Retirement Plan Senior Administrator Salary in the United States

FAQ about Retirement Plan Senior Administrator

1. How much does a director of retirement plan services make?

The salary for a Retirement Plan Senior Administrator ranges from $80,700 to $91,900, with a mid-point of $86,800. This role involves managing pension plan administration, including both Defined Contribution and Defined Benefit plans, ensuring compliance and effective service delivery.

2. What does a retirement plan administrator do?

A Retirement Plan Senior Administrator manages and oversees retirement plans, ensuring compliance with regulations and effective plan operations. They handle participant inquiries, process transactions, and maintain accurate records. The salary for this role typically ranges from $80,700 to $91,900, with a midpoint of $86,800, reflecting the expertise required in this field.

3. What does a senior pension administrator do?

A Senior Pension Administrator is responsible for record keeping and accounting, computing benefits, and determining benefit eligibility. The salary for this role typically ranges from $80,700 to $91,900, with a mid-point salary of $86,800, reflecting the expertise and responsibilities involved in managing retirement plans effectively.

4. How do retirement plan providers make money?

Retirement plan providers primarily generate revenue through kickbacks from mutual funds associated with the plans they offer. This practice, known as revenue sharing, involves payments for shelf space and is legal, though not always transparent. For professionals in this field, such as a Retirement Plan Senior Administrator, salaries range from $80,700 to $91,900, with a midpoint of $86,800.

5. What is the average salary for an administrator in the US?

The average salary for a Retirement Plan Senior Administrator in the US ranges from $80,700 to $91,900 annually, with a mid-salary of $86,800. Entry-level positions typically start at $80,700, while experienced professionals can earn up to $91,900 per year.

6. What is the highest paid system administrator?

The highest paid Retirement Plan Senior Administrator can expect a salary ranging from $80,700 to $91,900, with a mid-salary of $86,800. This reflects the competitive compensation for this role, which is essential in managing retirement plans effectively.