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Cigna Group 401(k) retirement plan: the investment options

Does your 401(k) vote the way you would? $12.43bn of the $25.19bn in the Cigna Group plan votes in secret. Fidelity 500 Index Fund, the most common fund in the plans we track, publishes every vote: answer 3 of its ballots, then see your result.

The question on the ballot

As filed

The Cigna Group 401(k) holds $25.19bn. Of the $12.43bn we could identify from the plan’s own filing, every dollar sits in a fund that publishes no record of how it voted your shares — collective trusts, which unlike a mutual fund file no Form N-PX and leave no public trace of a single vote.

SourceCigna Group’s own annual retirement-plan filing with the SEC (Form 11-K, Schedule of Assets) · open the filing

What the plan holdsVehicleVoting recordValue
INVESTMENTS, AT FAIR VALUE Not identified from the filing Not counted either way $11.30bn
PRIAClisted as “BLACKROCK SP 500 IDX (IS) Separate Account” Collective trust or separate account NONE $3.73bn
PRIAClisted as “ALL WORLD EX-US STOCK INDEX FUND Separate Account” Collective trust or separate account NONE $2.19bn
PRIAClisted as “BLACKROCK EQUITY MARKET INDEX FUND Separate Account” Collective trust or separate account NONE $1.80bn
VRIAClisted as “THE CIGNA GROUP STABLE VALUE FUND (CONTRACT INTEREST RATE: 3.27 %) Synthetic Contract” Collective trust or separate account NONE $1.54bn
PRIAClisted as “LARGE CAP BLEND FUND Pooled Separate Account” Collective trust or separate account NONE $811m
Cignalisted as “THE CIGNA GROUP COMMON STOCK Common Stock” Employer stock Voted by the plan trustee $776m
PRIAClisted as “GUARANTEED LONG TERM FUND (CONTRACT INTEREST RATE: 1/1-6/30 3.15 %, 7/1-12/31 3.50 %) General Account Contract” Not identified from the filing Not counted either way $683m
PRIAClisted as “MID CAP BLEND FUND Pooled Separate Account” Collective trust or separate account NONE $485m
PRIAClisted as “US TOTAL STOCK MARKET INDEX FUND Separate Account” Collective trust or separate account NONE $470m
PRIAClisted as “SMALL CAP BLEND FUND Pooled Separate Account” Collective trust or separate account NONE $452m
PRIAClisted as “PRUDENTIAL INVESTMENT MANAGEMENT, INC. HIGH YIELD BOND FUND Pooled Separate Account” Collective trust or separate account NONE $307m

The 12 largest holdings in the plan. “Vehicle” is the description the filing itself gives each investment.

Why there is nothing to show

A mutual fund has to file Form N-PX every year listing every vote it cast on your behalf. A collective investment trust does not. It is a bank-run vehicle sold only inside retirement plans, it is cheaper, and it is now where most 401(k) default money sits — including most target-date funds, which is where savers who never chose anything are put.

So the shares bought with Cigna Group employees’ retirement savings are voted every proxy season — on executive pay, on board seats, on climate and workforce proposals — and there is no public document anywhere recording how. This is not an oversight by Cigna Group; it is what the disclosure rules currently require, which is to say: nothing.

What you can do

Check whether your plan offers any registered fund as an alternative — those publish their records, and you can read them here. If it does not, the menu itself is the thing that has to change, and that is a decision made by the plan’s fiduciary committee, not by you alone.

See how funds that do publish voted →

CoverageWe classified 52.4% of this plan’s assets from the filing. The figure above is the share of the money we could classify; anything we could not identify is excluded from it rather than assumed either way.

Other employer plans

The largest employer plans on the site, and a few more. Each page shows what the plan’s funds did with the shares its savers paid for.

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