your 401(k) plan is moving to dominion energy’s ...... · this newsletter provides details about...

Effective the week of May 4, 2020, the SCANA Corporation 401(k) Retirement Savings Plan (the Plan) will transition to the Dominion Energy Salaried Savings Plan recordkeeper, Voya Financial® (Voya). Your current investment options will be replaced with the Dominion Energy investment fund options. See page 4 for details.

This newsletter provides details about the Voya transition, including a temporary account blackout period. You will need to log in to the Special Elections website at SCANA401kelect.com before the blackout to choose new investments. See page 3 for details.

As the Plan recordkeeper, Voya will:• Maintain Plan and participant account records • Deliver Plan information, including investment

education and resources• Provide access to your account through a dedicated

website, mobile app and over the phone• Process and confirm all account transactions.

The move to Voya will help you build personal retirement security by offering a new investment lineup, personalized investment advice and retirement savings guidance. You will also have access to interactive investment tools and planning resources, as well as online, telephone and mobile account access, among many other benefits.

Onsite workshops and webinars get you up to speed Leading up to the transition, Voya education specialists* will hold onsite workshops in certain locations, as well as live webinars, to explain the special elections process and answer questions about Voya services. See the enclosed announcement for specific dates and times for these informative workshops and webinars.

* Educational seminars are provided by registered representatives of Voya Financial Partners, LLC (VFP), a member of the Voya® family of companies.

Table of Contents

Important Dates …………………………………………… 2

Special Elections Website …………………………………3

What’s New? …………………………………………………4

What’s Staying the Same? ……………………………… 6

Enclosures …………………………………………………… 7

Actions You Should Take…………………………………… 8

About Voya FinancialVoya Financial (NYSE: VOYA) is a premier retirement, investment and insurance company servicing the financial needs of millions of individual and institutional customers throughout the United States. Voya Institutional Plan Services, LLC (VIPS), a member of the Voya® family of companies, is the Plan’s recordkeeper. VIPS provides you with Plan information, saving and investing education, transaction processing and more on your journey to retirement.

March 3, 2020

Your 401(k) Plan is moving to Dominion Energy’s recordkeeper and getting new investment fund options

Important DatesIt will take about a week to securely transfer account records to Voya and transfer fund balances into the new funds.

To ensure a smooth recordkeeper transition, there will be a period of time where you will have limited to no access to your Plan account.

During what is known as the “blackout” period, you will not have access to your account and will not be able to perform any account transactions such as fund transfers, contribution changes, or withdrawal requests. It’s important to note that your account balance will remain invested at all times during the blackout, and Plan contributions will continue to be deposited into your account. Please see the enclosed blackout notice for details.

March 23, 2020: Special Elections Website OpensVisit SCANA401kelect.com to make elections for how you would like your existing account balance and future contributions (active employees only) to transfer to Voya. If you do not make elections on this site before 4 p.m., ET, on April 24, 2020, your existing account balance (except for the Dominion Energy Stock Fund), and future contributions (active employees only), will automatically default into an age-appropriate Target Date Fund. See page 3 for more details.

The Special Elections Website is open from March 23 to April 24, 2020.

April 7, 2020All hardship withdrawal applications must be received at Bank of America (Merrill Lynch) to allow time for qualification and processing, prior to the blackout period.

April 21, 2020, After 4 p.m., ET: Limited Account Access Begins at Merrill LynchYou will be unable to make any transactions with Merrill Lynch requested via a paper form (i.e., beneficiary update with spousal consent, loan payoff, or rollover contribution).

April 23, 2020, After 4 p.m., ET: Blackout Period Begins – Restricted Account Access at Merrill LynchAccount records are transferred to Voya. You will not be able to access your account until the transition to Voya is complete.

Week of April 27, 2020Voya will mail you a personal identification number (PIN) in a plain security mailer to your home address. You will need your PIN to access the Plan using the new website and phone number.

Week of May 4, 2020: Blackout Period EndsFull account access using your new PIN will be available through:• New website: DominionEnergy401k.voya.com • Voya Retire mobile app• New phone number: 888-DOM401K (888-366-4015);

Hearing impaired (800-579-5708)

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Special Elections Website Opens March 23Visit SCANA401kelect.com to make elections for how you would like your existing account balance to transfer to Voya, and active employee Plan participants should make your investment elections for future contributions. If you do not make elections on this site before 4 p.m., ET, on April 24, 2020, your existing account balance (except for the Dominion Energy Stock Fund), and future contributions (active employees only), will automatically default into an age-appropriate Target Date Fund. Any portion of your balance in the Dominion Energy Stock Fund will remain in this fund through the transition.

The Special Elections Website is open from March 23 to April 24, 2020.

