Retirement Plan Specialist Salary

Average Retirement Plan Specialists in the United States make around $49K per year. In the world of Retirement Plan Specialists, overall cash earnings stretch from $36K near the bottom to $75K 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. Career length and the particular city each impact pay for this group, with the former having the largest influence. Women make up the majority of Retirement Plan Specialists (66 percent) who completed the questionnaire. A large number report receiving medical coverage from their employers and more than half collect dental insurance. Work is enjoyable for Retirement Plan Specialists, who typically claim high levels of job satisfaction. The information for this snapshot was generated by responses to the PayScale salary survey.

$35,957 - $74,191
(Median)
$36K
$49K
$74K
MEDIAN: $49,355
10%
50%
90%

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$14.80 - $26.46
(Median)
$15
$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
$35,957 - $74,191  
   
Bonus
$0.00 - $8,175  
Profit Sharing
$795 - $5,006  
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).
)
$35,907 - $74,563  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 325
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
$14.80 - $26.46  
   
Overtime
$20.03 - $40.24  
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 - $8,175  
   
Commission
$2,878 - $20,180  
Profit Sharing
$795 - $5,006  
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).
)
$35,907 - $74,563  
Country: United States | Currency: USD | Updated: 2 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


Overall, survey participants reported applying a fair number of skills to their work. 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 pay less than market rate include Microsoft Office. For most people, competency in Microsoft Excel indicates knowledge of 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, more experience generally translates to higher pay. Although individuals who have less than five years' experience earn $43K on average, people with five to 10 years benefit from a notably larger average of $52K. Retirement Plan Specialists who work for 10 to 20 years in their occupation tend to earn about $56K. Retirement Plan Specialists who have acquired more than 20 years of relevant experience earn significantly more than folks with fewer years on their resumes; the average income in this veteran group is $67K.

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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%

401k Plan Administration
0%

National Average
$49,000

Microsoft Excel
up arrow 2%

Windows Operating System General Use
up arrow 2%

Microsoft Word
up arrow 3%

Microsoft Office
up arrow 4%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 94 votes.

Gender

Female
66 %
Male
34 %

Years of Experience

Less than 1 year
3%
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: 69%
vision benefits Vision: 58% employee benefits None: 15%
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