Best Buy 401(k) Plan

Officially: BEST BUY RETIREMENT SAVINGS PLAN

The Best Buy Retirement Savings Plan is a large single-employer 401(k) plan sponsored by Best Buy Enterprise Services, Inc. As of the end of the 2024 plan year, the plan covered 108,948 total participants and held 3,127,250,470 dollars in net assets. Voya Financial serves as the plan's recordkeeper and trustee, with Galliard Capital Management, State Street Global Advisors, and MFS among the investment managers. The plan includes a Best Buy company stock fund that was converted to an ESOP component effective September 19, 2024, and absorbed the Current Health, Inc. 401(k) Plan through a merger on January 1, 2024.

Participants: 111,163 Plan assets: $3,127,250,470 Plan number: 002 Form 5500 plan year: 2024 Last verified: May 28, 2026 View Form 5500
Employer match
100% on the first 3% and 50% on the next 2% of eligible pay
Investment options
25
funds in the lineup
Auto-enrollment
Not specified

By Zac Murphy, CFA charterholder and CFP professional. Published May 28, 2026. Verified against Form 5500 plan year 2024.

Build your allocation
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Answer 13 quick questions to find your risk profile and see which of five sample allocations fits.

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Fund lineup

Fund Asset Class Type
SSGA Government Money Market Fund Money Market Active
Best Buy Co., Inc. Common Stock Company Stock Other
Active U.S. Small/Mid Cap Equity Fund - DFA U.S. Targeted Value I US Small Cap Active
Active U.S. Small/Mid Cap Equity Fund - Allspring Discovery CIT E1 US Small Cap Active
MFS International Equity Fund - Class 3A International Equity Active
Prudential Core Plus Bond Fund US Bonds Active
State Street Global All Cap Equity Ex U.S. Index Fund - Class II International Equity Index
State Street Russell Small/Mid Cap Index Fund Class II US Small Cap Index
State Street S&P 500 Index Fund - Class II US Large Cap Index
State Street U.S. Bond Index SL Series Fund - Class XIV US Bonds Index
State Street Target Retirement SL Fund - Class V Target-date Other
State Street Target Retirement 2020 SL Fund - Class V Target-date Other
State Street Target Retirement 2025 SL Fund - Class V Target-date Other
State Street Target Retirement 2030 SL Fund - Class V Target-date Other
State Street Target Retirement 2035 SL Fund - Class V Target-date Other
State Street Target Retirement 2040 SL Fund - Class V Target-date Other
State Street Target Retirement 2045 SL Fund - Class V Target-date Other
State Street Target Retirement 2050 SL Fund - Class V Target-date Other
State Street Target Retirement 2055 SL Fund - Class V Target-date Other
State Street Target Retirement 2060 SL Fund - Class V Target-date Other
State Street Target Retirement 2065 SL Fund - Class V Target-date Other
Galliard Intermediate Core Fund A Stable Value Other
Galliard Intermediate Core Fund L Stable Value Other
Galliard Short Core Fund F Stable Value Other
Short-Term Investment Fund II Money Market Other

Why our allocations use only index funds

The actively managed funds in this plan cost more per year than the plan's index funds, which run roughly 0.02% to 0.06%. Decades of research on long-term active fund performance do not support reliable outperformance net of fees, which is why the allocation ideas below may consider using only the low-cost index options.

Employer match

Match summary
100% on the first 3% and 50% on the next 2% of eligible pay
Match cap 100% of pay
Effective match rate 4%
Vesting Participants are immediately 100% vested in both their own contributions and the safe harbor matching contributions.
Waiting period Employees may participate after reaching age 18 with no minimum service period for elective deferrals; employer matching
$
Contribute this much to capture the full match
100% of your eligible pay, every paycheck.

100% on the first 3% and 50% on the next 2% of eligible pay Contributing less than 100% of your eligible pay leaves part of Best Buy Co., Inc.'s match unclaimed.

