How Culpepper RFP, LLC can make your life easier
NOT ENOUGH TIME IN THE DAY TO GET IT ALL DONE AND MANAGE THE RFP PROCESS?
Let the Culpepper RFP, LLC take managing the RFP process for retirement plan recordkeepers, cybersecurity consultants, benefits brokers, and 401(k) / 403(b) investment advisors as well as pension vendor evaluations off of your plate.
Fee & Service audit
The need for independent third party evaluations of 401(k),403(b), pension plans, and E&F providers has never been greater. Due to participant litigation and DOL reasonableness of plan fee guidance, HR teams are under pressure to ensure fees and services are competitive.
Request for Information (RFI)
The DOL has created a “blind spot” for plan sponsors with the 2021 cybersecurity guidelines. Retirement plan sponsors and fiduciaries must demonstrate that they and their service providers have strong cybersecurity programs in place. The DOL has suggested utilizing an independednt third party for the audits. We can help the selection process for a cybersecurity consultant.
REQuest for proposal (rfp)
The Consolidated Appropriations Act of 2021 (CAA), signed into law at the end of December 2021, brought significant changes for health insurance brokers. Transparency is coming to healthcare brokers much as it did in the retirement plan industry.
FAQs
what size projects are you able to take?
Culpepper RFP, LLC works with 401(k), 403(b), and pensions of every size for projects. We have formed a service and fee structure that works for any plan sponsor. 401(k), 403(b), and pension RFP evaluations are needed for all plan sizes and we want to be able to assist all organizations needing RFP evaluations
How large is your cybersecurity/technology team?
The DOL cybersecurity RFP service is a new addition to our RFP evaluation services for plan sponsors in 2021. We started with two people but have quickly grown to 4 due to the immediate interest from plan sponsors and their legal advisors.
The four members on the team have more than 60 years of practical experience buying, selling, evaluating, and sourcing cybersecurity consultants/vendors plus our ERISA experience. The combined DOL cybersecurity and ERISA expertise make us one of the only truly independent RFP evaluators in the market today.
What is your personal experience with retirement plans?
Culpepper RFP, LLC has sat on all sides of the fiduciary table. Our past experience includes working for an international investment consulting firm, two of the largest record keepers, and at the time the largest investment management firm in the US. We give clients an insider’s perspective of the industry that benefits them to make better fiduciary decisions.
How long do projects typically last?
We customize the retirement RFP evaluation to meet the needs of our customers. Most projects are started and completed within 90 days. There are exceptions of ones both shorter and longer depending upon complexity. With the addition of the new DOL cybersecurity RFPs, we see that these projects might take a bit longer due to the newness of the material for our plan sponsors.
Why Culpepper RFP, LLC Is for our projects?
Culpepper RFP takes responsibility for every step in the RFP project. If you are a retirement or benefit plan sponsor of a 401(k), 403(b), pension, or medical plan having an independent third party ensures that you are getting an unbiased evaluation. That brings an extra level of security to the plan sponsor. Additionally, we have no formal or informal handshake agreements with vendors to look favorably on them during our retirement plan RFP evaluations. Our complete independence ensures there is no actual or potential conflict of interest
“The investment committee is extremely pleased with the process, results…”
— Director of HR