Industries › Transportation and warehousing
Industry · Form 5500 business code 482110
Rail Transportation: retirement plans
Plans whose sponsor entered this principal business activity code on Form 5500.
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. The business code is chosen by the filer from the list in the Form 5500 instructions.
65 retirement plans in rail transportation with 100 or more participants filed Form 5500 for plan year 2024 (50 defined contribution, 15 defined benefit). All Form 5500 pension filers in the group reported 237,465 participant records and $29.1B in net assets.
The median defined contribution plan held $59,293 per participant, above the national median of $53,031, and its employer put in $1,787 per active participant (national: $2,174). Among plans reporting Schedule C compensation the median was $96.92 per participant against $123 nationally.
Employers contributed $228M and participants $837M during the year, and the plans paid out $2.25B in benefits.
In 2009 the same group numbered 78 plans with $10.5B; by 2024 it was 65 plans (down 17%) and $29.1B (up 176%). From plan year 2023 the 100-participant line counts participants with account balances, which moved many plans to the short form.
Medians compared with all US plans
| Median plan, plan year 2024 | Industry: DC | US: DC | Industry: DB | US: DB |
|---|---|---|---|---|
| Net assets per participant | $59,293 | $53,031 | $74,493 | $86,234 |
| Employer contributions per active participant | $1,787 | $2,174 | $7,207 | $10,244 |
| Schedule C compensation per participant | $96.92 | $123 | $453 | $344 |
| Schedule C compensation, share of net assets | 0.18% | 0.26% | 0.31% | 0.42% |
| Administrative expenses per participant | $91.07 | $116 | $568 | $527 |
Medians across plans with 100 or more participants (50 DC and 15 DB plans with a Schedule H here). Fee medians cover plans reporting an amount. DC: defined contribution, such as 401(k) and 403(b). DB: defined benefit pension.
Distribution of DC plans
| Measure | 25th percentile | Median | 75th percentile | Plans |
|---|---|---|---|---|
| Net assets per participant | $42,773 | $59,293 | $96,735 | 50 |
| Employer contributions per active participant | $709 | $1,787 | $2,959 | 48 |
| Schedule C compensation per participant | $42.04 | $96.92 | $169 | 48 |
| Administrative expenses per participant | $40.91 | $91.07 | $158 | 50 |
Trend by plan year
| Plan year | Plans 100+ | Participants | Net assets | Employer contributions | Participant contributions | Median DC assets / participant | Median DC Sch. C / participant |
|---|---|---|---|---|---|---|---|
| 2024 | 65 | 237,465 | $29.1B | $228M | $837M | $59,293 | $96.92 |
| 2023 | 65 | 217,001 | $22.3B | $168M | $752M | $52,060 | $95.80 |
| 2022 | 72 | 213,610 | $20.2B | $170M | $660M | $42,589 | $95.54 |
| 2021 | 73 | 216,008 | $25.0B | $147M | $634M | $51,655 | $109 |
| 2020 | 72 | 220,610 | $22.6B | $144M | $610M | $49,016 | $87.38 |
| 2019 | 73 | 228,233 | $20.8B | $167M | $632M | $43,349 | $69.48 |
| 2018 | 71 | 231,360 | $17.9B | $158M | $625M | $38,887 | $48.16 |
| 2017 | 72 | 240,028 | $19.0B | $157M | $574M | $42,102 | $75.54 |
| 2016 | 76 | 249,148 | $16.4B | $279M | $544M | $35,969 | $54.83 |
| 2015 | 74 | 258,924 | $15.5B | $253M | $589M | $32,438 | $41.69 |
| 2014 | 71 | 254,003 | $16.6B | $335M | $543M | $37,905 | $31.49 |
| 2013 | 72 | 238,957 | $15.0B | $345M | $471M | $36,875 | $14.86 |
| 2012 | 73 | 238,951 | $12.9B | $381M | $455M | $28,180 | $22.50 |
| 2011 | 76 | 240,816 | $12.0B | $402M | $462M | $26,454 | $31.04 |
| 2010 | 76 | 242,559 | $12.0B | $361M | $434M | $28,292 | $28.14 |
| 2009 | 78 | 251,837 | $10.5B | $435M | $430M | $23,909 | $29.25 |
Plan year is the year in which the plan year began. The drop in large plans from 2023 follows a rule change: the 100-participant line now counts participants with account balances, so many plans moved to the short form.
Provider share
Service provider organisations named most often on the Schedule C of the 65 plans on this page's list, by number of plans. A plan usually names several providers.
