Canadian Pacific Kansas City Limited 401(k): Principal, match vests immediately
CPKC 401(k) Savings Plan (formerly CP 401(k) Savings Plan) · CP · CIK 16875
Principal is the recordkeeper named on the Form 5500 filed for Cp 401(k) Savings Plan, the company that keeps the account records. Where to log in, and what the filing says.
The 401(k) employer match
Set by collective bargaining
Canadian Pacific Kansas City Limited's 401(k) match terms are set by collective-bargaining agreements, so the filing states no single company-wide formula.
From the Form 11-K filed June 18, 2026 ↗, covering the plan year ended December 31, 2025. Page data last updated July 28, 2026, when the Form 5500 bulk data was last refreshed. Why filings lag
On this page: what the employer actually paid in · the formula, word for word · when the money becomes yours · who can join · who holds your account · what the plan reports to the DOL · how it compares · what to do next
What CPKC puts in, and what the plan costs
What CPKC put into the plan, per active participant
$939
Canadian Pacific Kansas City Limited put $939 into this plan for each of its 3,053 active participants in plan year 2024. This is the whole employer side of the plan: matching money, profit sharing, non-elective and safe-harbor contributions, and reallocated forfeitures. The Form 5500 does not separate them, so this is what the employer put in and not the match.
CPKC put in less per active participant than 64% of plans with 1,000–4,999 participants in transportation and logistics. The middle plan in that group of 274 reported $1,370. Transportation and logistics comes from business code 482110, which CPKC entered on its own Form 5500. Sponsors pick that code themselves, so a code that does not describe what the employer does ranks the plan against the wrong companies.
What this figure cannot separate: how much CPKC pays, and how much it puts in
This is dollars, not a rate. A Form 5500 carries no payroll, so the figure reflects both how much the employer puts in and how much the employer pays: two plans running the same formula report different amounts when one pays better. Crossing the peer group with industry holds most of that difference still, and none of it disappears.
This is one plan year, not an average. A true-up, a plan merger or a one-off contribution moves a single year on its own.
Source: DOL Form 5500 for the plan year ended December 31, 2024, EIN 416009079, plan 002 · DOL EFAST2 ↗
What CPKC puts in
Not stated in the filing
Match terms are set by collective-bargaining agreements, so the filing states no single rate for all employees.
The Form 5500 for this plan reports what CPKC actually paid in: the figure and its peer comparison are above. It is the whole employer side of the plan on one line, so it answers what went in rather than what the formula promises.
Two places state the terms in full: your plan’s Summary Plan Description, which your employer must provide on request, and your recordkeeper’s site, which for this plan is Principal ↗.
What you contribute to collect all of it
Not stated in the filing
The filing does not state the contribution rate that collects the full employer contribution.
Vesting score
100 out of 100
How fast the employer’s money becomes yours. Higher than 48% of the 369 schedules we have scored.
It measures vesting speed and nothing else. It says nothing about the size of the match, what the plan charges, or the funds inside it.
Share of the employer's money that is the worker's at hire and at each of the first 6 anniversaries: 100%, 100%, 100%, 100%, 100%, 100%, 100%. The score is the average of those 7 readings.
Vesting, word for word
“Participants in the Plan are immediately vested in the value of their voluntary contributions, and rollover contributions, if any. Non-union employees (except CMQ U.S.) are immediately vested in their employer matching contributions, plus earnings and losses thereon.”
The wait before the match starts and the year-end true-up appear above when the filing states them. Neither is part of the score, and a filing that is silent on one of them is not a plan without it.
What the plan costs, against plans of its size
62nd percentile
$104.30 per participant in plan-paid administrative cost, more expensive than 62% of plans with 1,000–4,999 participants.
What is CPKC's 401(k) match formula?
