Michelle Mills v. Molina Healthcare, Inc.

Introduction 1. This case is a class action alleging that Defendants breached their fiduciary duties and engaged in prohibited transactions in violation of the Employee Retirement Income Security Act of 1974 (ERISA). 2. Plaintiffs were participants in the Molina Salary Savings Plan (the Plan), a defined-contribution, individual-account, employee pension plan that Defendant Molina Healthcare, Inc. (Molina) sponsors for its employees

1 The characterization of a finding as one of “fact” or “law” is not controlling. To the extent that a finding is characterized as one of “law” but is more properly characterized as one of “fact” (or vice versa), substance shall prevail over form. under the Employee Retirement Income Security Act of 1974. Plaintiffs challenge the selection and retention of the flexPATH Index target date funds (TDFs) as the Plan’s qualified default investment alternative (QDIA)—the investment that would be selected for a Plan member who did not choose a different option. 3. Molina is the Plan’s sponsor under 29 U.S.C. § 1102(a)(1) and the Plan’s administrator under 29 U.S.C. § 1002(16). 4. Named Plaintiffs Michelle Mills, Coy Sarell, Chad Westover, Brent…