Average 401(k) fees by plan size
The median 401(k) plan with 100–499 participants paid $157 per participant per year in plan-paid administrative fees; in plans with 5,000+ the median falls to $55. Computed from 57,824 Form 5500 filings, form year 2024.
Computed directly from DOL EFAST2 bulk data, not survey estimates. Plan-paid expenses only: fund expense ratios and employer-paid bills are not in these numbers. How to read your own plan’s fee
Median cost per participant, by plan size
| Plan size (participants) | Plans in cohort | 10th pctile ($) | Median ($) | 90th pctile ($) |
|---|---|---|---|---|
| 100–499 participants | 37,797 | 16.64 | 156.87 | 395.53 |
| 500–999 participants | 9,084 | 18.37 | 114.97 | 247.62 |
| 1,000–4,999 participants | 8,406 | 17.81 | 84.96 | 180.03 |
| 5,000+ participants | 2,537 | 13.94 | 54.84 | 122.45 |
Schedule H total administrative expenses divided by beginning-of-year participants, per size cohort; median and 10th/90th percentiles among plans with usable fee data. Form year 2024. Amounts in USD per participant per year.
How these numbers are computed
Plan-paid administrative expenses (Form 5500 Schedule H line 2i(5)) divided by beginning-of-year participant count, per plan. Deciles computed within each size cohort among plans with admin expenses > 0 only (54,783 of 57,824 large 401(k) plans, form year 2024). These are PLAN-PAID fees only: sponsor-paid and fund-embedded fees are invisible in Schedule H, so $0 usually means the employer pays - never 'free'.
Schedule H reports plan-paid expenses only. Fees the employer pays directly and fees embedded in fund expense ratios are invisible in these filings, so every figure here is a floor, not the all-in cost, and a low number is not “free”.
401(k) Monitor, “Median plan-paid 401(k) administrative cost per participant by plan size”, computed from DOL EFAST2 Form 5500 bulk data, form year 2024.