Culpepper RFP, LLC helps sponsors through an RFP evaluation process of benefits brokers to determine the reasonableness of service and fees being provided vs. other brokers.
“The consolidated Appropriations Act of 2021 (CAA), signed into law at the end of December, brought significant changes for health insurance pertaining to price and quality information and requires 408(b)(2)-style broker compensation disclosure.”
— 401(k) specialist
rfp services include but are not limited to:
1. Identification of the best brokers based on your size, location, and required services
2. Writing of RFP and management of RFP evaluation process
3. Organization of suggested evaluation criteria
4. All interaction with providers during the evaluation period
5. Organization and presentation to a client on RFP results and summary of results
6. Organization of finalist presentations and agenda
7. Management of references from requested brokers
8. Final fee negotiation of the selected firm based on 408(b)(2) disclosure of fees