Retirement plan

DOMINION ENERGY SALARIED SAVINGS PLAN

DOMINION ENERGY, INC.EIN 54-1229715Plan #001PY 2023
120 TREDEGAR ST, CLEARINGHOUSE 3FL, ATTENTION BENEFITS REPORTING - RICHMOND, VA 232194306877-947-4636dominionenergy.comLinkedIn10001+ employeesutilities
Prospect flagsLow returns

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(877) 947-4636
Plan administrator signer
GEORGE FEARNOW, DIRECTOR-BENEFITS
Signed 06/26/2024
Plan administrator entity
DOMINION ENERGY SERVICES, INC.
EIN 541962730

Summary metrics

Total assets (EOY)
$4263.3M
-4.8% from 2016
Total participants
19,672
+0.2% from 2016
Average account balance
$219,341
-5.3% from 2016
Annual return
11.57%
-12.84 pp from 2016

Benchmarks

Peer group
Industryany (size+type match)
Plan typeDefined contribution
Participants>=10,000
Cohort1,196 peers
Snapshot2023
Participant deferral / active EE
$9,739
median $4,454
Employer contribution / active EE
$5,336
median $2,149
Participation rate
98.3%
median 86.8%
Avg account balance
$219,341
median $66,781
Admin fee / account holder
$177
median $57
Annual return
11.57%
median 18.48%
Overall peer rank
57th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$4.43B
Average account balance
Total assets / participants with a balance (line 6g)
$241K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
18,365
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
97.9%
Contributions (total)
Employer and participant dollars contributed each year
$214.42M
Contributions per participant
Average employer and participant contribution per enrolled participant
$18K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+18.21%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$166
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 1 by compensation
ProviderService typeCompensation
Service code 15 · EIN 04-3516284
Recordkeeping
$3,430,287

Top hat statement on fileNQDC

Filed April 5, 2021 (most recent of 5 filings on file)

Plans declared (1)

  • Dominion Energy, Inc. Deferred Compensation Plan26 emp

Plan features & details

Pension benefit codes2A2E2F2G2J2K2O2S2T3F3H
Plan features
  • 2A
    Age/service weighted or new comparability plan
    Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
  • 2E
    Profit-sharing
    Profit-sharing plan.
  • 2F
    ERISA section 404(c) plan
    This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
  • 2G
    Total participant-directed account plan
    Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • 2J
    Code section 401(k) feature
    Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
  • 2K
    Code section 401(m) arrangement
    Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
  • 2O
    ESOP other than a leveraged ESOP
    Employee stock ownership plan that is not leveraged.
  • 2S
    Automatic enrollment
    Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
  • 2T
    Default investment account
    Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
  • 3F
    Leased employees
    Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped
  • OpportunityLow returns

    Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II
Admin total
$3.4M
$241 / participant
  • Recordkeeping$822K24.0%
  • Trustee / custodial$1K0.0%
  • Investment mgmt$3M76.0%
% of EOY assets
0.080%
all-in expense ratio
Categories reported
3 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
DELOITTE & TOUCHE LLP
Auditor EIN
133891517
Audit fees
(not subdivided)
Opinion code
Unqualified