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Financial well-being.

Live for today. Prepare for tomorrow.

benefits guide.

Focused on your well-being.

Support for you and your loved ones.

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Financial well-being centers on finding the healthy balance between living for today while preparing financially for tomorrow. Best Buy offers a variety of resources to help you identify and manage your financial needs, from savings and retirement to emergency funds and discounts.

401(k) Retirement Savings Plan

You are immediately eligible to join the 401(k) Retirement Savings Plan. You may save between one and 50 percent of your eligible pay,* up to the annual IRS dollar limit.**

The plan offers great features, including:

  • Before and After-Tax Savings Options—You may contribute to a traditional 401(k) savings account on a before-tax basis, a Roth 401(k) savings account on an after-tax basis or a combination of both.
  • Company Match—After you’ve been employed for one year, Best Buy will contribute one dollar into your account for every one dollar you contribute to the Plan, up to the first three percent of your eligible pay, and an additional fifty cents for every dollar up to the next two percent of your eligible pay.* Company match occurs each pay period and is allowed on the first $290,000 of base salary earned in a calendar year.** For this reason, it is important to consider the rate at which you contribute so you do not reach your IRS contribution limit before the end of the year or stop contributing before you reach $290,000 in base pay, whichever comes first.
  • Vesting—You’re always 100 percent vested, which means you own all the money from your own contributions, company matching contributions, rollover contributions and investment earnings.
  • Choice of Investments—A variety of investment options help you create a portfolio that’s right for you. You may choose to mix and manage your own portfolio by selecting from Best Buy’s many investment options or you may invest in the Target Date funds. A Target Date fund includes investments from different asset classes and is intended to provide diversification via a single Target Date fund where you select the date closest to the year you plan to retire. The asset allocation of these funds automatically becomes more conservative over time as the retirement date draws closer. For details on investment options, visit the 401(k) Retirement Savings Plan Website and go to Investments & Research > Fund Performance.
  • Financial Wellness Experience—A personalized and guided experience gives you a comprehensive view of your finances, helping you to identify your financial priorities and take meaningful actions.
  • Advisory Services—If you participate in the Best Buy 401(k) Savings Plan, Voya Retirement Advisors (VRA), in partnership with Financial Engines, can provide unbiased and objective help managing your 401(k) account if you opt to receive such services. You can choose to work with Online Advice at no additional cost or let VRA do the work for you for a fee. Those designated as Section 16 Officers are not eligible for this service if they choose to invest in Company stock within the 401(k) Savings Plan.***

The Voya Retire mobile app is a fast and easy way to access your retirement account, manage your savings and evaluate whether you’re on track toward reaching your goals.

*Any bonus you receive is not included in your eligible pay. Also, if you elect to defer salary through the Deferred Compensation Plan (DCP), your 401(k) deferral is taken after your pay has been reduced by the DCP deduction (bonus and STI deferrals do not apply); therefore, you will need to adjust your 401(k) deferral rate accordingly. See the Summary Plan Description for full details.

**For current contribution limits, visit www.voya.com/IRSlimits.

***Advisory Services is provided by Voya Retirement Advisors, LLC (VRA). For more information, please read the Voya Retirement Advisors Disclosure Statement, Advisory Services Agreement and your Plan’s Fact Sheet. These documents may be viewed online by accessing the advisory services link(s), through the Plan website. You may also request these from a Voya Investment Advisor Representative by calling the Best Buy Retirement Savings Plan Support Center at 1-855-BBY-Plan (1-855-229-7526). Financial Engines Advisors®, LLC acts as a sub advisor for Voya Retirement Advisors, LLC. Financial Engine Advisors, LLC (FEA) is a federally registered investment advisor and wholly owned subsidiary of Financial Engines, Inc. Neither VRA nor FEA provides tax or legal advice. If you need tax advice, consult your accountant, or if you need legal advice, consult your lawyer. Voya Retirement Advisors does not guarantee results, and past performance is no guarantee of future results. Financial Engines® is a registered trademark of Financial Engines, Inc. All other marks are the exclusive property of their respective owners.

Savings and loan opportunities

Best Buy provides you with a unique opportunity to build up your savings or get emergency funds through Wings Financial.

