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Retirement Plan Specialist Salary

Retirement Plan Specialists in the United States pull down an average of $49K annually. Total cash incomes of Retirement Plan Specialists run from $36K to $74K, depending on bonuses that can occasionally exceed $8K, profit sharing that reaches $5K, and some commissions of nearly $19K. Career length is the biggest factor affecting pay for this group, followed by geography. Retirement Plan Specialists survey participants are largely women, dominating at 66 percent. Medical benefits are awarded to most, and a strong majority earn dental coverage. The majority of Retirement Plan Specialists claim high levels of job satisfaction. The figures in this rundown are based on the results of PayScale's salary questionnaire.

$36,432 - $73,960
(Median)
$36K
$49K
$74K
MEDIAN: $49,419
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
$36,432 - $73,960  
   
Bonus
$0.00 - $8,078  
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).
)
$36,039 - $74,032  
Country: United States | Currency: USD | Updated: 16 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
$19.94 - $40.25  
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 - $8,078  
   
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).
)
$36,039 - $74,032  
Country: United States | Currency: USD | Updated: 16 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


Survey results show that Retirement Plan Specialists use a fair number of skills. Most notably, skills in 401k Plan Administration, Retirement Plan Administration, Microsoft Word, and Microsoft Excel are correlated to pay that is above average. At the other end of the pay range are skills like Microsoft Office, Windows Operating System General Use, and Microsoft Excel. Those familiar with Microsoft Excel also tend to 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 and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. The median compensation for relatively untried workers is $43K; in the five-to-10 year group, it's higher at around $52K. Retirement Plan Specialists who work for 10 to 20 years in their occupation tend to earn about $57K. Big financial gains seem to result from working for more than two decades; veterans in this group report earning $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 Excel
up arrow 3%

Microsoft Word
up arrow 3%

Windows Operating System General Use
up arrow 4%


Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 98 votes.

Gender

Female
66 %
Male
34 %

Years of Experience

Less than 1 year
3%
1-4 years
33%
5-9 years
26%
10-19 years
29%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 82% dental benefits Dental: 70%
vision benefits Vision: 57% employee benefits None: 14%
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