Average Retirement Plan Specialists in the United States make around $51K per year. Total cash compensation for Retirement Plan Specialists runs from $37K to $83K depending on bonuses that can occasionally exceed $12K and profit sharing that can reach almost $7K. Location and career duration each impact pay for this group, with the former having the largest influence. For the most part, Retirement Plan Specialists enjoy their work and report high levels of job satisfaction. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to a majority. Women Retirement Plan Specialists who took the survey just slightly outnumber men.

$38,219 - $81,179
(Median)
$38K
$51K
$81K
MEDIAN: $51,371
10%
50%
90%

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$15.45 - $29.50
(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$28K$56K$84K
Salary
$38,219 - $81,179  
   
Bonus
$498.33 - $11,545  
Profit Sharing
$829 - $7,023  
Commission
$8,500  
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).
)
$37,038 - $83,304  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 287
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
$15.45 - $29.50  
   
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
$498.33 - $11,545  
   
Commission
$8,500  
Profit Sharing
$829 - $7,023  
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).
)
$37,038 - $83,304  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 65
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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


Retirement Plan Specialists generally report applying a varied skill set to their work. Most notably, skills in Retirement Plan Administration, Oral / Verbal Communication, Customer Service, 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, Windows Operating System General Use, and Investment Management. It is often found that people who know Microsoft Excel are 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.


In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. The average inexperienced worker's salary is approximately $44K, and people with five to 10 years of experience bring in more at around $54K on average. On average, Retirement Plan Specialists make $67K following one to two decades on the job. More than 20 years of experience mean a somewhat bigger median paycheck of $74K, but it's not much more than what less experienced people make.

Related Job Salaries

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Experience Affects Retirement Plan Specialist Salaries




National Average
$52,000


Skills That Affect Retirement Plan Specialist Salaries

Retirement Plan Administration
up arrow 3%

Oral / Verbal Communication
0%

National Average
$52,000

Customer Service
up arrow 3%

Microsoft Excel
up arrow 4%



Pension Plan Administration
up arrow 5%


Investment Management
up arrow 7%

401k Plan Administration
up arrow 13%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 56 votes.

Gender

Female
57 %
Male
43 %

Years of Experience

Less than 1 year
6%
1-4 years
30%
5-9 years
24%
10-19 years
28%
20 years or more
13%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 74%
medical benefits
Vision: 60%
dental benefits
None: 11%
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