Company: CI
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0001739940-25-000024
Chunk: 10

Company: Cigna Group
Filing Date: 2025-06-27
Form: 11-K
Chunk 10
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 of the supporting investment contracts and is utilized for Plan accounting purposes only. While EAIC does not guarantee, support or otherwise back the melded book value, participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at their melded book value.

The Plan transacts with each of the four separate contract issuers at contract value. These contracts meet the fully benefit-responsive investment contract criteria and therefore are reported at their contract value in the statements of net assets available for benefits. Contract value is the relevant measure for fully benefit-responsive investment contracts because this is the amount received by the Plan if participants were to initiate permitted transactions. Contract value represents contributions made under each contract, plus earnings, less withdrawals, and administrative expenses.

The following represents the disaggregation of contract value between types of investment contracts held by the Plan.

| (In thousands)                      
 Financial assets at contract value: |     | As of December 31, 
 2024               |           |     | 2023 |           |
|:------------------------------------|:----|:-------------------|----------:|:----|:-----|----------:|
| Traditional investment contract     |     | $                  |   665,831 |     | $    |   699,459 |
| Synthetic investment contracts      |     |                    | 2,967,325 |     |      | 3,109,493 |
| Total assets at contract value      |     | $                  | 3,633,156 |     | $    | 3,808,952 |

The key difference between a synthetic investment contract and a traditional investment contract is that the Plan owns the underlying assets of the synthetic investment contract. A synthetic investment contract includes a wrapper contract, which is an agreement for the wrap issuer insurance company to make payments to the Plan in certain circumstances. The wrapper contract typically includes certain conditions and limitations on the underlying assets owned by the Plan. With traditional investment contracts, the Plan owns only the contract itself and there are no reserves against contract value for the credit risk of the contract issuer.

Synthetic and traditional investment contracts are designed to accrue interest based on crediting rates established by the contract issuers. The synthetic investment contracts held by the Plan include three wrapper contracts with the Prudential Insurance Company of America ("PICA"), Voya Retirement Insurance and Annuity Company ("VRIAC"), and Massachusetts Mutual Life Insurance Company ("MassMutual"), each of which provide a guarantee that their crediting rate will not fall below 0 percent. Assets