Retirement Plan Specialist Salary

For Retirement Plan Specialists, yearly average wages total $49K annually. With bonuses occasionally running north of $8K, profit sharing proceeds sometimes surpassing $5K, and a few commissions as high as $19K, total income for Retirement Plan Specialists can range between $36K and $74K according to individual performance. Career duration is the biggest factor affecting pay for this group, followed by geography. Female Retirement Plan Specialists are more common than men among those who completed the survey; more than half (66 percent) are women. Job satisfaction for Retirement Plan Specialists is high. Most enjoy medical while more than half get dental coverage. Vision coverage is also available to a majority. This report is based on responses to the PayScale salary survey.

$35,930 - $73,960
(Median)
$36K
$49K
$74K
MEDIAN: $49,326
10%
50%
90%

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$14.52 - $26.14
(Median)
$15
$20
$26
MEDIAN: $19.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$25K$50K$75K
Salary
$35,930 - $73,960  
   
Bonus
$0.00 - $8,185  
Profit Sharing
$795 - $5,006  
Commission
$1,030 - $19,392  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$35,728 - $74,051  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 323
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$14$28$42
Hourly Rate
$14.52 - $26.14  
   
Overtime
$20.03 - $40.24  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$28K$56K$84K
Bonus
$0.00 - $8,185  
   
Commission
$1,030 - $19,392  
Profit Sharing
$795 - $5,006  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$35,728 - $74,051  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 75
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Job Description for Retirement Plan Specialist

Retirement plan specialists are in charge of providing effective advice on plan options regarding retirement for individuals. They are responsible for providing sound financial-planning programs to interested parties. In addition, retirement plan specialists develop strong business relationships with individuals who need retirement planning advice, provide forms to customers, and guide people through the entire retirement financing process. These specialists also suggest new ideas for product and service development within their company, as well as research financial issues and recommend new retirement program options.

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Retirement Plan Specialist Tasks

  • Reconcile employee accounts and brokerage summary statements.
  • Determine eligibility for benefits, calculate benefits and payments.
  • Prepare, submit and maintain employee benefit records and documents.
  • Administer employee pension and savings plans, working with plan carriers.
  • Ensure compliance to plan provisions and federal regulations.

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Popular Skills for Retirement Plan Specialist


Retirement Plan Specialists generally report applying a varied skill set to their work. Most notably, skills in Retirement Plan Administration, 401k Plan Administration, Microsoft Excel, and Windows Operating System General Use are correlated to pay that is above average. Skills that seem to negatively impact pay include Microsoft Office, Microsoft Word, and Windows Operating System General Use. Most people skilled in Microsoft Excel are similarly competent in Microsoft Office.

Pay by Experience Level for Retirement Plan Specialist

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience seems to be a major factor in determining the incomes of Retirement Plan Specialists. Relatively untried employees who have less than five years' experience make $42K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $52K. After working for 10 to 20 years, Retirement Plan Specialists make a median salary of $56K. Seasoned veterans with 20 years under their belts enjoy a median income of $68K.

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Experience Affects Retirement Plan Specialist Salaries




National Average
$49,000


Skills That Affect Retirement Plan Specialist Salaries

Retirement Plan Administration
up arrow 1%

401k Plan Administration
0%

National Average
$49,000

Microsoft Excel
up arrow 3%

Microsoft Word
up arrow 3%

Windows Operating System General Use
up arrow 3%

Microsoft Office
up arrow 4%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 95 votes.

Gender

Female
66 %
Male
34 %

Years of Experience

Less than 1 year
3%
1-4 years
33%
5-9 years
25%
10-19 years
28%
20 years or more
11%

Common Health Benefits

medical benefits Medical: 81% dental benefits Dental: 69%
vision benefits Vision: 58% employee benefits None: 15%
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