NAICS 623 Retirement Plan Benchmarks

Industry benchmarks aggregated by NAICS classification. Sourced from 5,153 Form 5500 filings for plan year 2024.

Headline numbers (2024)

Plans: 5,153
Total assets: $34.2B
Total participants: 108,085
Median expense ratio: 0.51%
Median employer contribution per active participant: $666
Median account balance: $19,991
3-year asset growth (2022–2024): +28.8%

Expense ratio distribution

25th percentile: 0.23%
Median: 0.51%
75th percentile: 0.85%

Where the fees go (average mix)

Admin / Recordkeeping: 39.0%
Investment Management: 19.1%
Audit: 1.7%
Legal: 0.1%

Employer contribution generosity

Median per active participant: $666
Plans with $0 employer match: 1,685 (32.7%)

3-year trend

Year	Plans	Assets	Participants	Median fee	Median employer $
2022	4,614	$26.5B	61,450	0.60%	$617
2023	5,186	$31.4B	102,494	0.51%	$661
2024	5,153	$34.2B	108,085	0.51%	$666

Methodology

All metrics are calculated from U.S. Department of Labor Form 5500 annual filings. The slice "NAICS 623" includes 5,153 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/623.