# Wellmark Non-Contributory Retirement Program

Wellmark Non-Contributory Retirement Program is a Pension Fund based in Des Moines, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Des Moines, United States
- **Region:** North America
- **Address:** Des Moines, IA, United States
- **Assets under management:** Undisclosed
- **Website:** wellmark.com
- **LinkedIn:** https://www.linkedin.com/company/wellmark-blue-cross-and-blue-shield

## Regulatory record

- **Reports private funds:** No

## About

The Non-Contributory Retirement Program for Certain Employees of Wellmark was formed as a trust to hold and administer pension assets for eligible employees of Wellmark, Inc., the dominant health insurer in Iowa and South Dakota with over two million members. The trust is a direct outgrowth of the employer’s benefits design rather than a standalone investment enterprise — its mandate is to fund accrued benefits for a closed or designated participant group without requiring employee contributions. Asset deployment flows from Wellmark’s corporate treasury into the trust to satisfy accrued benefit obligations; the trust itself does not raise external capital or accept discretionary allocations from third parties. The portfolio is understood to hold pension plan assets managed from Des Moines, though specifics of asset-class mix, fund commitments, and direct holdings remain unpublished. The trust’s structural counterpart, the Wellmark, Inc. Savings and Investment Plan Trust, serves as the defined-contribution vehicle within the same benefits ecosystem. Governance resides with a board of trustees drawn from Wellmark’s senior leadership, including President David Seth Brown and a set of named directors. Daniel J. Callahan serves as the program’s senior actuary, linking liability measurement to asset management. The Wellmark Foundation provides the organization’s philanthropic arm, but no evidence suggests it receives funding from or co-invests alongside the retirement trust. The trust’s architecture is a captive single-sponsor pension trust inside a regulated healthcare enterprise. It lacks the external fundraising, co-investment club dynamics, or hybrid fund-management overlay common among family offices and institutional allocators. The governance chain runs directly through the corporate entity, making the trust an administrative financing vehicle rather than a separate investment platform with an independent sourcing or allocation mandate.

## People

- David Seth Brown — President and Treasurer of Wellmark entities, Trustee/Director
- Lillian Louise Dittrick — Director/Trustee
- Jason Richard Humphrey — Director/Trustee
- Kyle Christopher Lattina — Director/Trustee
- Derek James Novak — Director/Trustee
- Michael Arthur Wegner — Director/Trustee
- Daniel J. Callahan — Senior Actuary

## Questions

### Who runs investment decisions for the trust?

Governance sits with a board of trustees drawn from Wellmark’s senior management, led by President and Treasurer David Seth Brown. Investment decisions are made at the plan-sponsor level or delegated to external managers, but the trust does not publish information on an internal investment committee or CIO.

### How is the trust related to The Wellmark Foundation?

The Wellmark Foundation is a separate philanthropic entity sponsored by Wellmark, Inc. There is no public evidence that the retirement trust funds, co-invests with, or otherwise directs assets to the foundation.

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

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