Plan Snapshot
- Plan Sponsor: Best Buy Enterprise Services, INC.
- Sponsor EIN: 550805038
- Sponsor Address: 7601 PENN AVENUE SOUTH, RICHFIELD, MN, 554233645
- Plan Type: 401(k)
- Total Participants: 83,696
- Total Assets: $3.1B
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 83,696 | $3.1B | $65.0M | $138.8M |
| 2023 | 85,980 | $2.9B | $68.0M | $144.1M |
| 2022 | 88,147 | $2.4B | $71.3M | $151.8M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| VOYA RETIREMENT ADVISORS | INVEST ADVISOR | $2,487,084 | — | $2,487,084 |
| VOYA INSTITUTIONAL PLAN SERVICES | RECORD KEEPER | $2,372,883 | — | $2,372,883 |
| MERCER (US) INC | CONSULTANT | $103,050 | — | $103,050 |
| NEWPORT TRUST COMPANY | CONSULTANT | $82,500 | — | $82,500 |
| DELOITTE & TOUCHE, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- DELOITTE & TOUCHE, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $5,045,517
- Estimated Expense Ratio: 0.161% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $4,897,885 | $2,487,084 | $137,116 | — | — |
| 2023 | $4,768,489 | $2,111,463 | $132,200 | — | — |
| 2022 | $4,445,046 | — | — | — | — |