Where is Severance and Retirement Plan located?

Severance and Retirement Plan is headquartered in Oak Brook, Illinois, but may have operations in other locations within the Insurance sector.

What does Severance and Retirement Plan do?

According to the company's overview, Severance and Retirement Plan is a company that operates in the Insurance industry.

What industry is Severance and Retirement Plan in?

Severance and Retirement Plan operates in the Insurance industry.

Severance and Retirement Plan Average Salary, Pay Ranges & Benefits

Severance and Retirement Plan Salary

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Salary at Severance and Retirement Plan

Current Job Openings at Severance and Retirement Plan

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Is Severance and Retirement Plan’s Pay Competitive? Salary Benchmarking Analysis

How does Severance and Retirement Plan's compensation stack up against the industry and its key competitors? Our salary benchmarking analysis provides a clear comparison. The chart below visualizes this comparison alongside select peer companies.

Competitor / Benchmark	Avg. Salary	Variance	Primary Market Influence Factor & Explanation
Board of Trustees Ila Local 1478-2 Pension Fund	$118,581	+5.2%	Supported by Board of Trustees Ila Local 1478-2 Pension Fund's high-margin contracts allowing higher overhead.
Department of Insurance for State of Kentucky	$96,947	-14.0%	Typical compensation structure for smaller regional agencies like Department of Insurance for State of Kentucky.
Teamsters Local 731 Healthwelfare Pension Funds	$111,904	-0.7%	Reflects stabilized pricing equilibrium for commercial construction roles in this region.
Southeast and Southwest Areas Pension Fund	$111,197	-1.3%	Indicates identical technical requirements and experience levels between the two firms.
Insurance Industry	$123,858	+9.9%	Pay variances are driven by organizational scale, specialized skill requirements, or geographic cost-of-living factors.

Need More Granular Data? The analysis above provides a high-level market overview. To benchmark specific job codes, adjust for real-time cost-of-living changes, or access verified HR-reported datasets, upgrade to Salary.com for Business. Precision matters when building your compensation strategy.

How Severance and Retirement Plan's Salaries Compare to Similar Companies?

Explore companies in the same industry to compare average salaries, benefits, and career opportunities with those at Severance and Retirement Plan. Click a company name to learn more.

Board of Trustees Ila Local 1478-2 Pension Fund

$118,581 / year

Salary Range: $104,217 - $134,267

Springfield, NJ

Department of Insurance for State of Kentucky

$96,947 / year

Salary Range: $85,212 - $109,782

Frankfort, KY

Teamsters Local 731 Healthwelfare Pension Funds

$111,904 / year

Salary Range: $98,352 - $126,719

Burr Ridge, IL

Southeast and Southwest Areas Pension Fund

$111,197 / year

Salary Range: $97,729 - $125,914

Chicago, IL

Northern Illinois & Iowa Laborers Health & Welfare Trust

$97,537 / year

Salary Range: $85,725 - $110,452

Rock Island, IL

Profmed

$104,731 / year

Salary Range: $92,048 - $118,598

Johannesburg,

Bers

$128,823 / year

Salary Range: $113,215 - $145,863

Brooklyn, NY

United Association National Pension Fund

$117,916 / year

Salary Range: $103,630 - $133,523

Alexandria, VA

Deseret Health Group Inc

$101,197 / year

Salary Range: $88,941 - $114,598

Salt Lake City, UT

Employee Reviews: Working at Severance and Retirement Plan

Considering a career at Severance and Retirement Plan? Explore authentic employee reviews to learn about the work environment, career growth opportunities, pay transparency and benefits. These first-hand insights can help you set realistic compensation expectations and make informed career decisions.

The company also prioritizes diversity and inclusion, creating a welcoming atmosphere. There are occasional training sessions, though more development opportunities would be beneficial. Positive atmosphere with recognition for hard work. The company stays ahead of industry trends, providing cutting-edge tools. I appreciate the company’s commitment to employee well-being and professional growth. Pr...

Commented in April 24, 2025

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The company provides solid training and resources. Workloads are manageable, and deadlines are reasonable. The corporate culture is professional, though some departments may feel more fast-paced than others. I appreciate the opportunities for professional growth. The collaborative environment here is exceptional.

