Dominion Energy, Inc. 401(k) Review & Grade
Dominion Energy 401(k) Plan
Richmond, VAUtilities13,194 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,932Employer $ per active participant
$10,319Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$4.4BNet plan assets, end of year
$241,297Average balance per account
Score breakdown
- Employer generosity40.5 / 5081th percentile for employer $ per participant
- Low cost14.6 / 2558th percentile for low admin cost vs. same-size plans
- Employee saving12.3 / 1582th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score77 / 100 · Grade A
This plan vs. peers
Peers: all industries, plans with 10,000+ active participants (fewer than 30 industry peers) (820 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 81th |
| Lower admin cost | 58th |
| Employee saving | 82th |
| Peers that auto-enroll | 50% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Dominion Energy put in about $5,932 per active participant, more than the typical peer ($2,229). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $78,266,883 |
| Participant (employee) contributions | $136,156,005 |
| Other contributions (incl. rollovers in) | $9,848,846 |
| Administrative expenses paid from the plan | $3,050,866 |
| Investment advisory & management fees | $3,050,866 |
| Benefits paid out | $822,055,651 |
| Net assets, start / end of year | $4.3B / $4.4B |
| Active participants, start / end of year | 14,237 / 12,152 |
| Participants with account balances | 18,365 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche LLP |
| Employer stock held by plan | $585,860,311 |
Largest service providers (Schedule C)
| Voya Institutional Plan Svcs LLC | $2,893,609 reported compensation |
| Voya Institutional Plan Svcs LLC | $157,258 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250723145055NAL0008999170001, received 2025-07-23, EIN 54-1229715, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.