Largest plans
The 40 largest by participants of 65 plans with a page on this site.
| Plan | Sponsor | State | Type | Participants | Net assets | Per participant | Employer / active | Sch. C / participant |
|---|---|---|---|---|---|---|---|---|
| BNSF Railway Company Non-Salaried Employees 401(k) Retirement Plan | BNSF Railway Company | TX | DC | 33,118 | $4.79B | $144,509 | $456 | $10.01 |
| Union Pacific Agreement Employee 401(k) Retirement Thrift Plan | Union Pacific Railroad Company | NE | DC | 32,031 | $2.39B | $74,609 | $52 | $54.23 |
| CSX Corporation Capital Builder Plan | CSX Corporation | FL | DC | 22,902 | $1.54B | $67,078 | $366 | $120 |
| Amtrak's Retirement Savings Plan for Agreement Employees | National Railroad Passenger Corporation | DC | DC | 21,445 | $974M | $45,408 | $0 | $42.94 |
| Pension Plan for Salaried Employees of Union Pacific Corporation & Affiliates | Union Pacific Corporation | NE | DB | 18,452 | $4.05B | $219,647 | — | — |
| Burlington Northern Santa Fe Retirement Plan | Burlington Northern Santa Fe, LLC | TX | DB | 15,175 | $3.06B | $201,705 | — | $74.90 |
| Burlington Northern Santa Fe Investment and Retirement Plan | Burlington Northern Santa Fe, LLC | TX | DC | 8,550 | $2.54B | $297,507 | $8,285 | $7.02 |
| Union Pacific Corporation Thrift Plan | Union Pacific Corporation | NE | DC | 8,460 | $2.30B | $272,391 | $5,239 | $119 |
| Canadian National Railway Company Savings Plan for U.S. Operations | Grand Trunk Corporation | IL | DC | 8,142 | $767M | $94,239 | $1,449 | $49.44 |
| Retirement Income Plan for the Employees of National Railroad Passenger Corporation | National Railroad Passenger Corporation | DC | DB | 5,854 | $340M | $58,094 | — | $137 |
| Brotherhood of Locomotive Engineers 401(k) Savings Employees of CSX Transportation Inc. | General Committee of Adjustment for the Lines, Csx-Western Lines, Csx- | NY | DC | 5,767 | $903M | $156,566 | $2,993 | $136 |
| CPKC 401(k) Savings Plan | Soo Line Railroad Company | MN | DC | 5,584 | $537M | $96,081 | $1,818 | $81.66 |
| CSX Corporation 401(k) Plan | CSX Corporation | FL | DC | 5,563 | $1.54B | $276,904 | $4,645 | $367 |
| National Railroad Passenger Corporation Savings Plan | National Railroad Passenger Corporation | DC | DC | 5,478 | $916M | $167,157 | $8,281 | $49.09 |
| Watco Companies, L.L.C. 401(k) Plan | Watco Companies, L.L.C. | KS | DC | 4,853 | $188M | $38,693 | $1,408 | $83.36 |
| Genesee & Wyoming Inc. 401(k) Savings Plan | Genesee & Wyoming Inc. | NY | DC | 4,705 | $264M | $56,149 | $1,887 | $52.51 |
| Brotherhood of Locomotive Engineers and Trainmen SVGS401 for Employees of Norfolk Southern Carriers | General Committees of Adjustment | PA | DC | 3,962 | $577M | $145,605 | $2,137 | $190 |
| Supplemental Pension Plan of Consolidated Rail Corporation | Consolidated Rail Corporation | PA | DB | 3,905 | $264M | $67,699 | — | $176 |
| Brotherhood of Locomotive Engineers and Trainmen 4 for Employees of Conrail Saa | Conrail Saa/csxt Northern District General Committee of Adjustment | NY | DC | 3,471 | $19.3M | $5,573 | — | $9.52 |
| Canadian Pacific Pension Plan for U.S. Management Employees | Soo Line Railroad Company | MN | DB | 1,374 | $121M | $88,220 | $8,974 | $266 |
| Pension Plan for Employees of CN U.S. Subsidiaries | Grand Trunk Corporation | IL | DB | 1,325 | $72.7M | $54,849 | — | — |
| Association of American Railroads Pension Plan | Association of American Railroads | DC | DB | 1,286 | $79.2M | $61,616 | $2,837 | $453 |
| Merged Utu and Greenbrier Pension Plan | CSX Transportation, Inc. | FL | DB | 1,278 | $95.1M | $74,385 | — | — |
| Brotherhood of Locomotive Engineers and Trainmen Long Island Pension Fund | Board of Trustees | NY | DB | 1,163 | $88.0M | $75,700 | $7,207 | $752 |
