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Retirement Plan Specialist Salary

For Retirement Plan Specialists, yearly average wages total $49K annually. Including potential for bonuses and profit sharing — peaking near $8K and $5K, respectively — total cash payment to Retirement Plan Specialists can bottom out near $36K or peak near $75K depending on individual performance. Career length is the biggest factor affecting pay for this group, followed by geography. Most Retirement Plan Specialists like their work and job satisfaction is high. Women account for the majority of Retirement Plan Specialists who responded to the questionnaire — 66 percent to be exact. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to more than half. The information for this snapshot was generated by responses to the PayScale salary survey.

$36,370 - $74,499
(Median)
$36K
$49K
$74K
MEDIAN: $49,326
10%
50%
90%

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$14.39 - $25.95
(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
$36,370 - $74,499  
   
Bonus
$0.00 - $8,030  
Profit Sharing
$795 - $5,006  
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).
)
$36,075 - $74,579  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 319
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
$14.39 - $25.95  
   
Overtime
$20.19 - $39.99  
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 - $8,030  
   
Commission
$1,030 - $19,392  
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).
)
$36,075 - $74,579  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 69

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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 Word are correlated to pay that is above average. Skills that seem to negatively impact pay include Microsoft Office, Microsoft Excel, 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.


Experience is an important factor influencing the compensation of Retirement Plan Specialists. People who have worked for fewer than five years bring home $43K on average. Median compensation in the five-to-10 year group, however, is higher at approximately $52K. Retirement Plan Specialists claiming one to two decades of experience make an estimated median of $57K. Big financial gains seem to result from working for more than two decades; veterans in this group report earning $70K on average.

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 3%

401k Plan Administration
up arrow 3%

National Average
$49,000

Microsoft Word
up arrow 3%

Windows Operating System General Use
up arrow 3%

Microsoft Excel
up arrow 4%

Microsoft Office
up arrow 4%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 102 votes.

Gender

Female
66 %
Male
34 %

Years of Experience

Less than 1 year
2%
1-4 years
32%
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: 58% employee benefits None: 14%