25 Hottest Group & Pension Administrators Jobs in 2023

Group & Pension Administrators: The Future of Retirement Planning

The world of group and pension administration is undergoing a major transformation, and the demand for qualified professionals is growing rapidly. According to the Bureau of Labor Statistics, the job outlook for group and pension administrators is expected to grow by 8% from 2020 to 2030, much faster than the average for all occupations.

This growth is being driven by a number of factors, including the aging population, the increasing popularity of defined contribution plans, and the growing complexity of retirement regulations. As a result, group and pension administrators are in high demand, and they can expect to find excellent job opportunities in a variety of settings.

What Do Group & Pension Administrators Do?

Group and pension administrators are responsible for the day-to-day operations of group and pension plans. They may work for insurance companies, banks, trust companies, or other financial institutions. They perform a variety of tasks, including:

• Enrolling participants in plans
• Processing contributions
• Investing plan assets
• Distributing benefits
• Providing customer service

What are the Benefits of a Career as a Group & Pension Administrator?

A career as a group & pension administrator offers a number of benefits, including:

• Job security: The demand for group and pension administrators is expected to continue to grow for many years to come, so you can be confident that you will have a secure job.
• Competitive salary: According to the Bureau of Labor Statistics, the median annual salary for group and pension administrators was $79,730 in May 2021. The top 10% of earners made more than $127,310, while the bottom 10% earned less than $45,870.
• Excellent benefits: Group and pension administrators typically receive excellent benefits, including health insurance, dental insurance, vision insurance, and a retirement plan.
• Opportunities for advancement: The field of group and pension administration offers a number of opportunities for advancement. With experience, you can move into management positions or become a specialist in a particular area.

How to Become a Group & Pension Administrator

To become a group & pension administrator, you will typically need a bachelor's degree in business administration, finance, or a related field. You may also need to complete additional training or certification, such as the Certified Employee Benefit Specialist (CEBS) designation.

Where to Find Group & Pension Administrator Jobs

You can find group and pension administrator jobs by searching online job boards, contacting insurance companies, banks, and other financial institutions, or attending industry events.

The Future of Group & Pension Administrators

The future of group and pension administrators is bright. The demand for these professionals is expected to continue to grow, and they will play an essential role in helping people plan for a secure retirement.

The 25 Hottest Group & Pension Administrator Jobs in 2023

1. Group & Pension Administrator
2. Senior Group & Pension Administrator
3. Manager, Group & Pension Administration
4. Director, Group & Pension Administration
5. Vice President, Group & Pension Administration
6. Defined Contribution Plan Administrator
7. Defined Benefit Plan Administrator
8. 401(k) Plan Administrator
9. 403(b) Plan Administrator
10. Profit-Sharing Plan Administrator
11. Employee Stock Ownership Plan Administrator
12. Health Savings Account (HSA) Administrator
13. Flexible Spending Account (FSA) Administrator
14. Health Reimbursement Arrangement (HRA) Administrator
15. Cafeteria Plan Administrator
16. Nonqualified Deferred Compensation Plan Administrator
17. Supplemental Executive Retirement Plan (SERP) Administrator
18. Employee Benefit Consultant
19. Group & Pension Actuary
20. Retirement Income Specialist
21. Estate Planning Attorney
22. Tax Accountant
23. Financial Planner
24. Certified Financial Planner (CFP)
25. Chartered Retirement Planning Counselor (CRPC)

FAQs about Group & Pension Administrators

What is the difference between a group plan and a pension plan?

A group plan is a retirement plan that is offered by an employer to its employees. A pension plan is a retirement plan that is funded by an employer and provides benefits to employees upon retirement.

What are the different types of group plans?

There are many different types of group plans, including 401(k) plans, 403(b) plans, profit-sharing plans, employee stock ownership plans, and health savings accounts.

What are the different types of pension plans?

There are two main types of pension plans: defined contribution plans and defined benefit plans. Defined contribution plans are plans in which the employer contributes a fixed amount to the employee's account each year. Defined benefit plans are plans in which the employer promises to provide the employee with a specific benefit upon retirement.

What are the benefits of a group or pension plan?

Group and pension plans offer a number of benefits, including tax savings, investment growth, and retirement income.

How can I find a group or pension administrator?

You can find a group or pension administrator by searching online job boards, contacting insurance companies, banks, and other financial institutions, or attending industry events.