Process
How Culpepper RFP can make your life easier.
Not Enough Time in the Day?
Let Culpepper RFP take managing the RFP process off your plate. We cover retirement plan recordkeepers, cybersecurity consultants, benefits brokers, 401(k) and 403(b) investment advisors, and pension vendor evaluations.
Fee & Service Benchmarking
The need for independent third-party evaluations of 401(k), 403(b), pension plan, and E&F providers has never been greater. Due to participant litigation and DOL guidance on the reasonableness of plan fees, HR teams are under pressure to ensure fees and services are competitive.
Request for Information (RFI)
The DOL 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 using an independent third party for the audits. We can help with the selection process for a cybersecurity consultant.
Request for Proposal (RFP)
The Consolidated Appropriations Act of 2021 (CAA) brought significant changes for health insurance brokers. Transparency is coming to healthcare brokers much as it did in the retirement plan industry.
“The investment committee is extremely pleased with the process and results.”
Frequently Asked Questions
What size projects are you able to take?
Culpepper RFP, LLC works with 401(k), 403(b), and pension plans of every size. We have formed a service and fee structure that works for any plan sponsor. RFP evaluations are needed at every plan size and we want to be able to assist every organization that needs one.
How large is your cybersecurity / technology team?
The DOL cybersecurity RFP service was added in 2021. We started with two people and quickly grew to four due to the immediate interest from plan sponsors and their legal advisors. The four members of the team have more than 60 years of practical experience buying, selling, evaluating, and sourcing cybersecurity consultants and vendors, plus our ERISA experience. That combination makes us one of the only truly independent RFP evaluators in the market today.
How large is your health & welfare team?
Due to our delighted retirement plan clients, we have continued to invest in and grow our team. We have four team experts who cover varying topic areas.
What is your personal experience with retirement plans?
Culpepper RFP has sat on all sides of the fiduciary table. Our past experience includes an international investment consulting firm, two of the largest recordkeepers, and what was at the time the largest investment management firm in the U.S. We give clients an insider perspective of the industry that helps them make better fiduciary decisions.
How long do projects typically last?
We customize each evaluation to the needs of the client. Most projects are started and completed within 90 days. Some run shorter or longer depending on complexity. The new DOL cybersecurity RFPs can take a bit longer because the material is new for most plan sponsors.
Why Culpepper RFP for our projects?
Culpepper RFP takes responsibility for every step of the RFP project. Having an independent third party ensures you get an unbiased evaluation, which brings an extra level of security to the plan sponsor. We have no formal or informal agreements with vendors to look on them favorably during evaluations. Our complete independence ensures there is no actual or potential conflict of interest.