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How to hire a retirement specialist

Retirement specialist hiring summary. Here are some key points about hiring retirement specialists in the United States:

  • In the United States, the median cost per hire a retirement specialist is $1,633.
  • It takes between 36 and 42 days to fill the average role in the US.
  • Human Resources use 15% of their expenses on recruitment on average.
  • On average, it takes around 12 weeks for a new retirement specialist to become settled and show total productivity levels at work.

How to hire a retirement specialist, step by step

To hire a retirement specialist, you should create an ideal candidate profile, determine a budget, and post and promote your job. Here's a step-by-step guide on how to hire a retirement specialist:

Here's a step-by-step retirement specialist hiring guide:

  • Step 1: Identify your hiring needs
  • Step 2: Create an ideal candidate profile
  • Step 3: Make a budget
  • Step 4: Write a retirement specialist job description
  • Step 5: Post your job
  • Step 6: Interview candidates
  • Step 7: Send a job offer and onboard your new retirement specialist
  • Step 8: Go through the hiring process checklist

What does a retirement specialist do?

A retirement specialist is responsible for designing and implementing retirement packages such as benefits, savings, profit sharing, and pensions to the employees of a certain company. They work together with the human resource department to ensure that all retirees can access their benefits and pensions. Their duties and responsibilities include explaining the different retirement packages to the potential beneficiaries and working with HR to resolve any issues.

Learn more about the specifics of what a retirement specialist does
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  1. Identify your hiring needs

    Before you post your retirement specialist job, you should take the time to determine what type of worker your business needs. While certain jobs definitely require a full-time employee, it's sometimes better to find a retirement specialist for hire on a part-time basis or as a contractor.

    Determine employee vs contractor status
    Is the person you're thinking of hiring a US citizen or green card holder?

    A retirement specialist's background is also an important factor in determining whether they'll be a good fit for the position. For example, retirement specialists from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.

    This list presents retirement specialist salaries for various positions.

    Type of Retirement SpecialistDescriptionHourly rate
    Retirement SpecialistCompensation, benefits, and job analysis specialists conduct an organization’s compensation and benefits programs. They also evaluate position descriptions to determine details such as a person’s classification and salary.$13-26
    Workers Compensation CoordinatorWorkers compensation coordinators work with supervisors to identify incident causes and the best corrective actions. They train coordinators and supervisors on reporting and managing workers' compensation claims... Show more$19-43
    Benefits & Payroll AdministratorThe Benefits and Payroll Administrator manages the company's payroll, ensuring work benefits and employee documents are secure. The administrator also delivers employees' issues and concerns to the company's proper channels... Show more$17-32
  2. Create an ideal candidate profile

    Common skills:
    • Life Insurance
    • HR
    • Recordkeeping
    • Payroll
    • Medicare
    • Financial Products
    • Calculation
    • Customer Service
    • Retirement Accounts
    • FINRA
    • Client Relationships
    • Inbound Calls
    • Securities
    • IRS
    Check all skills
    Responsibilities:
    • Manage and resolve participant escalations and requests from DOL.
    • Lead major initiatives in 3concurrent roles successfully manage affluent personal and business portfolio to proactively cross-sell additional products and services.
    • Review social security, Medicare, annuities and tax relate questions.
    • Process recalculations and payroll for retirees resuming their retirement benefits.
    • Utilize ASC and SRT recordkeeping systems.
    • Educate participants, clients and third party facilitators on various ERISA regulations and procedures.
    More retirement specialist duties
  3. Make a budget

    Including a salary range in your retirement specialist job description helps attract top candidates to the position. A retirement specialist salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.

    For example, the average salary for a retirement specialist in New Mexico may be lower than in New Jersey, and an entry-level retirement specialist usually earns less than a senior-level retirement specialist. Additionally, a retirement specialist with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.

    Average retirement specialist salary

    $40,474yearly

    $19.46 hourly rate

    Entry-level retirement specialist salary
    $29,000 yearly salary
    Updated December 5, 2025

    Average retirement specialist salary by state

    RankStateAvg. salaryHourly rate
    1New Jersey$60,422$29
    2Connecticut$51,340$25
    3Maryland$49,636$24
    4California$49,606$24
    5Illinois$47,336$23
    6Minnesota$46,968$23
    7Michigan$44,072$21
    8Virginia$43,966$21
    9Colorado$43,812$21
    10Texas$42,737$21
    11North Carolina$40,824$20
    12Georgia$40,481$19
    13Idaho$39,377$19
    14Iowa$38,333$18
    15Kansas$37,657$18
    16Ohio$36,201$17
    17Arizona$33,814$16
    18Nebraska$33,054$16
    19Florida$31,904$15

    Average retirement specialist salary by company

    RankCompanyAverage salaryHourly rateJob openings
    1Amgen$74,825$35.971
    2Capital Group$66,681$32.06
    3Morgan Stanley$66,381$31.911
    4AIG$62,418$30.015
    5GPAC$61,898$29.76
    6AssetMark$56,595$27.211
    7Washington State University$48,895$23.51
    8Transamerica Corporation$46,849$22.522
    9Valic$45,247$21.75
    10Aegon Usa$41,749$20.073
    11National Financial Network$41,558$19.981
    12Hantz Group$41,479$19.94
    13The Independent Traveler$41,432$19.92
    14USAA$41,321$19.87
    15Veyo$41,204$19.81
    16Hunter$40,850$19.64
    17Axos Bank$40,335$19.392
    18ICONMA$40,313$19.38
    19Mercer$40,052$19.26
    20Nationwide$38,055$18.306
  4. Writing a retirement specialist job description

    A retirement specialist job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. Below, you can find an example of a retirement specialist job description:

    Retirement specialist job description example

    Job Summary and Opportunity

    We are looking for a Sr. Deposit Operations Specialist with 2+ years' of retirement services industry or applicable banking experience with strong operational background and familiarity with IRA plans.

