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Retirement plan specialist skills for your resume and career

Updated January 8, 2025
4 min read
Quoted expert
Elisha Blankson
Retirement plan specialist example skills
Below we've compiled a list of the most critical retirement plan specialist skills. We ranked the top skills for retirement plan specialists based on the percentage of resumes they appeared on. For example, 13.6% of retirement plan specialist resumes contained life insurance as a skill. Continue reading to find out what skills a retirement plan specialist needs to be successful in the workplace.

15 retirement plan specialist skills for your resume and career

1. Life Insurance

Here's how retirement plan specialists use life insurance:
  • Negotiated new life insurance contract and annual health/dental renewals.
  • Planned, prospected, opened, and closed direct sales for life insurance clients Trained fellow agents to improve company sales performance

2. Financial Products

Financial products refer to instruments through which an individual can invest, borrow or save money. Such devices include credit cards, shares, deposits, bonds, and loans.

Here's how retirement plan specialists use financial products:
  • Educated clients on company's range of financial products while increasing market share.
  • Utilized independent auditor reports to facilitate client optimization of their actual value using various financial products and services.

3. FINRA

Here's how retirement plan specialists use finra:
  • Complied with IRS, FINRA, Patriot s Act, Sarbanes-Oxley and anti-money laundering regulations to process qualified plan transactions.
  • Registered with FINRA and obtained Series 6 and 63 licenses.

4. ERISA

Here's how retirement plan specialists use erisa:
  • Trained Plan Administrators, provided guidance to division personnel, and ensured ERISA compliance.
  • Ensured that 401k and other defined contribution plans met ERISA rules and regulations.

5. Retirement Accounts

Here's how retirement plan specialists use retirement accounts:
  • Provided clients with accurate and detailed information in regard to retirement accounts.
  • Imputed customer information into computer system and transferred funds into retirement accounts.

6. Plan Design

Plan design refers to preparing a benefits, insurance, or transportation plan for a specific person. Depending on what a company is able to offer to an employee, a different benefits or insurance plan may need to be created. This may require additional data research in order to determine what an employee may require from company benefits.

Here's how retirement plan specialists use plan design:
  • Earned actuarial certifications in retirement plan design and testing.
  • Conducted conference calls with clients, attorneys and accountants to create the plan designs and features of the company retirement plan.

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7. Payroll

Payroll is the sum of all the compensation that an organization has to pay to employees at a specified time. Payroll is managed by the finance or HR department while small business owners may handle it themselves. Payroll isn't fixed as it varies every month due to sick leaves, overtime, etc.

Here's how retirement plan specialists use payroll:
  • Called into the ADP payroll client base to cross-sell retirement products and worked with payroll reps on joint sales.
  • Assisted in the planning, testing and conversion of the company's payroll system from GEAC to JD Edwards.

8. Recordkeeping

Here's how retirement plan specialists use recordkeeping:
  • Maintained accurate and timely processing of all recordkeeping and administrative activities for over 3,000 high net worth executive stock option participants.
  • Assigned to the recordkeeping of defined benefit and balance forward defined contribution retirement plans.

9. IRS

IRS stands for internal revenue services. It helps many compliant taxpayers become conversant with the law regarding taxes; it ensures the minority who refuse to comply with paying taxes pay the required amount.

Here's how retirement plan specialists use irs:
  • Educated and assisted thousands of participants on retirement plan/contract provisions and IRS regulations.
  • Prepare signature-ready Form 5500s, DFVC filings for IRS and DOL audits, and Form 1099-Rs, as required.

10. Strong Analytical

Here's how retirement plan specialists use strong analytical:
  • Utilize strong analytical skills to eliminate old adjustments and perform account analysis.

11. Client Service

Here's how retirement plan specialists use client service:
  • Leveraged prior background of defined contributions in client services, delivered superior level of participant experience in Defined Contributions.
  • Project managed implementation and client service of defined benefit annuity plan feature.

12. DOL

Here's how retirement plan specialists use dol:
  • Managed and resolved participant escalations and requests from DOL.
  • Drafted plan documents, amendments, including submissions to DOL, Summary Annual Reports, Summary Plan Descriptions and employee communications.

13. Minimum Distributions

Here's how retirement plan specialists use minimum distributions:
  • Calculate Required Minimum Distributions and Davis Bacon Money Purchase calculations.
  • Calculate Federal and State withholding, Required Minimum Distributions and other tax related procedures.

14. Legislative Changes

Here's how retirement plan specialists use legislative changes:
  • Conducted seminars on Legislative changes.
  • Lead the effort to amend the Company's qualified and non-qualified retirement plans as a result of significant legislative changes.

15. Insurance Products

Here's how retirement plan specialists use insurance products:
  • Expanded an independent advisory business to include fixed income investments and insurance products.
  • Provided advice and counsel to clients on appropriate investments and insurance products relative to their financial goals and objectives.
top-skills

What skills help Retirement Plan Specialists find jobs?

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What type of skills will young retirement plan specialists need?

Elisha BlanksonElisha Blankson LinkedIn profile

Program Director NCCU, Assistant Professor, North Carolina Central University

Graduates will need a skill set about the field in which they received training and additional skills useful to the job market. For example, with the changing demographics in the United States, extra skills in information technology and foreign languages will be a plus when entering the job market.
Do you want to know more?
Read more about what experts have to say about retirement plan specialist

List of retirement plan specialist skills to add to your resume

Retirement plan specialist skills

The most important skills for a retirement plan specialist resume and required skills for a retirement plan specialist to have include:

  • Life Insurance
  • Financial Products
  • FINRA
  • ERISA
  • Retirement Accounts
  • Plan Design
  • Payroll
  • Recordkeeping
  • IRS
  • Strong Analytical
  • Client Service
  • DOL
  • Minimum Distributions
  • Legislative Changes
  • Insurance Products
  • Plan Sponsors
  • Account Maintenance
  • ADP
  • Financial Statements
  • Plan Provisions
  • Discrimination Testing
  • Client Relationships
  • External Clients
  • Esop
  • Government Regulations
  • SEP
  • Plan Administrators
  • Telephone Inquiries
  • Participant Accounts
  • Client Satisfaction
  • Outbound Calls
  • TPA
  • Retirement Products
  • Asset Retention
  • Iras
  • ACH
  • Annuities
  • Estate Planning
  • Roth
  • Financial Markets
  • Inbound Calls
  • Investment Options
  • Conference Calls
  • Investment Products
  • Client Inquiries
  • HR

Updated January 8, 2025

Zippia Research Team
Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

Updated January 8, 2025

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