Best Buy Retirement Savings Plan — Form 5500 plan (Best Buy Enterprise Services, Inc.)
Plain-English plan summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, Best Buy Retirement Savings Plan is a benefit plan reported by Best Buy Enterprise Services, Inc. under EIN 55-0805038 and plan number 002. The latest loaded filing year is 2023. The filing reports 112,970 participants and $2,853,415,966 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Best Buy Enterprise Services, Inc.
- EIN
- 55-0805038
- Plan number
- 002
- Plan type
- 2
- Location
- Richfield, MN
- Latest filing year
- 2023
- Participants
- 112,970
- End-of-year plan assets
- $2,853,415,966
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 112,970 | H, C | 20240701141924NAL0002911683001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $2,853,415,966
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $2,853,415,966
- Net assets (BOY)
- $2,439,207,665
Income & contributions
- Employer contributions
- $68,038,400
- Participant contributions
- $144,098,581
- Total contributions
- $217,302,928
- Total income / additions
- $650,924,605
Expenses & distributions
- Benefits paid
- $231,463,723
- Administrative expenses
- $4,768,489
- Total expenses
- $236,716,304
- Net increase / (decrease)
- $414,208,301
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Voya Institutional Plan Services | RECORD KEEPER | $2,518,154 | $0 | 2023 |
| Voya Retirement Advisors | INVEST ADVISOR | $2,111,463 | not reported in the loaded dataset | 2023 |
| Mercer (Us) Inc | CONSULTANT | $114,577 | not reported in the loaded dataset | 2023 |
| Newport Trust Company | CONSULTANT | $85,000 | not reported in the loaded dataset | 2023 |
Related Form 5500 pages
- All Form 5500 plans for Best Buy Enterprise Services, Inc.
- 2023 Form 5500 filing
- Form 5500 filings in MN
- 401(k) and benefit plan filings in Richfield, MN
- Voya Institutional Plan Services — Schedule C compensation
- Voya Retirement Advisors — Schedule C compensation
- Mercer (Us) Inc — Schedule C compensation
- Newport Trust Company — Schedule C compensation