Molina Healthcare, Inc. 401(k) Review & Grade
Molina Salary Savings Plan
Long Beach, CAHealth Care & Social Assistance17,622 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,412Employer $ per active participant
$7,349Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$1.4BNet plan assets, end of year
$60,800Average balance per account
Score breakdown
- Employer generosity38.2 / 5076th percentile for employer $ per participant
- Low cost13.1 / 2552th percentile for low admin cost vs. same-size plans
- Employee saving13.8 / 1592th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 76th |
| Lower admin cost | 52th |
| Employee saving | 92th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $7,642 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Molina Healthcare put in about $3,412 per active participant, more than the typical peer ($2,086). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $60,127,872 |
| Participant (employee) contributions | $129,510,306 |
| Other contributions (incl. rollovers in) | $37,011,853 |
| Administrative expenses paid from the plan | $1,070,077 |
| Contract administrator fees | $900 |
| Benefits paid out | $141,650,571 |
| Net assets, start / end of year | $1.2B / $1.4B |
| Active participants, start / end of year | 17,031 / 18,213 |
| Participants with account balances | 23,564 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Holthouse Carlin and Van Trigt LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $1,070,077 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250912085342NAL0000708739001, received 2025-09-12, EIN 13-4204626, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.