Retirement Plan Specialists in the United States can expect wages of $52K annually on average. In the world of Retirement Plan Specialists, total cash compensation can vary between $37K and $84K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $12K and $7K, respectively. Geographic location is the biggest factor affecting pay for this group, followed by years of experience. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 56 percent. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to the larger part. The majority of workers are highly satisfied with their job.

$38,500 - $81,133
$38K
$52K
$81K
MEDIAN: $52,314
10%
50%
90%

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$15.50 - $30.21
$15
$20
$30
MEDIAN: $20.33
10%
50%
90%

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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$28K$56K$84K
Salary
$38,500 - $81,133  
   
Bonus
$502 - $11,892  
Profit Sharing
$824 - $7,047  
Commission
$9,826  
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).
)
$37,113 - $83,657  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 298
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$15$30$45
Hourly Rate
$15.50 - $30.21  
   
Overtime
$23.39 - $43.92  
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$30K$60K$90K
Bonus
$502 - $11,892  
   
Commission
$9,826  
Profit Sharing
$824 - $7,047  
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).
)
$37,113 - $83,657  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 67

Find Out Exactly What You Should Be Paid

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

  • 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.

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Popular Skills for Retirement Plan Specialist


Survey results imply that Retirement Plan Specialists put a diverse skill set to use. 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. 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.


For many Retirement Plan Specialists, experience and pay levels seem to be correlated; more years in the business generally lead to more money. Salaries of relatively inexperienced workers fall in the neighborhood of $45K, but folks who have racked up five to 10 years see a notably higher median of $55K. Retirement Plan Specialists with one to two decades of relevant experience report an average salary of approximately $66K. Retirement Plan Specialists who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $77K.

Pay Difference by Location

National Average: $52,678

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

Home to some of the best pay for Retirement Plan Specialists, Los Angeles offers exceptional salaries, 37 percent above the national average. Retirement Plan Specialists can also look forward to large paychecks in cities like Denver (+35 percent), San Diego (+33 percent), Cleveland (+33 percent), and Chicago (+28 percent). Place of residence plays a huge part in a Retirement Plan Specialist's salary, with Scottsdale Retirement Plan Specialists earning salaries that are 35 percent less than the national average. Employers also pay below the national average in Phoenix (22 percent lower) and Boston (7 percent lower).

Related Job Salaries

Key Stats for Retirement Plan Specialist

Gender

Female
56 %
Male
44 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 59 votes.
028
Less than 1 year
6%
1-4 years
29%
5-9 years
25%
10-19 years
28%
20 years or more
13%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Retirement Plan Specialist Salaries




National Average
$53,000


Skills That Affect Retirement Plan Specialist Salaries


National Average
$53,000

Oral / Verbal Communication
up arrow 2%



Customer Service
up arrow 5%


Pension Plan Administration
up arrow 7%


Investment Management
up arrow 9%

401k Plan Administration
up arrow 15%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 59 votes.

Gender

Female
56 %
Male
44 %

Years of Experience

Less than 1 year
6%
1-4 years
29%
5-9 years
25%
10-19 years
28%
20 years or more
13%

Common Health Benefits

medical benefits
Medical: 85%
dental benefits
Dental: 73%
vision benefits
Vision: 61%
dental benefits
None: 11%
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