# CIGNA Corporation (Defined Benefit)

CIGNA Corporation (Defined Benefit) is a Pension Fund based in Bloomfield, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Bloomfield, United States
- **Region:** North America
- **Address:** Bloomfield, CT, United States
- **Founded:** 1982
- **Assets under management:** Undisclosed
- **Website:** cigna.com
- **LinkedIn:** linkedin.com/company/cigna

## Regulatory record

- **Reports private funds:** No

## About

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.

## Sectors

- Buyout
- Real Estate
- Natural Resources

## People

- David M. Cordani — Chairman & CEO, The Cigna Group
- Jodi Palerma — Managing Director, Cigna Investment Management
- Nicole S. Jones — Executive Vice President & General Counsel, The Cigna Group

## Questions

### Who runs investment decisions at Cigna's defined-benefit plan?

David M. Cordani holds ultimate oversight as Chairman and CEO of The Cigna Group. Day-to-day portfolio management sits with Cigna Investment Management, run by Managing Director Jodi Palerma. The plan's internal team sources and structures buyout commitments directly, rather than delegating to an outsourced CIO.

### How does Cigna's pension fund source private-market deal flow?

The fund operates through Cigna Investment Management, its captive investment arm, which sources buyout commitments directly from general partners. This internal structure avoids fund-of-funds layering and allows the plan to negotiate co-investment allocations and fee terms on a relationship-driven basis alongside club-deal participants.

### Is the Cigna defined-benefit plan open to new participants?

No. As a legacy corporate defined-benefit plan, it serves Cigna's retired-employee population and is closed to new accruals. Contributions and liability management are governed by ERISA and the plan's funded-status position relative to its actuarial obligations.

### What asset classes does the Cigna pension fund allocate to beyond buyouts?

The fund holds a direct real estate portfolio of mixed-use properties across the United States and maintains natural resources exposure. The buyout allocation dominates the private-market sleeve, with no publicly disclosed commitments to venture capital, growth equity, or hedge fund strategies in the Altss-tracked record.

### Does The Cigna Group's UN Global Compact membership affect pension fund investments?

The Cigna Group is a UN Global Compact member, committing its corporate operations to ESG principles. The extent to which these criteria screen the pension fund's buyout commitments remains undisclosed. Governance of plan-level ESG integration sits with the internal investment committee under the parent company's fiduciary framework.

## Related profiles

- [Cigna](https://altss.com/profile/cigna)
- [Cincinnati Bell Pension Trust](https://altss.com/profile/cincinnati-bell-pension-trust)

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Last updated: 2026-06-03T20:00:00.000Z

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