Dominion Energy Retirement Plan

Investment oversight ultimately resides with Dominion Energy's executive management team, led by Chair, President and CEO Robert M. Blue. The plan's governance structure historically included a Finance and Risk Oversight Committee, whose responsibilities have been absorbed by the current Operations Committee, where board members Vanessa Allen Sutherland and Paul M. Dabbar serve. Day-to-day portfolio management responsibilities are typically delegated to internal treasury staff and external consultants, though specific named investment officers are not publicly disclosed.

As a corporate pension plan sponsored by a rate-regulated utility, the plan's funding health is tied directly to Dominion Energy's ability to recover costs through customer rates, as approved by state regulators. This creates a structurally conservative backdrop — funding volatility can become a regulatory issue — but it also allows the plan to lean into long-duration assets, particularly energy infrastructure, where the sponsor has deep domain expertise. The presence of an inflation-managed collective trust in the portfolio further reflects a liability-matching mindset shaped by utility economics.

Dominion Energy's corporate strategy, particularly after its 2023 gas distribution divestiture, has pivoted toward regulated electric utility operations and offshore wind development. While the pension plan does not publish its individual holdings, its structural alignment with the sponsor's strategic direction and its explicit buyout focus on energy-related investments make energy transition and regulated infrastructure natural areas of concentration for the portfolio.

The plan's documented structure includes multiple collective investment trusts and a dedicated real estate fund, indicating a mix of commingled and carve-out vehicles rather than purely direct investing. The dominant strategy tag is buyout, suggesting commitments to external private equity managers as the primary deployment channel, with internal management reserved for liquid assets like the money market fund.

Dominion Energy's pension funding status is disclosed in the company's annual 10-K filings with the SEC, where it appears in the footnotes under employee benefit plans. These filings provide the actuarial assumptions, funded status percentage, and projected contributions. The plan's health is a closely watched metric among utility credit analysts, as underfunded pension obligations can pressure the sponsor's balance sheet and, by extension, its rate-case positions.

The Dominion Energy Charitable Foundation is a separate philanthropic entity funded by the corporation, not the pension trust. It makes grants focused on community needs in the regions Dominion Energy serves. There is no operational or fiduciary connection between the foundation's assets and the retirement plan's investment portfolio.