NAICS 623 Retirement Plan Benchmarks

Industry benchmarks aggregated by NAICS classification. Sourced from 6,419 Form 5500 filings for plan year 2024.

Headline numbers (2024)

Plans: 6,419
Total assets: $33.5B
Total participants: 3,008,217
Median expense ratio: 0.37%
Median employer contribution per active participant: $697
Median account balance: $13,447
3-year asset growth (2022–2024): +14.6%

Expense ratio distribution

25th percentile: 0.16%
Median: 0.37%
75th percentile: 0.69%

Where the fees go (average mix)

Admin / Recordkeeping: 52.9%
Investment Management: 39.8%
Audit: 3.9%
Legal: 0.3%

Employer contribution generosity

Median per active participant: $697
Plans with $0 employer match: —

3-year trend

Year	Plans	Assets	Participants	Median fee	Median employer $
2022	6,833	$29.2B	3,073,478	0.57%	—
2023	6,870	$32.6B	3,087,975	0.37%	—
2024	6,419	$33.5B	3,008,217	0.37%	$697

Methodology

All metrics are calculated from U.S. Department of Labor Form 5500 annual filings. The slice "NAICS 623" is served from the accepted-generation projection 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.