Do you work at Cigna?
Get expert insights from financial advisors who specialize in helping Cigna employees and executives make the most of their compensation package and benefits.
Looking for a financial advisor who specializes in working with Cigna employees? You’re in the right place. Below, you’ll find advisors who understand Cigna benefits and compensation — along with their answers to common financial questions from Cigna employees and executives.
Whether you recently joined Cigna or you’ve advanced into a management or executive leadership role over a multi-year career, making smart decisions about your income and Cigna benefits can have a lasting impact on your financial future. For example:
✅ Do you know the right moves to get the greatest value from the Cigna benefits available to you?
✅ If you’re thinking about leaving Cigna for another job or planning to retire in a few years, are you taking the right steps today to receive all the compensation and benefits you’ve earned?
Key Takeaways
Cigna’s After-Tax 401(k) and In-Plan Roth Conversions Are Underused
Employees who have maxed out pre-tax or Roth contributions can keep saving after tax and convert those dollars to Roth each year, a path to tax-free growth for high earners who can’t contribute to a Roth IRA directly.
Cigna Restricted Stock, Performance Stock, and Options Each Have Different Tax Treatment
Each equity component works differently, is taxed differently, and is treated differently if you leave. Understanding what could be forfeited is essential before accepting a new role.
Plan Ahead to Avoid Large April Tax Bills from Cigna Bonuses and Equity
Under-withholding on bonuses and stock compensation often leaves employees with big tax bills, plus possible interest and penalties. Tax planning throughout the year prevents surprises.
Why Cigna Employees Work with a Specialist Financial Advisor
Throughout the year, Cigna provides its employees and executives with updates about their benefits, ranging from health insurance and health savings accounts to retirement plans like a 401(k) with after-tax contributions and in-plan Roth conversions and, for eligible employees, deferred compensation — along with equity compensation such as restricted stock, performance stock, and stock options. While the company offers many useful resources and access to knowledgeable staff who can assist with questions, you’ll also find financial professionals not affiliated with Cigna who specialize in helping Cigna employees make the most of their income and benefits.
The Cigna Group is headquartered in Bloomfield, Connecticut, and its employees work across the country, including large operations in the Philadelphia area; Nashville, Tennessee; and St. Louis, Missouri, home of its Express Scripts pharmacy benefit business. Whether you work at one of those sites, another office, or remotely from home, you may have questions about your compensation package and benefits better suited for a financial professional who can offer unbiased advice and guidance.
Sensitive topics — like the steps you should take before quitting your job at Cigna to work elsewhere, protecting yourself in advance of a corporate layoff, or deciding when you should plan to retire — are all conversations that may be more comfortable with a trusted financial advisor.
Should You Hire a Cigna Specialist or a Local Financial Advisor?
You’ll likely find dozens of nearby financial advisors well-suited to help you reach your money goals with a personalized plan. But it can be harder to find a financial advisor who specializes in serving Cigna employees. Fortunately, many financial advisors offer virtual services, so you can meet online no matter where you (or they) live — which means you can hire a specialist financial advisor who lives hundreds of miles away if their knowledge and experience working with Cigna employees is the better fit for your unique needs.
💡 In the Q&A below, you’ll gain insights from financial advisors who work with Cigna employees to help them make smart decisions, get the most value from their compensation and benefits, reduce their money stress, and prepare for a comfortable retirement.
🙋♀️ Have a question not yet answered? Use the form below to submit your question. You can also contact financial advisors directly to set up an introductory call or contact them with your questions.
Q&A: Financial Planning Tips for Cigna Employees & Executives
In this section, you’ll learn how you can make the most of your Cigna employee benefits and gain valuable tips from financial advisors who specialize in working with Cigna employees and executives.
Financial Advisor Q&A · Cigna Employees
Ryan Langan, CFP®
YOURPATHFi · West Chester, PA · Serves clients nationwide
Flat-Fee Retirement Planning And Investment ManagementRyan Langan is a financial advisor based in Philadelphia, Pennsylvania, who specializes in offering financial planning services to Cigna employees. Ryan helps his clients get the most value from their Cigna benefits and compensation package so they can enjoy life and feel confident about their financial future.
