Retirement Plan Specialist Salary

An average Retirement Plan Specialist in the United States can expect to take home roughly $50K per year. Including potential for bonuses and profit sharing — peaking near $10K and $5K, respectively — total cash payment to Retirement Plan Specialists can bottom out near $36K or peak near $78K depending on individual performance. Residence and experience level each impact pay for this group, with the former having the largest influence. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. There are more female Retirement Plan Specialists who answered the questionnaire than male, making up 65 percent. Most Retirement Plan Specialists report high levels of job satisfaction.

$36,591 - $76,332
(Median)
$37K
$50K
$76K
MEDIAN: $49,782
10%
50%
90%

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$15.50 - $28.81
(Median)
$15
$20
$29
MEDIAN: $20
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$26K$52K$78K
Salary
$36,591 - $76,332  
   
Bonus
$0.00 - $9,830  
Profit Sharing
$776 - $5,195  
Commission
$1,010 - $20,608  
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).
)
$36,464 - $77,717  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 382
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 - $28.81  
   
Overtime
$19.84 - $42.40  
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
$0.00 - $9,830  
   
Commission
$1,010 - $20,608  
Profit Sharing
$776 - $5,195  
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).
)
$36,464 - $77,717  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 88
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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 suggest that Retirement Plan Specialists put a wide range of professional skills to use. Most notably, skills in Retirement Plan Administration, Microsoft Excel, Windows Operating System General Use, and Microsoft Word are correlated to pay that is above average. Skills that seem to negatively impact pay include 401k Plan Administration and Microsoft Office. Those proficient in Microsoft Excel are, more often than not, also skilled 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 with a rich background of experience are typically rewarded with larger paychecks. 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 $59K in this role. Survey participants who have worked for more than two decades report bringing in $70K on average.

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Experience Affects Retirement Plan Specialist Salaries




National Average
$50,000


Skills That Affect Retirement Plan Specialist Salaries

Retirement Plan Administration
up arrow 2%

National Average
$50,000

Microsoft Excel
up arrow 3%

Microsoft Word
up arrow 3%

Windows Operating System General Use
up arrow 3%

Microsoft Office
up arrow 4%

401k Plan Administration
up arrow 10%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 95 votes.

Gender

Female
65 %
Male
35 %

Years of Experience

Less than 1 year
5%
1-4 years
31%
5-9 years
25%
10-19 years
29%
20 years or more
10%

Common Health Benefits

medical benefits
Medical: 81%
dental benefits
Dental: 70%
medical benefits
Vision: 59%
dental benefits
None: 14%
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