NAICS 423 Retirement Plan Benchmarks

Industry benchmarks aggregated by NAICS classification. Sourced from 24,487 Form 5500 filings for plan year 2024.

Headline numbers (2024)

Plans: 24,487
Total assets: $255.5B
Total participants: 412,071
Median expense ratio: 0.38%
Median employer contribution per active participant: $2,612
Median account balance: $82,789
3-year asset growth (2022–2024): +36.4%

Expense ratio distribution

25th percentile: 0.15%
Median: 0.38%
75th percentile: 1.28%

Where the fees go (average mix)

Admin / Recordkeeping: 23.6%
Investment Management: 21.3%
Audit: 1.9%
Legal: 0.1%

Employer contribution generosity

Median per active participant: $2,612
Plans with $0 employer match: 4,716 (19.3%)

3-year trend

Year	Plans	Assets	Participants	Median fee	Median employer $
2022	22,438	$187.4B	356,221	0.42%	$2,475
2023	24,648	$230.3B	409,310	0.37%	$2,568
2024	24,487	$255.5B	412,071	0.38%	$2,612

Methodology

All metrics are calculated from U.S. Department of Labor Form 5500 annual filings. The slice "NAICS 423" includes 24,487 plans for plan year 2024. Medians use percentile_cont over reported values; zero/null values are excluded from rate-style metrics.

Citation: PlanProvider.Pro, Form 5500 Benchmarks 2024. Free for editorial use with attribution + link to https://planprovider.pro/benchmarks/industry/423.