  • Open a Savings Builder account with direct deposit from your Best Buy paycheck, and Wings will fund the first $5 in your account, and you can earn an additional $100 deposit by completing six short, online financial education courses. Plus, you’ll be entered into a drawing to win one of four monthly $250 deposits exclusive to Best Buy members.
  • Wings Financial offers Best Buy employees the opportunity to obtain a $1,000 Quick Loan, which is not based on your credit score and offers a 12-month repayment period.

Employee discount

The Best Buy employee discount enables you to purchase most products and services at Best Buy retail stores and BestBuy.com at five percent above cost. Discounted services may have tax implications. You are eligible after 30 days of employment. Between Nov. 20 and Dec. 31, all employees are eligible regardless of their hire date.

Buy Best Buy stock at a discount

The Employee Stock Purchase Plan (ESPP) lets you buy Best Buy stock at a five percent discount. Contribute up to 20 percent of your after-tax pay through automatic payroll deductions during each six-month offering period. At the end of six months, your stock purchase is made, and you own part of the company.

All employees are eligible to participate in the ESPP after 60 days of continuous service. Once eligible, you can enroll in the ESPP two times a year, in March and September.

Financial help in case of disaster

Natural disasters such as hurricanes, tornadoes or wildfires can inflict serious damage in the blink of an eye. Best Buy founder Dick Schulze has established a fund to help employees experiencing hardship as a result. If you have been employed by Best Buy for at least one year and are impacted by a federally-declared natural disaster, you may be eligible to receive financial support from The Richard M. Schulze Family Foundation Employee Disaster Relief Fund.

Financial help for personal events

The Best Buy HOPE Fund was created in partnership with the Richard M. Schulze Family Foundation to help employees facing financial hardship due to unforeseen personal events beyond their control. Some examples could include medical or mental health bills not covered by insurance, domestic abuse, funerals, damage to personal property, and more. Applicants with at least one continuous year of service may receive up to $2,500 in non-taxable grants over a 12-month period for eligible expenses.

Tax savings on commuting costs

The pre-tax Commuter Benefits Program allows you to set aside pre-tax payroll deductions to pay for qualified workplace mass transit expenses, such as bus, subway or vanpool fares and even certain parking expenses. It also includes expenses for a pass, token, farecard or similar item.

Electronic payment for payday

Electronic payment can make payday less stressful and give you greater flexibility for managing your expenses. The Wisely Paycard works similarly to a reloadable, prepaid credit or debit card. You can use it in stores and online wherever Visa and Mastercard are accepted.

  • Send your full paycheck amounts to the paycard or split it however you want along with direct deposit to other checking and savings accounts.
  • Opt in to early direct deposit to get your pay up to two days early*.
  • Load funds or deposit checks from multiple sources, such as your tax refund, government benefits or a second job.
  • Request additional cards for friends and family members, with separate balances.
  • Pay no fees for monthly service, minimum balance or overdrafts.

*Best Buy’s payday is Friday. Early deposits are made by ADP and are not guaranteed.

Savings on property and auto insurance

Gain access to special savings on Auto, Home and Renters Insurance. You can request free quotes at any time from the following trusted names: Liberty Mutual Insurance, Farmers GroupSelect and Travelers. You can also save on coverage for other valuable items. Availability, coverage and costs will vary. Payments are made via direct billing with your chosen carrier.

Savings on insurance for your pet

Protect your pet and keep your costs down, too, by enrolling in Nationwide Pet Insurance. Save up to 70 percent on veterinary bills for conditions that aren’t pre-existing. You can enroll at any time, and rates vary by pet. Payments are made via direct billing with Nationwide

Confidential support for financial matters

Life Solutions, the Best Buy Employee Assistance Program (EAP), offers confidential support and resources to help you handle whatever life throws your way. It is available 24/7 at no cost to all Best Buy employees and everyone living in their household.

  • Call to obtain impartial guidance from certified public accountants and financial planners regarding managing your finances, including budgeting, debt consolidation and more.
  • The Working Advantage program provides discounts and deals on travel, entertainment and shopping, including Zebit, where you receive a promotional offer and an interest-free line of credit through their online shopping experience.
  • Find articles, podcasts, videos and interactive tools related to financial topics, such as loan calculators, budget plans, home ownership, estate planning, debt management, and more. Delegate your to-do list or find reputable referrals for local resources, including assistance with food or housing needs, or anything else related to your financial well-being.
  • Visit guidanceresources.com (use Web ID: BBYLife) or call 1-800-807-1530.