safe harbor matching contributions will be immediately 100% vested.”
Source: Form 11-K filed June 24, 2026, SEC EDGAR · SEC ↗
Who can join Best Buy's 401(k), and is enrollment automatic?
Best Buy's filing does not mention automatic enrollment, which is not the same as the plan having none.
| Plan entry | Eligible employees may participate after reaching age 18; no minimum period of service is required |
|---|---|
| Match eligibility | Matching contributions begin after one year of service with the Company |
| Automatic enrollment | Not mentioned in the filing (not proof of absence) |
Eligibility, word for word
“Eligible employees of Best Buy Co., Inc. ("Best Buy") and subsidiaries (the "Company") may participate after reaching the age of 18. No minimum period of service is required.”
Source: Form 11-K filed June 24, 2026, SEC EDGAR · SEC ↗
Who holds your account
Schedule C of the Form 5500 filed for plan year 2024 reports Voya, filed as “VOYA INSTITUTIONAL PLAN SERVICES”. That is the company paid to keep the account records: what is in an account, what went into it, and usually the site a participant signs in to. The trustee that holds the plan’s assets can be a different company, and this filing does not name it.
915 plans on file name Voya as their recordkeeper. Of those, the 912 with a computable fee have a median plan-paid cost of $96.20 per participant.
Participants log in at Voya ↗. 401(k) Monitor is not affiliated with Voya or with any other recordkeeper, and takes nothing for this link. It is here because that is where the account is.
| Recordkeeper | Voya |
|---|---|
| Recordkeeper EIN | 043516284 |
What does the Best Buy plan report on Form 5500?
The Best Buy plan reported $3.1B in assets and 111,163 participants for plan year 2024.
| Total plan assets | $3,127,250,470 |
|---|---|
| Participants | 111,163 |
| Plan-paid admin cost per participant | $44.06 |
How that cost compares
This plan pays $44.06 per participant. The median across plans in retail is $93.99, from the 2,177 of 2,305 whose Form 5500 yields a per-participant cost.
Best Buy Retirement Savings Plan on its Form 5500 filing: fees, providers and financials
How does Best Buy's 401(k) match compare?
Best Buy Co., Inc.'s maximum 401(k) match of 4% of pay compares with a median of 4% across the 269 companies in our data with a computable formula.
Employers worth reading next
Of the six employers below, three file in retail, two report the same recordkeeper and one vests on the same schedule.
Maximum match 3.75% of pay. Also in retail.
Maximum match 4.25% of pay. Also in retail.
Maximum match 3.5% of pay. Also in retail.
Maximum match 1.5% of pay. Same recordkeeper, Voya.
Maximum match 6% of pay. Same recordkeeper, Voya.
Maximum match 4% of pay. Vests immediately too, like Best Buy.
What can you do next?
- Read the Form 11-K on SEC EDGAR ↗
Form 11-K filed June 24, 2026, SEC EDGAR. Every match fact on this page comes from it.
- Changed jobs? Find an old 401(k) ↗
The Department of Labor's Retirement Savings Lost & Found, a free government database.
- This year's IRS contribution limits ↗
The official deferral and catch-up limits every formula operates under.
Questions this filing answers
What is Best Buy Co., Inc.'s 401(k) match?
Best Buy Co., Inc. matches 100% (dollar-for-dollar) of the first 3% of pay, then 50% of the next 2% of pay, for a maximum employer match of 4% of compensation (plan year ended December 31, 2025).
When does the Best Buy Co., Inc. 401(k) match vest?
Immediate: employer match is 100% vested when contributed.
Does Best Buy Co., Inc.'s 401(k) plan have automatic enrollment?
Not mentioned in the filing (not proof of absence).
Who is the recordkeeper for Best Buy Co., Inc.'s 401(k)?
Voya is named as the recordkeeper on the Form 5500 filed for Best Buy Retirement Savings Plan for plan year 2024. That is the company paid to keep the account records: what is in an account, what went into it, and usually the site a participant signs in to.
Source
The match formula, the vesting schedule and the enrollment rules on this page were read from one document: the Form 11-K annual report that Best Buy Co., Inc. filed with the US Securities and Exchange Commission for the plan year ended December 31, 2025. Each of those fields carries the filing sentence it was read from, expandable where the field appears. Nothing on this page was supplied by the employer to this site.
The plan assets, the participant counts, the plan-paid fees and the recordkeeper come from a different document, the plan’s DOL Form 5500 annual return, and the section that reports them links it. Comparisons with other employers are computed across the filings named in the section they appear in.
Read the filing on SEC EDGAR ↗
| Document | Form 11-K annual report |
|---|---|
| Filed with | US Securities and Exchange Commission (EDGAR) |
| Filed by | Best Buy Co., Inc. |
| SEC CIK | 764478 |
| Accession number | 0000764478-26-000032 |
| Plan | Best Buy Retirement Savings Plan |
| Period of report | December 31, 2025 |
| Filed | June 24, 2026 |
401(k) Monitor is not affiliated with Best Buy Co., Inc., with the Securities and Exchange Commission or with this plan’s recordkeeper, and publishes this page without their involvement. It republishes a public filing and says where it came from.
Cite this page
401(k) Monitor, “Best Buy Co., Inc. 401(k) plan facts”, from SEC Form 11-K accession 0000764478-26-000032, plan year ended December 31, 2025.
