PepsiCo, Inc. 401(k): Fidelity, match 4% max
The PepsiCo Savings Plan · PEP · CIK 77476
Fidelity Investments is the recordkeeper named on the Form 5500 filed for this plan, the company that keeps the account records. Where to log in, and what the filing says.
Matched to this employer by sponsor name, not by an identifier stated in the filing.
Maximum employer match, as a share of pay
4%
PepsiCo, Inc. matches 50% of the first 8% of pay.
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 PepsiCo puts in, and what the plan costs
What PepsiCo put into the plan, per active participant
$3,078
PepsiCo, Inc. put $3,078 into this plan for each of its 134,629 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.
PepsiCo put in more per active participant than 54% of plans with 5,000+ participants in food, beverage and tobacco manufacturing. The middle plan in that group of 72 reported $2,804. Food, beverage and tobacco comes from business code 311400, which PepsiCo 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.
Matched to this employer by sponsor name, not by an identifier stated in the filing. This record could cover another plan of the same employer.
What this figure cannot separate: how much PepsiCo 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 131584302, plan 203 · DOL EFAST2 ↗
The $3,078 above is the Form 5500 figure for plan year 2024, and it counts every employer dollar on one line. PepsiCo, Inc. also files a Form 11-K, which states the match formula for plan year 2025: the card below reads $1,980 a year at a $49,500 salary, and the same filing states employer contributions made outside the match. That second figure is what the formula pays one worker on that salary, and not an amount either filing reports. The two figures cover different plan years and measure different things, so neither one is the other one corrected.
What PepsiCo puts in
$1,980
a year, at a $49,500 salary.
The match paragraph, word for word
“In general, for eligible employees, the Company matches 50% of employee contributions up to a limit ranging from 4% to 8% of eligible pay based on years of service, which is invested in accordance with employee elections. Company non-matching contributions are based on age and years of service regardless of employee contribution, up to a maximum of 9% of eligible employee pay. Company non-matching contributions are invested in accordance with the employee's investment elections; however, they may not be invested in the self-directed brokerage option or the PepsiCo Common Stock Fund. Certain eligible hourly employees who are participants in a Company-sponsored defined benefit plan will receive Company non-matching contributions ranging from 6% to 8% of eligible pay above a certain threshold depending on years of service. Eligible union employees may receive different Company matching and other Company contribution amounts.”
What you contribute to collect all of it
Contribute at least 8% of your pay to collect the full match.
That is $3,960 a year at a $49,500 salary, and it scales with your own.
Vesting score
57.14 out of 100
How fast the employer’s money becomes yours. Higher than 5% 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: 0%, 0%, 0%, 100%, 100%, 100%, 100%. The score is the average of those 7 readings.
Vesting, word for word
“Participants are immediately vested in their own contributions and associated investment earnings/losses. In general, participants are fully vested in the Company contributions and associated investment earnings/losses after three years of service.”
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
8th percentile
$11.58 per participant in plan-paid administrative cost, cheaper than 92% of plans with 5,000+ participants.
What is PepsiCo's 401(k) match formula?
PepsiCo's 401(k) employer match tops out at 4% of pay. One rate up to one limit is the commonest of the four shapes a match formula takes.
| Match formula | 50% of the first 8% of pay |
|---|---|
| Maximum employer match | 4% of compensation |
| Paid in company stock | No, paid in cash or per your investment elections |
| Conditions | The matched limit ranges from 4% to 8% of eligible pay based on years of service. Salaried employees actively accruing benefits (or in a waiting period to accrue benefits) under a Company-sponsored defined benefit pension plan were not eligible for Company matching or non-matching contributions; those pension benefits were frozen effective December 31, 2025 and such employees became eligible for matching and non-matching contributions as of January 1, 2026. Eligible union employees may receive different Company matching and other Company contribution amounts. |
| Other employer contribution | Company non-matching contributions based on age and years of service regardless of employee contribution, up to a maximum of 9% of eligible employee pay (may not be invested in the self-directed brokerage option or the PepsiCo Common Stock Fund) |
| Other employer contribution | Certain eligible hourly employees who are participants in a Company-sponsored defined benefit plan receive Company non-matching contributions ranging from 6% to 8% of eligible pay above a certain threshold depending on years of service |
At a $45,000 salary, contributing 8% ($3,600) earns the full employer match of $1,800 for the year.
PepsiCo appears in our match-change tracker. We keep a dated page for it: PepsiCo widened 401(k) match eligibility, effective January 1, 2026.
What the filing says, word for word
“In general, for eligible employees, the Company matches 50% of employee contributions up to a limit ranging from 4% to 8% of eligible pay based on years of service, which is invested in accordance with employee elections. Company non-matching contributions are based on age and years of service regardless of employee contribution, up to a maximum of 9% of eligible employee pay. Company non-matching contributions are invested in accordance with the employee's investment elections; however, they may not be invested in the self-directed brokerage option or the PepsiCo Common Stock Fund. Certain eligible hourly employees who are participants in a Company-sponsored defined benefit plan will receive Company non-matching contributions ranging from 6% to 8% of eligible pay above a certain threshold depending on years of service. Eligible union employees may receive different Company matching and other Company contribution amounts.”
Source: Form 11-K filed June 18, 2026, SEC EDGAR · SEC ↗
What is PepsiCo's 401(k) vesting schedule?