CPKC's 401(k) match terms are set by collective-bargaining agreements, so the filing states no single company-wide formula. A bargained plan can run several formulas at once, one per agreement, and each states the same parts: a rate, a band of pay and a ceiling.
| Match formula | 50% of the first 6% of pay |
|---|---|
| Maximum employer match | 3% of compensation |
| Conditions | Participating union employees are eligible to receive matching contributions only if their collective bargaining agreement so provides. For CMQ U.S. non-union and union employees, the Plan provides an employer matching contribution of 2% of eligible compensation instead of the standard formula. Employees of Kansas City Southern Railway Company, formerly part of Midsouth Corporation and SouthRail Corporation, receive an employer match of 100% on the first $500 of contributions. No employee is eligible for an employer matching contribution on their catch-up contributions. |
| Other employer contribution | Employees eligible to receive an employer nonelective contribution receive an annual nonelective contribution equal to 3.5% of eligible compensation for the Plan year |
What the filing says, word for word
“The Plan provides for an employer matching contribution of 50% of the first 6% of eligible compensation that a non-union participant contributes. Participating union employees are eligible to receive matching contributions only if their collective bargaining agreement so provides. Employees eligible to receive an employer nonelective contributions receive annual nonelective contribution equal to 3.5% of eligible compensation for the Plan year. For CMQ U.S. Non-union and Union employees, the Plan provides for an employer matching contribution of 2% of eligible compensation. The employees of Kansas City Southern Railway Company, formerly part of Midsouth Corporation and SouthRail Corporation receive an employer match of 100% on first $500 of contributions. No employee is eligible for an employer matching contribution on their catch-up contributions.”
Source: Form 11-K filed June 18, 2026, SEC EDGAR, corroborated by the filing's inline-XBRL facts · SEC ↗
What is CPKC's 401(k) vesting schedule?
CPKC vests the employer match immediately: 100% is yours as soon as it is paid in. Nothing is forfeited when you leave, which is not true of the two schedules that vest over time.
| Employer match vesting | Immediate: employer match is 100% vested when contributed |
|---|---|
| Your own contributions | Immediate: always 100% yours |
| Other employer contributions | Non-union employees (except CMQ U.S.) are immediately vested in employer matching contributions. Certain unionized employees follow separate graded vesting schedules: DM&E union and all CMQ U.S. participants vest at 0% (less than one year), 33% (one to two years), 66% (two to three years), 100% (three or more years); Kansas City Southern Railway Company unionized "MidSouth Participants" vest at 0% (less than one year), 20% (one to two years), 40% (two to three years), 60% (three to four years), 80% (four to five years), 100% (five or more years). |
Vesting, word for word
“Participants in the Plan are immediately vested in the value of their voluntary contributions, and rollover contributions, if any. Non-union employees (except CMQ U.S.) are immediately vested in their employer matching contributions, plus earnings and losses thereon.”
Source: Form 11-K filed June 18, 2026, SEC EDGAR · SEC ↗
Who can join CPKC's 401(k), and is enrollment automatic?
CPKC enrolls new hires automatically at 3% of pay.
| Plan entry | Qualified employees may participate in the Plan if they have reached the age of 18 and have completed 30 days of service with the Companies. |
|---|---|
| Automatic enrollment | Yes: default deferral 3% of pay |
Eligibility, word for word
“Qualified employees may participate in the Plan if they have reached the age of 18 and have completed 30 days of service with the Companies.”
Automatic enrollment, word for word
“Eligible Plan participants are automatically enrolled at 3% of Plan eligible compensation per pay period.”
Source: Form 11-K filed June 18, 2026, SEC EDGAR · SEC ↗
Who holds your account
Schedule C of the Form 5500 filed for plan year 2024 reports Principal, filed as “PRINCIPAL LIFE INSURANCE COMPANY”. That is the company paid to keep the account records: what is in an account, what went into it, and usually the site a participant signs in to. The trustee that holds the plan’s assets can be a different company, and this filing does not name it.
5,239 plans on file name Principal as their recordkeeper. Of those, the 5,230 with a computable fee have a median plan-paid cost of $170.05 per participant.
Participants log in at Principal ↗. 401(k) Monitor is not affiliated with Principal or with any other recordkeeper, and takes nothing for this link. It is here because that is where the account is.
| Recordkeeper | Principal |
|---|---|
| Recordkeeper EIN | 420127290 |
What does the CPKC plan report on Form 5500?
