Monument Health Pension Plan

Monument Health Pension Plan

The Monument Health Pension Plan is the defined benefit vehicle for Monument Health, Inc., an integrated health system based in Rapid City, South Dakota. The plan is structured as a cash balance plan, tying its obligations to the provider’s workforce across 31 medical specialties and a footprint extending into Eastern Wyoming. Paulette Davidson serves as President and CEO of the parent organization, while CFO Mark Thompson holds the primary financial oversight role. The plan’s asset strategy blends alternative exposures with direct real estate holdings. Hedge funds form a component of the portfolio, alongside outright ownership of healthcare-linked commercial properties, including the Monument Health Rapid City Hospital Campus at 353 Fairmont Blvd and the Orthopedic & Specialty Hospital. These assets are geographically concentrated in Western South Dakota, reflecting the health system’s position as the dominant care provider from the Black Hills into the surrounding rural communities. The plan also overlaps with Monument Health’s operating assets, such as the Black Hills Life Flight medical helicopter. May 2025 brought national attention when Becker’s Hospital Review named Rapid City Hospital one of the top five U.S. hospitals for lowest heart failure readmission rates between mid-2020 and mid-2023. Monument Health has been a member of the Mayo Clinic Care Network since 2020, connecting its clinicians to Mayo expertise. Philanthropic giving flows through the Monument Health Foundation, which sits adjacent to the pension plan’s mandate. Structurally, the plan is inseparable from the operating health system it serves, lacking the independent permanent capital posture of a college endowment or a sovereign wealth fund. Its hedge fund book, however, signals a willingness to diversify beyond South Dakota commercial real estate, which is the dominant physical asset on its balance sheet.