DFX Intelligence

Allocator Intelligence

The capital-owner graph behind private markets. Who owns the capital, who decides, how much, under what policy, on whose advice, to which managers, and what changed, with a source and a date behind every row. A target is never an actual, a disclosed holding is never an approval, and an estimate says so.

Corporate pension

Pension Plan of Independence Blue Cross

Corporate pensionPhiladelphia, PA
Assets
$687M
Total assets, Dec 31, 2024 reported
Funded
98.3%
Jan 1, 2024
Private markets target
n/a
policy Dec 31, 2024
Commitments
12
none on the tape
Plan sponsor: Independence Blue Cross, LLC
Allocation policy
Form 5500, as of Dec 31, 2024
Actual allocation lines without a target (as filed)
  • Interest-bearing cash 1.7%
  • Non-interest-bearing cash 0.0%
  • Corporate debt instruments (preferred) 3.0%
  • U.S. Government securities 11.9%
  • Other investments 1.0%
  • Partnership/joint venture interests 11.7%
  • 103-12 investment entities 7.1%
  • Registered investment companies 46.7%
  • Common stock 16.7%
Consultants and advisers
4 firms
People
No investment staff or executives have been read for this allocator yet.
Manager roster
1 managers on the commitment tape
From the plan’s own commitment disclosures
From Schedule C (investment management, code 28)
Commitments
12 rows, 0 dated closings
Disclosed holdings (from the plan’s performance or holdings report, as of the report date)
DateFundManagerBucketAmountVintageStatusSource
as of Dec 31, 2024Adams Street 2011 Emerging Mkt Fund103 12 ieAdams Street Partners, LLCPooled vehicles$862,263 heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Adams Street 2011 Non-Us Dev Mkt103 12 ieAdams Street Partners, LLCPublic equity$1.7M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Adams Street 2011 US Fund LP103 12 ieAdams Street Partners, LLCPooled vehicles$3.3M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2024Arrowstreet International Equity103 12 ieArrow Street CapitalPublic equity$43.2M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Adams Street 2011 Emerging Mkt Fund103 12 ieAdams Street Partners, LLCPooled vehicles$1.2M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Adams Street 2011 Non-Us Dev Mkt103 12 ieAdams Street Partners, LLCPublic equity$1.9M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Adams Street 2011 US Fund LP103 12 ieAdams Street Partners, LLCPooled vehicles$3.9M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2023Arrowstreet International Equity103 12 ieArrow Street CapitalPublic equity$43.7M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Adams Street 2011 Emerging Mkt Fund103 12 ieAdams Street Partners, LLCPooled vehicles$1.3M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Adams Street 2011 Non-Us Dev Mkt103 12 ieAdams Street Partners, LLCPublic equity$2.1M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Adams Street 2011 US Fund LP103 12 ieAdams Street Partners, LLCPooled vehicles$4.8M heldDisclosed holdingaskebsa.dol.gov
as of Dec 31, 2022Arrowstreet International Equity103 12 ieArrow Street CapitalPublic equity$35.8M heldDisclosed holdingaskebsa.dol.gov
Size and funding
33 readings
Total assets
$687M Dec 31, 2024 reported Form 5500
$705M (2023-12) · $702M (2022-12)
Plan assets
$642M Jan 1, 2024 reported Form 5500
$639M (2023-01) · $794M (2022-01)
Net assets
$686M Dec 31, 2024 reported Form 5500
$704M (2023-12) · $702M (2022-12)
Funded ratio
98.3% Jan 1, 2024 reported Form 5500
102.8% (2023-01) · 112.9% (2022-01)
Funding target
$571M Jan 1, 2024 reported Form 5500
$579M (2023-01) · $543M (2022-01)
Discount rate
5.18% Jan 1, 2024 reported Form 5500
5.26% (2023-01) · 5.44% (2022-01)
Participants
3,882 Jan 1, 2024 reported Form 5500
