Dominion Energy Ohio Union Retiree Health and Welfare Plan

Dominion Energy Ohio Union Retiree Health and Welfare Plan

The Dominion Energy Ohio Union Retiree Health and Welfare Plan is a single-employer welfare benefit plan structured under the Employee Retirement Income Security Act of 1974 (ERISA). It provides post-retirement medical, prescription drug, and other health-related benefits to eligible former union employees of Dominion Energy's Ohio natural gas distribution operations. The plan's participant base is limited to retirees covered under the collective bargaining framework negotiated with Utility Workers Union of America (UWUA) Local G-555 — a union that represents roughly half of Dominion's Ohio workforce — which determines the scope of benefits and the employer contribution obligations that fund the trust. The plan's assets are likely pooled within larger Dominion Energy benefit program investment structures, most notably the Dominion Resources Defined Benefit Master Trust, rather than maintained in a standalone vehicle with independent investment governance. While the trust's specific investment policy statement is not publicly available, similar retiree welfare plans typically allocate across a conservative mix of fixed-income instruments, short-duration bonds, and money-market funds to match near-term benefit payment obligations to an aging retiree population. Equity exposure, when present, tends to be limited due to the short liability horizon. The plan does not deploy capital into venture, private equity, or direct investment programs. The plan is overseen by Dominion Energy's corporate benefits department, which manages investment selection and actuarial funding determinations alongside external trustees. No dedicated CIO or separate investment committee for this specific plan is publicly identified. The plan's most distinctive structural feature is its closed nature — it covers a fixed, non-growing group of union retirees in Ohio, meaning the liability profile declines predictably over time as the participant population ages. This makes it actuarially simpler than open pension funds but reduces operational relevance to external allocators who might seek active mandates. The plan's architecture as a collectively bargained health and welfare trust tied to a single employer's Ohio utility operations is a niche. It represents one of many such legacy benefit pools managed alongside Dominion's larger pension and defined-benefit obligations, offering limited visibility into independent investment activity but serving as a structural reminder of the layered benefit obligations still carried by regulated utility holding companies.