Commented in April 17, 2025

20

3

Training programs are available, though more specialization options would be beneficial. Working here has been a balanced experience. There are opportunities for skill development, though advancement can take time. Enjoy the company events. The hybrid work model allows flexibility without compromising productivity.

Commented in April 14, 2025

42

2

I’ve been with this company for over three years, and it’s been a great journey. It’s a great place for those seeking stability and professional growth. The insurance services we offer are reputable, making our work meaningful. The office atmosphere is relaxed yet professional.

Commented in February 19, 2024

15

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What Benefits Does Severance and Retirement Plan Offer Beyond Salary?

A competitive compensation package is more than just a salary. Severance and Retirement Plan offers a comprehensive benefits package designed to support your health, financial future, and overall well-being. Below are the most common key benefits:

Social Security

401(K)

Disability

Healthcare

Pension

Time Off (days)

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What Is the Cost of Living Near Chicago?

Understanding the cost of living near Chicago is key to truly evaluating a salary offer or your current compensation at Severance and Retirement Plan.

Chicago's Cost of Living Index is approximately 106.9 (6.9% more expensive than US average; 14.0% more than IL average). Major US city, housing varies greatly by neighborhood but can be high, extensive CTA transit. When planning your budget based on a salary from Severance and Retirement Plan, consider these typical monthly expenses:

Expense Category	Estimated Monthly Cost	Key Considerations / Notes
Housing (1-BR Apt Rent)	$1,700 - $2,600+	A significant portion of Severance and Retirement Plan salary. Location choices impact this heavily.
Utilities (Basic)	$140 - $230	Electricity, Heating, Cooling, Water etc.
Public Transportation	$105 (CTA 30-day pass)	Essential for most commuters; car ownership is costly.
Groceries (Single Person)	$430 - $640	Can be higher with more dining out or specialty stores.
Personal & Leisure	$450 - $800+	Dining out, entertainment, shopping. Highly variable.
Healthcare (Individual)	$400 - $750+	Varies significantly by plan & employer contribution.
Subtotal (Excluding Taxes)	$3,225 - $5,025+	This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay.

FAQs of Severance and Retirement Plan

1. How much does Severance and Retirement Plan in the United States pay?

Severance and Retirement Plan pays its employees an average of $112,684 per year. The average salary at Severance and Retirement Plan range from $99,039 to $127,609 per year. It's important to remember that these are overall averages, actual salaries vary significantly based on specific job titles, years of experience, skills and location.

2. Do Severance and Retirement Plan employees get a higher salary than its peer company?

The salary at Severance and Retirement Plan is lesser than its peer company. The average annual salary at Severance and Retirement Plan is $112,684, or an hourly wage of $54, in comparison to Board of Trustees Ila Local 1478-2 Pension Fund which pays $118,581 per year or $57 per hour.

3. How much does salary increase with years of experience at Severance and Retirement Plan?

Salary progression with years of experience at Severance and Retirement Plan is typical. Generally, as employees gain more relevant experience, develop more skills, and take on greater responsibilities, their earning potential increases. For example, a role with 5-7 years of experience will usually pay more than the same role requiring 0-2 years.

4. Do salaries at Severance and Retirement Plan vary by office location?

Yes, it's very likely that salaries at Severance and Retirement Plan vary by office location. Companies often adjust pay based on local market rates, cost of living, and talent competition in different geographic areas. For instance, a role in a high-cost city like New York City may offer a higher nominal salary than the same role in a lower-cost city like Omaha, NE. Our Cost of Living Insights for Chicago section provides more context.

5. Does Severance and Retirement Plan offer good benefits?

Severance and Retirement Plan typically offers a comprehensive benefits package that adds significant value to an employee's total compensation. Common benefits include health, dental, and vision insurance, a 401(k) plan often with a company match, paid time off. For example, a strong 401(k) match or excellent, low-cost health insurance can be worth thousands of dollars annually, effectively increasing your overall earnings beyond your base salary. For a more detailed list of benefits, please see our "Employee Benefits at Severance and Retirement Plan" section on this page.