Dominion Energy Retirement Plan

Dominion Energy Retirement Plan

The Dominion Energy Retirement Plan functions as the corporate defined-benefit vehicle for Dominion Energy, Inc., a publicly traded utility headquartered in Richmond, Virginia. The plan's governance falls under Dominion's executive management, led by Chair, President and CEO Robert M. Blue, with oversight from board-level committees that have included Michael E. Szymanczyk as former Finance and Risk Oversight Committee Chair and current board members Vanessa Allen Sutherland and Paul M. Dabbar serving on the Operations Committee. The plan's investment posture leans heavily into buyout strategies, particularly those aligned with energy infrastructure, a natural extension of the sponsor's regulatory and operational expertise. It maintains specific sleeves for commercial real estate through the Dominion Energy Real Estate Fund and manages a Dominion Money Market Fund for short-term liquidity. The plan operates from Dominion's Richmond headquarters without a dedicated, separately branded investment office. In September 2023, Dominion Energy completed a strategic review resulting in the sale of its gas distribution companies to Enbridge, a transaction that sharpened its focus on state-regulated electric utilities but did not publicly alter the pension plan's funding posture or asset allocation targets. The plan's structural differentiator lies in its alignment with a single operating company's balance sheet and regulatory cycle. Unlike pooled public pension systems, Dominion's plan is shaped by the utility's rate-base economics and corporate credit profile, making its funding decisions and risk appetite a direct reflection of Dominion Energy's financial health and capital expenditure obligations.