Best Buy 401(k) Plan

Best Buy offers an employer match through their 401(k) plan. The latest filing shows $65.3M in employer contributions versus $139.5M in employee deferrals (a 47% ratio), consistent with a competitive match program. The exact match formula may vary by plan and employment status. Contact Best Buy HR or your plan administrator for the specific match formula applicable to your situation.

You can access your Best Buy 401(k) account through the plan provider's participant portal. The plan serves 84,289 active participants. If you're a current or former employee, use the login link above or contact the plan administrator at the phone number listed on this page. First-time users will need to register using their Social Security number and date of birth.

For 2026, Best Buy 401(k) participants can contribute up to $24,500 in employee deferrals. Participants aged 50+ can contribute an additional $8,000 in catch-up contributions (total $32,500). Those aged 60-63 can make super catch-up contributions of $11,250 (total $35,750). Currently, Best Buy participants contribute an average of $1,655 per year in employee deferrals. Employer contributions are separate from these limits.

Many Best Buy 401(k) plans offer loan provisions. As of the latest filing, Best Buy participants had $1.5M in outstanding loans. The IRS limits 401(k) loans to the lesser of $50,000 or 50% of your vested balance. With an average account balance of $37K in the Best Buy plan, the maximum potential loan amount for a fully vested participant would vary accordingly. Check with your plan administrator for specific loan terms.

When you leave Best Buy, you have several options for your 401(k): keep it in the plan (if the balance is over $7,000), roll it over to a new employer's plan, roll it to an IRA, or take a cash distribution (subject to taxes and potential penalties). In the most recent filing year, the plan processed $314.6M in distributions to departing or retired participants. Employer match contributions may be subject to a vesting schedule.

According to the most recent Form 5500 filing, the Best Buy 401(k) plan has 84,289 active participants managing $3.1B in plan assets. The average account balance is $37K per participant, and the plan was originally established on N/A.

Many major employers, including Best Buy, offer both traditional pre-tax and Roth after-tax 401(k) contribution options. Given that Best Buy participants average $1,655 in annual deferrals, choosing between Roth and traditional depends on whether you expect your tax bracket to be higher or lower in retirement. Contact the Best Buy plan administrator for availability.

The Best Buy 401(k) plan typically offers a range of investment options including target-date funds, index funds, actively managed funds, and potentially company stock. The plan generated $591.8M in total investment income during the last filing year. Log into your account to see current investment options and performance.

Best Buy (BBY) may offer company stock as an investment option within the 401(k) plan. Be mindful of concentration risk — financial advisors typically recommend limiting company stock to no more than 10-15% of your portfolio, especially given that your employment income already depends on Best Buy's performance.