Due to inclement weather, the Pension Boards’ offices in New York City will be closed on Wednesday, March 21. Our staff will be monitoring e-mails as well as our toll-free phone number, and will respond to requests to the degree possible. If you have sent a request by regular mail, we will respond when the weather permits our return to our office. We apologize for any inconvenience.
On March 8, the Pension Boards was notified that an agreement had been reached by Cigna to acquire Express Scripts, the pharmacy benefit manager for the UCC Non-Medicare and Medicare Supplement with Rx Plans. The acquisition is expected to close by the end of the year and is subject to shareholder and regulatory approval.
A memorial service for Dr. John Ordway, past Executive Vice President of the Pension Boards who died on April 3, 2017, will be held on Saturday, April 21, 2018, at 1:30 p.m. (ET) at Naples Congregational United Church of Christ in Naples, Florida. A reception will follow the service.
Market Update by David A. Klassen, Chief Investment Officer
With the Dow Jones Industrial Average, the S&P 500 index, and other global equity markets now selling off after a strong January, we wanted to provide our perspective on both the price action and the pickup in volatility.