Retirement Plan Specialist Salary

Earnings for Retirement Plan Specialists in the United States come in at around $49K per year on average. In the world of Retirement Plan Specialists, overall cash earnings stretch from $36K near the bottom to $74K near the top; these packages encompass bonuses that run close to $8K and profit sharing that can (albeit rarely) exceed $5K, along with commissions approaching $20K. Experience level and the particular city each impact pay for this group, with the former having the largest influence. Job satisfaction is high and work is enjoyable for most Retirement Plan Specialists. A large number report receiving medical coverage from their employers and the larger part collect dental insurance. Women account for the majority of Retirement Plan Specialists who responded to the questionnaire — 66 percent to be exact. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.

$35,945 - $73,700

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$14.80 - $26.46

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$25K$50K$75K
Salary
$35,945 - $73,700  
   
Bonus
$0.00 - $8,269  
Profit Sharing
$800 - $4,996  
Commission
$2,878 - $20,180  
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).
)
$36,023 - $74,148  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 328
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$14$28$42
Hourly Rate
$14.80 - $26.46  
   
Overtime
$20.03 - $40.24  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$28K$56K$84K
Bonus
$0.00 - $8,269  
   
Commission
$2,878 - $20,180  
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).
)
$36,023 - $74,148  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 77
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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 Retirement Plan Administration, 401k Plan Administration, Windows Operating System General Use, and Microsoft Excel are correlated to pay that is above average. Skills that seem to negatively impact pay include Microsoft Office and Microsoft Word. Those educated in Microsoft Excel tend to be well versed in Microsoft Office.

Pay by Experience Level for Retirement Plan Specialist

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


Retirement Plan Specialists generally obtain higher compensation for more plentiful past experience. Salaries of relatively inexperienced workers fall in the neighborhood of $43K, but folks who have racked up five to 10 years see a notably higher median of $52K. People with 10 to 20 years of experience make an average of about $56K in this role. Retirement Plan Specialists who have spent more than 20 years on the job report earning a significantly higher median of $67K.

Related Job Salaries

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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%

National Average
$49,000

401k Plan Administration
up arrow 1%

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 93 votes.

Gender

Female
66 %
Male
34 %

Years of Experience

Less than 1 year
4%
1-4 years
32%
5-9 years
25%
10-19 years
28%
20 years or more
11%

Common Health Benefits

medical benefits Medical: 81% dental benefits Dental: 70%
vision benefits Vision: 58% employee benefits None: 15%
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