QAs a financial advisor with experience helping Cigna employees save for their retirement, how do you help them make the most of their employee benefits?
Cigna offers a wide variety of benefits to its employees. There are elections that need to be made for the employee’s 401(k), deferred compensation, and health savings plans. I first ensure I understand the client’s specific financial situation and goals, and then we can determine how to optimize the various benefits and retirement savings.
QIs there a particular benefit available to Cigna employees you feel isn’t as well utilized or understood by employees as it should be?
The Cigna 401(k) plan has an after-tax contribution option, allowing employees to save additional retirement dollars on top of their annual pre-tax or Roth max contribution limit. This allows individuals who have already maxed out their pre-tax and/or Roth contributions to continue saving more money in their 401(k) on an after-tax basis.
The 401(k) plan also has an in-plan Roth conversion feature, allowing employees to convert their after-tax contributions to Roth annually to take advantage of tax-free growth. Employees are only taxed on their earnings at the time of conversion. At separation from Cigna, employees can roll the Roth funds into a Roth IRA. This strategy allows individuals with higher incomes who are ineligible for direct Roth IRA contributions to still benefit from tax-free growth and withdrawals in retirement.
QBeyond Cigna employee benefits for retirement savings, are there other types of benefits offered by the company that you find valuable to discuss with your clients?
Many Cigna employees receive a portion of their compensation in Cigna company stock split between Restricted Stock, Performance Stock, and Stock Options. Each equity component works slightly differently, carries different tax treatments, and should be managed appropriately. It is essential to consider the tax obligations and strategies to buy and sell company equity based on their specific financial situation, which is a core focus of my planning.
QFor Cigna employees thinking about leaving the company to accept a job elsewhere, what actions do you recommend they take before resigning and shortly thereafter?
For those with stock compensation, it is important to understand what employees may be leaving on the table if they choose to take a new role. Each stock component is treated differently upon separation, and if not managed appropriately, it can be forfeited. If stock compensation is forfeited, it is important that employees reach out to their new employer to see if there is an option to compensate for the forfeited stock. Another item is to consider deferred compensation elections and how those will be paid out upon separation, as that will have tax implications to manage around.
QFor Cigna employees who have managed their finances on their own to this point, what would you suggest they consider to help them decide if they should begin working with a financial advisor at this stage in their lives?
As employees advance in their careers at Cigna, stock compensation can become a more significant portion of their overall earnings. This can present challenges when managing their taxes and the concentration of company stock as part of their overall investment portfolio. Stock compensation can also have a substantial impact on funding life goals, such as retirement or children’s college costs. My goal as a financial planner is to take the burden of managing these challenges off their plate so that my clients can focus on their careers and families, knowing that their finances are proactively taken care of.
QWhat are some of the unique financial planning challenges you commonly see among your clients who are Cigna employees and how do you help them overcome these obstacles?
As a Cigna employee with equity compensation, the biggest financial challenge most clients encounter is related to tax planning. With the taxation of bonuses and stock compensation, most of the time, employees are left with large tax bills due each April. If the appropriate payments are not made, this can add interest and penalties on top of a large liability. I help clients with tax planning throughout the year to ensure there are no surprises when tax time comes, and we work through strategies to help ease the tax burden where possible.
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About the Author
Brian Thorp
Founder & CEO, Wealthtender · Editor-in-Chief
Brian Thorp is the founder and CEO of Wealthtender and serves as Editor-in-Chief. With over 25 years in the financial services industry — including nearly 22 years at Invesco, where he led strategic partnerships with wealth management firms representing more than $100 billion in assets — Brian founded Wealthtender to help people find financial advisors they can trust and make more informed money decisions.
A member of the National Society of Compliance Professionals and its SEC Marketing Rule Working Group, Brian was recognized by WealthManagement.com as one of its “Ten to Watch in 2024” for his work reshaping how financial advisors market their services. He holds a B.B.A. in Finance from The University of Texas at Austin.
Brian and his wife live in Austin, Texas.