What the match is worth at your pay After 1 year of service, contributing 100%
Annual pay Your contribution Employer match Total to 401(k)

Estimates assume a constant salary and the match formula shown above. Your actual match depends on your plan's exact terms.

The cost of contributing only --%

On a $60,000 salary, contributing just half the match threshold would leave about -- in employer match unclaimed each year. Invested over 20 years at a hypothetical 7% annual return, that forgone match could have grown to roughly -- (a hypothetical illustration, not a projection). The match is the highest-return contribution you will make all year.

Sources

  • Plan metadata (employer, participants, assets, plan year): Form 5500 annual return/report, plan year 2024 -- view filing
  • Summary Plan Description (SPD) and fee disclosure (404a-5), where available from the plan administrator.

This page is for educational purposes only and does not constitute investment, tax, or legal advice, nor a recommendation to buy or sell any security. Information is drawn from public Form 5500 filings and plan documents and may be incomplete or out of date. You may consider consulting a qualified professional and confirming all details with your plan administrator before making decisions. Waterfall Planning is not affiliated with Best Buy Co., Inc..

Find your risk profile

Answer 13 questions to see which allocation fits your situation.

Question 1 of 13

Risk assessment methodology based on Grable, J. E., & Lytton, R. H. (1999). Financial risk tolerance revisited: The development of a risk assessment instrument. Financial Services Review, 8, 163-181.

Allocation ideas

Five sample mixes built from this plan's funds, from conservative to growth. Take the assessment above to see which one fits your risk profile.

Recommended for you (based on your risk profile)
Conservative
Conservative

Capital preservation with minimal market exposure, built from bonds and stable value.

US equity   International   Bonds   Stable value
State Street U.S. Bond Index SL Series Fund - Class XIV 70%
SSGA Government Money Market Fund 30%
0% stocks / 100% bonds
Recommended for you (based on your risk profile)
Income & A Little Growth
Income & A Little Growth

Mostly bonds with a small stock sleeve for modest growth.

US equity   International   Bonds   Stable value
State Street U.S. Bond Index SL Series Fund - Class XIV 49%
SSGA Government Money Market Fund 21%
State Street S&P 500 Index Fund - Class II 19%
State Street Global All Cap Equity Ex U.S. Index Fund - Class II 8%
State Street Russell Small/Mid Cap Index Fund Class II 3%
30% stocks / 70% bonds
Recommended for you (based on your risk profile)
Balanced
Balanced

A classic 60/40 split of stocks and bonds.

US equity   International   Bonds   Stable value
State Street S&P 500 Index Fund - Class II 39%
State Street U.S. Bond Index SL Series Fund - Class XIV 28%
State Street Global All Cap Equity Ex U.S. Index Fund - Class II 15%
SSGA Government Money Market Fund 12%
State Street Russell Small/Mid Cap Index Fund Class II 6%
60% stocks / 40% bonds
Recommended for you (based on your risk profile)
Growth & Income
Growth & Income

Stock-heavy with a bond cushion for a long horizon.

US equity   International   Bonds   Stable value
State Street S&P 500 Index Fund - Class II 52%
State Street Global All Cap Equity Ex U.S. Index Fund - Class II 20%
State Street U.S. Bond Index SL Series Fund - Class XIV 14%
State Street Russell Small/Mid Cap Index Fund Class II 8%
SSGA Government Money Market Fund 6%
80% stocks / 20% bonds
Recommended for you (based on your risk profile)
Growth
Growth

All stocks for maximum long-term growth potential, with higher short-term volatility.

US equity   International   Bonds   Stable value
State Street S&P 500 Index Fund - Class II 65%
State Street Global All Cap Equity Ex U.S. Index Fund - Class II 25%
State Street Russell Small/Mid Cap Index Fund Class II 10%
100% stocks / 0% bonds
Stay on track

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These allocation ideas are educational illustrations built from this plan's available funds and a standard risk-tolerance assessment. They are not personalized investment advice or a recommendation, and risk tolerance is only one factor in an investment decision. You may consider consulting a qualified professional before making changes to your account.