You're a defined benefit plan sponsor. That means that you have to hire an Enrolled Actuary (EA). No, you don't have to have one on staff, but you must have an Enrolled Actuary provide an annual actuarial valuation for the plan.
You know that your EA is providing great service and making smart decisions on your behalf, don't you?
If you are a prudent sponsor, you will periodically bid that work. In other words, you will put out a request for proposal to ensure that your current EA and his or her firm are providing you with excellent service at a fair price.
Fair is in the eye of the beholder. If what you are looking for is a cheaper price, you can almost always find one. There's usually someone out there who will do the work for less money. That doesn't necessarily mean that engaging them will be a good decision.
Suppose I pointed out to you, however, that your plan's EA was making bad decisions on your behalf. Perhaps those decisions are costing your plan more money than you are spending on the services for that EA. You probably think that can't be your plan. But, it could be.
Suppose I told you that I could educate you as to those decisions for your plan. I know, you don't have the time to give me all the information that I'll need. Well, suppose I told you that I don't need your time for that. I just want to be able show you what I've learned.
Would you be interested then?
Send me a note or call me at 770-235-8566. You'll never know unless you do.