| Consolidated Rail Corporation Agreement Employees' Savings Plan | Consolidated Rail Corporation | PA | DC | 921 | $54.5M | $59,217 | $118 | $90.22 |
| The Broe Group 401(k) Retirement Savings Plan | Broe Management Company, LLC D/b/a/ the Broe Group | CO | DC | 853 | $50.3M | $58,979 | $2,500 | $141 |
| LX Pantos USA, Inc. Retirement Plan and Trust | LX Pantos USA, Inc. | NJ | DC | 775 | $10.5M | $13,514 | $1,492 | $28.56 |
| LX Pantos USA, Inc. Retirement Plan and Trust | LX Pantos USA, Inc. | NJ | DC | 775 | $10.5M | $13,514 | $1,492 | $28.56 |
| Florida East Coast Industries, LLC Salary Deferral Plan | Florida East Coast Industries, LLC | FL | DC | 749 | $47.2M | $63,061 | $3,199 | $32.95 |
| Bessemer Non-Contributory Pension Plan | Bessemer & Lake Erie Railroad Company | IL | DB | 727 | $54.8M | $75,378 | — | — |
| Econo-Rail 401(k) & Profit Sharing Plan | Trans-Global Solutions, Inc. | TX | DC | 586 | $11.2M | $19,070 | $524 | $78.21 |
| Indiana Harbor Belt Railroad Company Agreement Employees' Savings Plan | Indiana Harbor Belt Railroad Company | IN | DC | 584 | $28.5M | $48,759 | $41 | $87.18 |
| Florida East Coast Railway, LLC Hourly Deferral Plan | Florida East Coast Railway, LLC | FL | DC | 538 | $12.5M | $23,316 | $130 | $31.65 |
| SRTV Holdings LLC 401(k) Program | SRTV Holdings LLC | FL | DC | 529 | $23.1M | $43,643 | $1,748 | $126 |
| Wheeling Corporation Employees' Retirement Plan | The Wheeling Corporation | CT | DC | 496 | $42.6M | $85,952 | $2,061 | $268 |
| Transitamerica Services, Inc. 401(k) Plan - Union | Transitamerica Services, Inc. | CA | DC | 462 | $20.1M | $43,446 | — | $88.85 |
| Intermodal Collectively Bargained Pension Plan | Budco Group, Inc. | OH | DC | 444 | $3.6M | $8,049 | $710 | $5.35 |
| The Belt Railway Company of Chicago 401(k) for Collective Bargaining Employees | The Belt Railway Company of Chicago | IL | DC | 423 | $21.4M | $50,617 | $677 | $3.61 |
| Herzog Transit Services, Inc. 401(k) Plan - Union | Herzog Transit Services, Inc. | TX | DC | 387 | $14.3M | $36,922 | $2,426 | $86.01 |
| Port Terminal Railroad Association Thrift Plan | Port Terminal Railroad Association | TX | DC | 347 | $20.6M | $59,369 | $466 | — |
By plan size
By state
Questions and answers
How many retirement plans are there in rail transportation?
65 plans with 100 or more participants filed Form 5500 for plan year 2024, out of 80 pension plans on the full form. Smaller plans file Form 5500-SF and are counted separately where shown.
What is the typical 401(k) balance in rail transportation?
The median defined contribution plan reported $59,293 in net assets per participant (middle half of plans: $42,773 to $96,735); nationally it was $53,031. This is a plan-level average that includes former employees, not a typical person's balance.
What do employers contribute in rail transportation?
The median defined contribution plan received $1,787 in employer contributions per active participant, against $2,174 nationally. Plans with no employer contribution are included at zero.
What are average 401(k) fees in rail transportation?
Among defined contribution plans that report any Schedule C compensation, the median was $96.92 per participant and 0.18% of net assets (nationally $123 and 0.26%). Schedule C leaves out fund expense ratios and fees the employer pays, so it understates total cost.
Where does this come from?
Form 5500 annual reports in the EBSA research files, with filings received through 24 Aug 2026. Medians are computed by this site across plans with 100 or more participants.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files, public domain, with filings received through 24 Aug 2026. Totals count every pension plan on the full form; medians and the plan list cover plans with 100 or more participants. See the methodology.