PepsiCo vests the employer match on a cliff schedule: nothing is yours until three years of service, then 100% at once. Leave a day early and the employer money goes back to the plan, the edge a three-year cliff creates.
| Employer match vesting | Cliff: 100% vested after 3 years of service |
|---|---|
| Your own contributions | Immediate: always 100% yours |
| Accelerated vesting | In the event the Plan is terminated, participants would become 100% vested in any Company contributions |
| Other employer contributions | Company non-matching contributions are also fully vested after three years of service (all Company contributions vest after three years) |
Vesting, word for word
“Participants are immediately vested in their own contributions and associated investment earnings/losses. In general, participants are fully vested in the Company contributions and associated investment earnings/losses after three years of service.”
Source: Form 11-K filed June 18, 2026, SEC EDGAR · SEC ↗
Who can join PepsiCo's 401(k), and is enrollment automatic?
PepsiCo enrolls new hires automatically at 4% of pay.
| Plan entry | Full-time eligible employees paid in U.S. dollars from a U.S. payroll are immediately eligible on their first day of service; part-time eligible employees after 1,000 hours of service during a 12-month period, or two consecutive 12-month periods of at least 500 hours of service |
|---|---|
| Match eligibility | Salaried employees actively accruing benefits, or in a waiting period to accrue benefits, under a Company-sponsored defined benefit pension plan were not eligible for Company matching or non-matching contributions (eligible as of January 1, 2026 following the pension freeze) |
| Excluded groups | Certain employees who are part of a collective bargaining unit and certain other employees, as defined in the Plan document |
| Automatic enrollment | Yes: default deferral 4% of pay; default investment: Target date fund based on a target date closest to the employee's 65th birthday |
Eligibility, word for word
“All eligible employees who are paid in U.S. dollars from a U.S. payroll and classified as full time, and certain other employees as defined in the Plan document, are immediately eligible on their first day of service. Part-time eligible employees who are paid in U.S. dollars from a U.S. payroll who have completed 1,000 hours of service during a 12-month period are eligible to participate in the Plan. Part-time eligible employees who have completed two consecutive 12-month periods of at least 500 hours of service are eligible to participate in the Plan. Certain employees who are part of a collective bargaining unit and certain other employees, as defined in the Plan document, are not eligible to participate in the Plan.”
Automatic enrollment, word for word
“The Plan has an automatic enrollment program for full-time and part-time hires. Under the program, eligible employees automatically make pre-tax contributions in the amount of 4% to 10% of earnings. Employees that are automatically enrolled have their contribution invested in a target date fund, based on a target date closest to the employee's 65th birthday. An employee may elect out of the automatic enrollment program at any time, as well as make changes to (or maintain) the level of contributions and may re-direct how those contributions are invested.”
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 Fidelity Investments, filed as “FIDELITY INVTS. INSTL. OPS. CO LLC”. 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.
Matched to this employer by sponsor name, not by an identifier stated in the filing. This record could cover another plan of the same employer.
Participants log in at Fidelity NetBenefits ↗. 401(k) Monitor is not affiliated with Fidelity Investments or with any other recordkeeper, and takes nothing for this link. It is here because that is where the account is.
| Recordkeeper | Fidelity Investments |
|---|---|
| Recordkeeper EIN | 042647786 |
What does the PepsiCo plan report on Form 5500?
The PepsiCo plan reported $14.9B in assets and 174,823 participants for plan year 2024.
Matched to this employer by sponsor name, not by an identifier stated in the filing. This record could cover another plan of the same employer.
| Plan named in the DOL record | The PepsiCo Savings Plan |
|---|---|
| Total plan assets | $14,936,950,700 |
| Participants | 174,823 |
| Plan-paid admin cost per participant | $11.58 |
How that cost compares
This plan pays $11.58 per participant. The median across plans in food, beverage and tobacco manufacturing is $108.05, from the 1,292 of 1,356 whose Form 5500 yields a per-participant cost.
The PepsiCo Savings Plan on its Form 5500 filing: fees, providers and financials
How does PepsiCo's 401(k) match compare?
PepsiCo, Inc.'s maximum 401(k) match of 4% of pay compares with a median of 4% across the 269 companies in our data with a computable formula.
Employers worth reading next
Of the six employers below, three file in food, beverage and tobacco manufacturing, two land near PepsiCo's maximum match and one vests on the same schedule.
Maximum match 4% of pay. Also in food, beverage and tobacco manufacturing.
Maximum match 5% of pay. Also in food, beverage and tobacco manufacturing.
Maximum match 4% of pay. Also in food, beverage and tobacco manufacturing.
Maximum match 4% of pay, level with PepsiCo.
Maximum match 4% of pay, level with PepsiCo.
Maximum match 5% of pay. Same 3-year cliff as PepsiCo.
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 PepsiCo, Inc.'s 401(k) match?
PepsiCo, Inc. matches 50% of employee contributions up to 8% of eligible pay (plan year ended December 31, 2025).
When does the PepsiCo, Inc. 401(k) match vest?
Cliff: 100% vested after 3 years of service.
Does PepsiCo, Inc.'s 401(k) plan have automatic enrollment?
Yes: default deferral 4% of pay; default investment: Target date fund based on a target date closest to the employee's 65th birthday.
Who is the recordkeeper for PepsiCo, Inc.'s 401(k)?
Fidelity Investments is named as the recordkeeper on the Form 5500 filed for The PepsiCo 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. Matched to this employer by sponsor name, not by an identifier stated in the filing. This record could cover another plan of the same employer.
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 PepsiCo, Inc. 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 | PepsiCo, Inc. |
| SEC CIK | 77476 |
| Accession number | 0000077476-26-000030 |
| Plan | The PepsiCo Savings Plan |
| Period of report | December 31, 2025 |
| Filed | June 18, 2026 |
401(k) Monitor is not affiliated with PepsiCo, Inc., 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, “PepsiCo, Inc. 401(k) plan facts”, from SEC Form 11-K accession 0000077476-26-000030, plan year ended December 31, 2025.