3,989 (2023-01) · 4,107 (2022-01)
Contributions
$0 Dec 31, 2024 reported Form 5500
$0 (2023-12) · $0 (2022-12)
Benefits paid
$37.2M Dec 31, 2024 reported Form 5500
$57.4M (2023-12) · $51.7M (2022-12)
Net investment income
$-18.1M Dec 31, 2024 reported Form 5500
$2.6M (2023-12) · $-172M (2022-12)
Investment management fees
$2.1M Dec 31, 2024 reported Form 5500
$1.8M (2023-12) · $3.2M (2022-12)
Form 5500 filings
3 plan years
Plan yearParticipantsAssets (SB market)Funding targetFTAPTotal assets (H)Partnerships / JVMaster trustReal estate
2024 to Dec 31, 20243,882$642M$571M98.3%$687M$80.7Mn/an/a
2023 to Dec 31, 20233,989$639M$579M102.8%$705M$73.5Mn/an/a
2022 to Dec 31, 20224,107$794M$543M112.9%$702M$89.5Mn/an/a
Service providers and investment entities as filed (Schedule C and D, latest year first)
What changed
12 events
  • Dec 31, 2024Manager relationship endedinference
    Great Lakes Advisors, LLC no longer appears on Pension Plan of Independence Blue Cross's Schedule C as investment manager (plan year 2024 vs 2023)
    with Great Lakes Advisorsaskebsa.dol.gov
  • Dec 31, 2024Consultant changedinference
    US Bank Asset Management LLC appears on Pension Plan of Independence Blue Cross's Schedule C as investment adviser (plan) (plan year 2024 vs 2023)
    with US Bankaskebsa.dol.gov
  • Dec 31, 2024Manager relationship endedinference
    Philadelphia Trust Company no longer appears on Pension Plan of Independence Blue Cross's Schedule C as investment manager (plan year 2024 vs 2023)
    with The Philadelphia Trust Co.askebsa.dol.gov
  • Dec 31, 2024Consultant changedinference
    PFM Asset Management LLC no longer appears on Pension Plan of Independence Blue Cross's Schedule C as investment adviser (plan) (plan year 2024 vs 2023)
    with U.S. Bancorp Asset Management, Inc.askebsa.dol.gov
  • Dec 31, 2024Manager relationship endedinference
    Hardman Johnston Global Advisors no longer appears on Pension Plan of Independence Blue Cross's Schedule C as investment manager (plan year 2024 vs 2023)
    with Hardman Johnston Global Advisorsaskebsa.dol.gov
  • Jan 1, 2024Funded status changed
    Pension Plan of Independence Blue Cross funded ratio 102.8% -> 98.3% (2023-01-01 to 2024-01-01)
    askebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Swarthmore Group no longer appears on Pension Plan of Independence Blue Cross's Schedule C as investment manager (plan year 2023 vs 2022)
    with Swarthmore Groupaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Invesco Trust Company no longer appears on Pension Plan of Independence Blue Cross's Schedule C as investment manager (plan year 2023 vs 2022)
    with Invesco Trust Companyaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Brandywine Global Invmt Mgmt LLC no longer appears on Pension Plan of Independence Blue Cross's Schedule C as investment manager (plan year 2023 vs 2022)
    with Brandywine Global Investment Mgmt.askebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Fiduciary Management, Inc. no longer appears on Pension Plan of Independence Blue Cross's Schedule C as investment manager (plan year 2023 vs 2022)
    with Fiduciary Managementaskebsa.dol.gov
  • Jan 1, 2023Funded status changed
    Pension Plan of Independence Blue Cross funded ratio 112.9% -> 102.8% (2022-01-01 to 2023-01-01)
    askebsa.dol.gov
  • Jan 1, 2023Assets changed
    Pension Plan of Independence Blue Cross plan assets $794M -> $639M (-19.6%, 2022-01-01 to 2023-01-01)
    askebsa.dol.gov
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: EIN-PN 463867722-001
Cross-graph: no entry on another DFX graph
First observed Sep 15, 2026, last observed Sep 15, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.