For many plan sponsors, broker and vendor evaluations tend to follow a familiar pattern.

They happen late in the year — often just months before open enrollment.

At that point, the focus is immediate and practical:

• Finalizing plan design

• Confirming pricing

• Preparing employee communications

Most plan sponsors do not interact with ERISA attorneys until a problem has already surfaced.

Sometimes it is a regulatory inquiry.
Sometimes it is litigation.
And sometimes it is simply a concern that something about the plan’s oversight process may not be fully aligned with fiduciary expectations.

Over the past decade, private equity has significantly accelerated consolidation across the retirement and benefits industries.

Brokerages, consulting firms, recordkeepers, and third-party administrators are increasingly being acquired or backed by private equity investors.

For plan sponsors, this shift raises an important question:

How does private equity ownership affect the service providers responsible for managing critical benefit programs?

Should Plan Sponsors Conduct an RFP — or Is Benchmarking Enough?

One of the most common questions plan sponsors ask when evaluating benefit plan service providers is simple:

Do we need to run a full RFP, or is benchmarking sufficient?

The answer is rarely absolute. What matters most is not the specific tool used, but whether the review process is thoughtful, impartial, and defensible.

Fiduciary reviews shouldn’t be driven by problems alone. Learn the key events that should trigger a review — and why proactive action protects plan sponsors.

Many plan sponsors know they are fiduciaries — but don’t know what a defensible process looks like. Learn the practical elements regulators and courts expect to see.

Many plan sponsors aren’t sure how often they should review benefit plan service providers. Learn what fiduciary standards expect — and how to avoid common timing mistakes

Broker compensation structures can create fiduciary risk plan sponsors rarely see. Learn how commissions, incentives, and transparency requirements are changing expectations.

Plan sponsors often rely on brokers and consultants who are not fiduciaries. Learn why that reliance creates risk — and what sponsors are expected to manage themselves.

Many plan sponsors don’t realize they are fiduciaries under federal law. Learn what fiduciary responsibility actually means — and why understanding it early matters.

Fee benchmarking alone won’t satisfy ERISA requirements. Learn the key differences between benchmarking and provider evaluation — and why both are essential for compliance.

ERISA attorneys see fiduciary risk long before their clients do. Here are the five things plan sponsors often misunderstand — and what attorneys wish they knew.

Health benefit plans are entering the same litigation cycle that reshaped retirement plans. Learn the warning signs — and what plan sponsors must do now.

Strong vendor relationships can still create fiduciary risk. Learn why familiarity, loyalty, and convenience may undermine compliance — even when performance is solid.

Most plan sponsors assume that their internal RFP process is “good enough.” They compare a few vendors, pull together a committee, and settle on a partner they trust. But under ERISA, “good enough” doesn’t hold up.

ERISA attorneys don’t refer vendors lightly. Learn why so many trust Culpepper RFP to protect their clients from fiduciary risk — and what they see long before plan sponsors do.

ERISA attorneys don’t refer vendors lightly. Discover why so many rely on Culpepper RFP to protect their clients — and what they know that plan sponsors often overlook.

The latest ERISA lawsuits aren’t about fraud — they’re about process. Learn what today’s headlines reveal about your risk exposure and how to avoid becoming one.