    Responsibilities
    • Provide technical and operational assistance to IRA customers
    • Provide support to Relationship Managers, Direct Bankers and other interdepartmental employees
    • Work with New Accounts team to set up new IRA plans
    • Interact directly with customers, answering questions and offer guidance regarding IRA accounts as well as the regulations surrounding them
    • Input /update plan information in the system and assist Employers with the plan review
    • Data input and verification of all customer information pertaining to maintenances
    • Perform a variety of tasks related to maintaining and closing out IRA accounts
    • Take initiative to continuously develop skills and industry knowledge to enhance the value of all customer interactions
    • Recommend and implement continuous improvements to Back Office processes identified through daily interaction with customers and internal operations teams
    • Monitor reports and fix processing errors as they arise
    • Act as a subject matter expert for others in the IRA department as well as other departments
    • Perform other duties and special projects as assigned
    Requirements
    • High school diploma
    • 2+ years' of retirement services industry or applicable banking experience with strong operational background and familiarity with IRA plans
    • Demonstrates ability to confidently explain and/or document complex processes in a clear and easy to understand manner
    • Training and mentoring
    • Considered a subject matter expert (SME) that is looked upon as a resource by multiple departments. Understands process flows related to their department in depth and can effectively communicate them
    APPLY DIRECTLY FOR CONSIDERATION

    Born digital, Axos Bank has reinvented the banking model and grown to over $15 billion in assets since our founding in 2000. With a broad and ever-growing range of financial products, Axos Bank is rated among the top 5 digital banks in the country! Axos Financial is our holding company and publicly traded on the New York Stock Exchange under the symbol "AX" (NYSE: AX).

    We bring together human insight and digital expertise to anticipate the needs of our customers. Our team members are innovative, technologically sophisticated, and motivated to achieve.

    Learn more about working here!

    Pre-Employment Drug Test:

    All offers are contingent upon the candidate successfully passing a credit check, criminal background check, and pre-employment drug screening, which includes screening for marijuana. Axos Bank is a federally regulated banking institution. At the federal level, marijuana is an illegal schedule 1 drug; therefore, we will not employ any person who tests positive for marijuana, regardless of state legalization.

    Equal Employment Opportunity:

    Axos Bank is an Equal Opportunity employer. We are committed to providing equal employment opportunities to all employees and applicants without regard to race, religious creed, color, sex (including pregnancy, breast feeding and related medical conditions), gender, gender identity, gender expression, sexual orientation, national origin, ancestry, citizenship status, military and veteran status, marital status, age, protected medical condition, genetic information, physical disability, mental disability, or any other protected status in accordance with all applicable federal, state and local laws.

    Job Functions and Work Environment:

    While performing the duties of this position, the employee is required to sit for extended periods of time. Manual dexterity and coordination are required while operating standard office equipment such as computer keyboard and mouse, calculator, telephone, copiers, etc.

    The work environment characteristics described here are representative of those an employee may encounter while performing the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.

  5. Post your job

    There are a few common ways to find retirement specialists for your business:

    • Promoting internally or recruiting from your existing workforce.
    • Ask for referrals from friends, family members, and current employees.
    • Attend job fairs at local colleges to meet candidates with the right educational background.
    • Use social media platforms like LinkedIn, Facebook, and Twitter to recruit passive job-seekers.
    Post your job online:
    • Post your retirement specialist job on Zippia to find and recruit retirement specialist candidates who meet your exact specifications.
    • Use field-specific websites.
    • Post a job on free websites.
  6. Interview candidates

    Your first interview with retirement specialist candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.

    It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.

    The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

  7. Send a job offer and onboard your new retirement specialist

    Once you have selected a candidate for the retirement specialist position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the agreement with a contract.

    You should also follow up with applicants who don't get the job with an email letting them know that you've filled the position.

    To prepare for the new retirement specialist first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.

  8. Go through the hiring process checklist

    • Determine employee type (full-time, part-time, contractor, etc.)
    • Submit a job requisition form to the HR department
    • Define job responsibilities and requirements
    • Establish budget and timeline
    • Determine hiring decision makers for the role
    • Write job description
    • Post job on job boards, company website, etc.
    • Promote the job internally
    • Process applications through applicant tracking system
    • Review resumes and cover letters
    • Shortlist candidates for screening
    • Hold phone/virtual interview screening with first round of candidates
    • Conduct in-person interviews with top candidates from first round
    • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
    • Conduct background checks on top candidates
    • Check references of top candidates
    • Consult with HR and hiring decision makers on job offer specifics
    • Extend offer to top candidate(s)
    • Receive formal job offer acceptance and signed employment contract
    • Inform other candidates that the position has been filled
    • Set and communicate onboarding schedule to new hire(s)
    • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)
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How much does it cost to hire a retirement specialist?

Before you start to hire retirement specialists, it pays to consider both the one-off costs like recruitment, job promotion, and onboarding, as well as the ongoing costs of an employee's salary and benefits. While most companies that hire retirement specialists pay close attention to the initial cost of hiring, ongoing costs are much more significant in the long run.

You can expect to pay around $40,474 per year for a retirement specialist, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for retirement specialists in the US typically range between $13 and $26 an hour.

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