Description
Advise individuals and plan sponsors on pensions and retirement income using expertise in defined benefit and defined contribution plans, annuities, Social Security coordination, and tax rules. Duties include assessing service history, pension accruals, account balances, beneficiaries, cash flow, and objectives; modeling benefits and distribution options; and ensuring compliance with plan and regulatory requirements. May also implement rollovers, annuitizations, and manage retirement account investments.
- • Analyze pension accruals, service credits, account balances, and retirement timelines to design income strategies.
- • Answer clients' questions about plan provisions, vesting, COLAs, survivor options, and payout choices.
- • Interview clients to document earnings history, beneficiaries, retirement age goals, risk tolerance, and tax status.
- • Implement pension elections, rollovers, and distribution schedules, or coordinate with plan administrators and custodians.
- • Prepare and explain benefit estimates, lump-sum versus annuity comparisons, and retirement income projections.
- • Guide clients in gathering SPDs, benefit statements, prior plan records, union agreements, and Social Security statements.
- • Contact clients periodically to review life events, plan updates, or buyout offers that affect benefits.
- • Collaborate with HR, actuaries, attorneys, and accountants to align pension strategies and compliance.
- • Develop strategies for survivor benefit elections, COLA choices, and buyout or commutation decisions.
- • Open rollover IRAs and retirement accounts; facilitate transfers and disbursements in accordance with regulations.
- • Conduct workshops on pension literacy, retirement income planning, RMDs, and Social Security coordination.
- • Explain tax treatment of pension distributions, rollovers, Roth conversions, and early withdrawal penalties.
- • Recommend investment options within employer plans, such as target-date funds and stable value, aligned with fiduciary standards.
- • Recommend strategies for integrating pension income with Social Security, savings withdrawals, and cash management.
- • Review retirement plans regularly for law changes, interest rate shifts, and client circumstances that warrant reassessment.
- • Manage retirement portfolios to support guaranteed and variable income needs and rebalance as needed.
- • Build and maintain client and plan sponsor relationships.
- • Explain advisory scope, fees, and fiduciary duties to clients and participants.
- • Evaluate annuity providers, stable value options, and interest rate environments relevant to lump-sum valuations.
- • Monitor markets, mortality updates, and regulatory changes to keep pension advice current.
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Financial Services
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O*NET occupational data (work activities, skills, knowledge).
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This site includes information from O*NET by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA), used under the CC BY 4.0 license. Career Clutch has modified some of this information for student readability. USDOL/ETA has not approved, endorsed, or tested these modifications. O*NET® is a trademark of USDOL/ETA.
Last reviewed: Jan 2026
