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Retirement Plan Specialist Salary

The average Retirement Plan Specialist in the United States earns approximately $49K annually. Including potential for bonuses and profit sharing — peaking near $8K and $5K, respectively — total cash payment to Retirement Plan Specialists can bottom out near $36K or peak near $74K depending on individual performance. Career length is the biggest factor affecting pay for this group, followed by geography. Work is enjoyable for Retirement Plan Specialists, who typically claim high levels of job satisfaction. The majority of Retirement Plan Specialists (66 percent) who took the survey are female. Medical benefits are awarded to most, and a strong majority earn dental coverage.

$36,411 - $73,549
(Median)
$36K
$49K
$74K
MEDIAN: $49,233
10%
50%
90%

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$14.43 - $25.89
(Median)
$14
$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
$36,411 - $73,549  
   
Bonus
$0.00 - $8,060  
Profit Sharing
$800 - $4,996  
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).
)
$36,146 - $73,691  
Country: United States | Currency: USD | Updated: 2 May 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
$14.43 - $25.89  
   
Overtime
$20.11 - $40.08  
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 - $8,060  
   
Commission
$1,030 - $19,392  
Profit Sharing
$800 - $4,996  
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).
)
$36,146 - $73,691  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 71

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United States (change)


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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 report using a wide range of professional skills. Most notably, skills in 401k Plan Administration, Retirement Plan Administration, Microsoft Word, and Microsoft Excel are correlated to pay that is above average. Skills that seem to negatively impact pay include Microsoft Office, Windows Operating System General Use, and Microsoft Excel. Most people who know Microsoft Excel also know Microsoft Office.

Pay by Experience Level for Retirement Plan Specialist

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


Experience is an important factor influencing the compensation of Retirement Plan Specialists. Average salaries for inexperienced employees average out to around $43K, but folks who have five to 10 years of experience earn a higher median of $52K. The average pay reported by folks with 10 to 20 years of experience is around $56K. Survey participants who have worked for more than two decades report bringing in $69K on average.

Related Job Salaries

United States (change)

Experience Affects Retirement Plan Specialist Salaries




National Average
$49,000


Skills That Affect Retirement Plan Specialist Salaries

401k Plan Administration
up arrow 3%

Retirement Plan Administration
up arrow 1%

National Average
$49,000

Microsoft Word
up arrow 3%

Microsoft Excel
up arrow 4%

Windows Operating System General Use
up arrow 4%


Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 102 votes.

Gender

Female
66 %
Male
34 %

Years of Experience

Less than 1 year
2%
1-4 years
33%
5-9 years
26%
10-19 years
28%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 82% dental benefits Dental: 70%
vision benefits Vision: 58% employee benefits None: 14%
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