CIGNA Corporation (Defined Benefit)

CIGNA Corporation (Defined Benefit)

The Cigna Corporation Defined Benefit plan is the legacy pension vehicle for the Bloomfield, Connecticut-based health insurer, now operating under The Cigna Group. David M. Cordani, Chairman and CEO of the parent company, holds ultimate oversight of the plan's executive management, while Jodi Palerma runs day-to-day investment operations as Managing Director of Cigna Investment Management. The plan's assets serve as a long-duration liability hedge for Cigna's retired workforce, a structure that gives it a generational investment horizon. Asset allocation centers on private-market buyouts, with the fund's Altss strategy profile heavily concentrated in buyout commitments. The plan also maintains a direct real estate portfolio spanning mixed-use properties across the United States, and holds natural resources exposure. The pension fund leverages its corporate parent's in-house investment management arm to source and structure commitments, operating without the intermediary fees that burden many similarly sized institutional pools. Confirmed positions are not publicly itemized, consistent with the plan's disclosure posture as a corporate pension rather than a public fund. Nicole S. Jones, Executive Vice President and General Counsel of The Cigna Group, provides legal and governance oversight of plan fiduciary responsibilities from the parent level. The Cigna Group maintains membership in the UN Global Compact, applying ESG criteria to its corporate operations, though the degree to which these screens extend to the pension fund's buyout commitments remains internally governed. The fund's investment office operates from the Bloomfield headquarters. Unlike a public pension with statutory transparency requirements, Cigna's defined-benefit plan moves as a corporate treasury function — its investment disclosures are governed by ERISA and SEC corporate filing rules rather than open-records law. This structure gives the internal investment team the latitude to negotiate club deals and co-investment economics with external buyout sponsors without public debate over terms, a posture that distinguishes it from municipal and state-level peers that disclose commitments in open meetings.