The CPKC plan reported $298.7M in assets and 3,887 participants for plan year 2024.
| Total plan assets | $298,695,445 |
|---|---|
| Participants | 3,887 |
| Plan-paid admin cost per participant | $104.30 |
How that cost compares
This plan pays $104.30 per participant. The median across plans in transportation and logistics is $95.71, from the 1,843 of 1,926 whose Form 5500 yields a per-participant cost.
Read from the Form 5500 filing of Cp 401(k) Savings Plan, which has no page of its own here.
How does CPKC's 401(k) match compare?
Canadian Pacific Kansas City Limited's filing does not state a maximum 401(k) match as a share of pay. Across the 269 companies in our data that do, the median is 4% of pay.
Employers worth reading next
Of the six employers below, three file in transportation and logistics, two report the same recordkeeper and one vests on the same schedule.
Maximum match 9.3% of pay. Also in transportation and logistics.
Employer match vests immediately. Also in transportation and logistics.
Maximum match 3% of pay. Also in transportation and logistics.
Maximum match 6% of pay. Same recordkeeper, Principal.
Match vests in steps, 100% after 6 years. Same recordkeeper, Principal.
Employer match vests immediately. Vests immediately too, like CPKC.
Compare Canadian Pacific Kansas City Limited with any company, side by side
What can you do next?
- Read the Form 11-K on SEC EDGAR ↗
Form 11-K filed June 18, 2026, SEC EDGAR. Every match fact on this page comes from it.
- Changed jobs? Find an old 401(k) ↗
The Department of Labor's Retirement Savings Lost & Found, a free government database.
- This year's IRS contribution limits ↗
The official deferral and catch-up limits every formula operates under.
Questions this filing answers
What is Canadian Pacific Kansas City Limited's 401(k) match?
Canadian Pacific Kansas City Limited's match terms are set by collective bargaining agreements; the 11-K for the plan year ended December 31, 2025 does not state a single formula. Canadian Pacific Kansas City Limited's Form 5500 for plan year 2024 reports $939 of employer money per active participant. This is the whole employer side of the plan: matching money, profit sharing, non-elective and safe-harbor contributions, and reallocated forfeitures. The Form 5500 does not separate them, so this is what the employer put in and not the match.
When does the Canadian Pacific Kansas City Limited 401(k) match vest?
Immediate: employer match is 100% vested when contributed.
Does Canadian Pacific Kansas City Limited's 401(k) plan have automatic enrollment?
Yes: default deferral 3% of pay.
Who is the recordkeeper for Canadian Pacific Kansas City Limited's 401(k)?
Principal is named as the recordkeeper on the Form 5500 filed for Cp 401(k) Savings Plan for plan year 2024. That is the company paid to keep the account records: what is in an account, what went into it, and usually the site a participant signs in to.
Source
The match formula, the vesting schedule and the enrollment rules on this page were read from one document: the Form 11-K annual report that Canadian Pacific Kansas City Limited filed with the US Securities and Exchange Commission for the plan year ended December 31, 2025. Each of those fields carries the filing sentence it was read from, expandable where the field appears. Nothing on this page was supplied by the employer to this site.
The plan assets, the participant counts, the plan-paid fees and the recordkeeper come from a different document, the plan’s DOL Form 5500 annual return, and the section that reports them links it. Comparisons with other employers are computed across the filings named in the section they appear in.
Read the filing on SEC EDGAR ↗
| Document | Form 11-K annual report |
|---|---|
| Filed with | US Securities and Exchange Commission (EDGAR) |
| Filed by | Canadian Pacific Kansas City Limited |
| SEC CIK | 16875 |
| Accession number | 0000016875-26-000019 |
| Plan | CPKC 401(k) Savings Plan (formerly CP 401(k) Savings Plan) |
| Period of report | December 31, 2025 |
| Filed | June 18, 2026 |
401(k) Monitor is not affiliated with Canadian Pacific Kansas City Limited, with the Securities and Exchange Commission or with this plan’s recordkeeper, and publishes this page without their involvement. It republishes a public filing and says where it came from.
Cite this page
401(k) Monitor, “Canadian Pacific Kansas City Limited 401(k) plan facts”, from SEC Form 11-K accession 0000016875-26-000019, plan year ended December 31, 2025.
