Retirement Plan Specialist Salary

The average Retirement Plan Specialist in the United States earns approximately $54K annually. Total cash compensation to Retirement Plan Specialists approaches anywhere from $38K on the lower end to $87K on the higher end; in exceptional cases, this can include more than $12K from bonuses and upwards of $7K from profit sharing. Residence is the biggest factor affecting pay for this group, followed by career duration. Though the majority of Retirement Plan Specialists do not report high levels of job satisfaction, most are moderately content with their role. Male Retirement Plan Specialists are just a bit more common among those who completed the questionnaire than females ones, with male workers composing 52 percent of the field. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to more than half. Respondents to the PayScale salary survey provided the data for this report.

$39,411 - $82,721
$39K
$54K
$83K
MEDIAN: $53,555
10%
50%
90%

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$15.08 - $29.41
$15
$21
$29
MEDIAN: $20.67
10%
50%
90%

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$0$87K
Salary $39,411 - $82,721
Bonus $522 - $12,275
Profit Sharing $786 - $6,878
Commission $7,000
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).
)
$38,481 - $87,444
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 325
Hourly Data $0$43
Hourly Rate $15.08 - $29.41
Overtime $23.58 - $43.51
Annual Data $0$87K
Bonus $522 - $12,275
Commission $7,000
Profit Sharing $786 - $6,878
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).
)
$38,481 - $87,444
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 66

Find Out Exactly What You Should Be Paid

United States (change)

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

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

Retirement Plan Specialist Job Listings

Popular Skills for Retirement Plan Specialist


Retirement Plan Specialists report using a wide range of professional skills. Most notably, skills in Retirement Plan Administration, Oral / Verbal Communication, Microsoft Office, and Microsoft Excel are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include 401k Plan Administration, Investment Management, and Windows Operating System General Use. It is often found that people who know Microsoft Excel are also skilled in Microsoft Office.

Pay by Experience Level for Retirement Plan Specialist

Pay by Experience for a Retirement Plan Specialist has a positive trend. An entry-level Retirement Plan Specialist with less than 5 years of experience can expect to earn an average total compensation of $45,000 based on 165 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Retirement Plan Specialist with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $54,000 based on 115 salaries. An experienced Retirement Plan Specialist which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $65,000 based on 117 salaries. A Retirement Plan Specialist with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $79,000 based on 44 salaries.

Pay Difference by Location

National Average: $53,702

Larger city markers indicate a job is popular in that location.

Home to some of the best pay for Retirement Plan Specialists, St. Louis offers exceptional salaries, 46 percent above the national average. Retirement Plan Specialists can also look forward to large paychecks in cities like Los Angeles (+34 percent), Denver (+32 percent), Cleveland (+30 percent), and Chicago (+22 percent). Retirement Plan Specialists in Scottsdale make 36 percent less than the national average, proving that location is a major factor in pay. Employers pay around 23 percent less in Phoenix and 9 percent less in Boston, below-median salaries for those in this field.

Related Job Salaries

Key Stats for Retirement Plan Specialist

Gender

Female
48 %
Male
52 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 80 votes.
Less than 1 year
4%
1-4 years
32%
5-9 years
23%
10-19 years
28%
20 years or more
13%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Retirement Plan Specialist Salaries

▲47%

▲21%

▲1%

National Average
$54,000

▼16%

Skills That Affect Retirement Plan Specialist Salaries


National Average
$54,000

Oral / Verbal Communication
▼4%



Customer Service
▼7%


Pension Plan Administration
▼9%


Investment Management
▼11%

401k Plan Administration
▼16%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 80 votes.

Gender

Female
48 %
Male
52 %

Years of Experience

Less than 1 year
4%
1-4 years
32%
5-9 years
23%
10-19 years
28%
20 years or more
13%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 74%
vision benefits
Vision: 65%
no benefits
None: 11%
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