How to access the Special Elections WebsiteLog in at SCANA401kelect.com to make your investment elections for the SCANA Corporation 401(k) Retirement Savings Plan. It’s easy. You just need your Social Security number and date of birth. Visit SCANA401kelect.com to make your fund choices. Investment options and short descriptions can be found on the back of the enclosed meeting flyer. Fund fact sheets for all of the investment funds can be found on the Special Elections Website and at DE-Carolinas.com.

If you have questions, call 888-DOM401K (888-366-4015) to speak with a Customer Service Associate, weekdays from 8 a.m. to 10 p.m., ET, excluding stock market holidays.

What are Target Date Funds?Target Date Funds are designed to simplify your investment decisions by providing an age-appropriate investment option, with a conservative, moderate or aggressive asset allocation. The year in the fund name refers to the approximate year when you expect to retire. While you may select any Target Date Fund that matches your personal investment preferences, investors often choose the Target Date Fund with the date closest to their planned retirement age.

Each Target Date Fund starts out with more assets in growth-oriented investments, such as stocks, when the target retirement date is far away and there is time to ride out the short-term ups and downs, in order to increase your likelihood of generating better long-term returns. Then, a Target Date Fund gradually shifts its asset allocation over time to invest in more conservative investments, such as bonds and money market funds, which provide more stability as the target retirement year approaches.

The table below shows which Target Date Fund corresponds to your year of birth. Your existing investment options are NOT transferring automatically to Voya.

Important: If you do not make an election on this site before 4 p.m., ET on April 24, 2020, your existing account balance (except for the Dominion Energy Stock Fund) and future contributions (active employees only) will automatically default into an age-appropriate Target Date Fund as shown below, unless you go to SCANA401kelect.com and make your own choices. Any portion of your balance in the Dominion Energy Stock Fund will remain in this fund through the transition.

Year of birth Target Date Fund

Before 1949 Target Retirement Income Trust Plus

1949 – 1952 Target Retirement 2015 Trust Plus










1998 and after Target Retirement 2065 Trust Plus

Target Date Funds target a certain date range for retirement, or the date the investor plans to start withdrawing money. Investors can select the fund that corresponds to their target date. They are designed to rebalance to a more conservative approach as the date nears. An investment in the Target Date Fund is not guaranteed at any time, including on or after the target date.

Make sure to read Actions You Should Take on page 8. 3

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What’s New?These new Plan investment options, tools and services will be available to all Plan participants after the transition.

New investment options including Target Date FundsYou will have access to an entirely new lineup of core individual investment funds plus a full range of Target Date Funds. The Dominion Energy Stock Fund will continue to be offered as an option. Investment options and short descriptions can be found on the back of the enclosed meeting flyer. You can find fund fact sheets for all of the investment funds on the Special Elections Website and at DE-Carolinas.com.

Need help with investing? Get some advice from Voya beginning in MayDesigning a long-term retirement savings strategy, choosing investments that match your risk personality and goals, and then keeping track of your progress over the years can get complicated—and maybe a little overwhelming for some. But help is available. Investment advice is offered through Voya Retirement Advisors (VRA) powered by Financial Engines.1 You can learn more about these services in upcoming workshops and webinars.

You will have three ways to get advice:

1 Speak to an Investment Advisor Representative of Voya Retirement Advisors, LLC (VRA). Get personalized advice from a VRA Representative over the phone, weekdays from 8 a.m. to 8 p.m., ET. There are no additional fees for this service.

2 Online Advice. This service, available at no additional charge to you, is designed for individuals who prefer to manage their own account but want some professional guidance along the way. Use this interactive service to get investment suggestions and see how changes to your retirement and other savings goals may affect your potential monthly retirement income.

Online Advice is available 24 hours a day, 7 days a week through the Plan website at DominionEnergy401k.voya.com. If you have questions, you can speak with a VRA Investment Advisor Representative at no charge.

3 Professional Management. The Professional Management program—available for an additional fee based on your account balance—lets you work one-on-one by phone with a VRA professional. The program offers personalized advice forecasts2, specific savings and fund recommendations, ongoing account management support and quarterly progress reports.

You can cancel the service at any time after you enroll. More information on the VRA advisory services will be available through the Plan website after the transition is complete.

New Fund Lineup (Effective the week of May 4, 2020)

Target Date Funds Individual Core Funds

Asset Class Fund Name Asset Class Fund Name

Target Date Target Retirement Income Trust Plus

Target Retirement 2015 Trust Plus











Money Market Dominion Money Market Fund

Bond Intermediate Bond Fund

1 to 3 Year Bond Fund

International Bond Fund

Multiple Multi-Asset Class Inflation Managed Fund

Large Cap US Stock S&P 500 Index Fund

Small/Mid Cap Stock Small/Mid Cap Equity Index Fund

Emerging Markets Emerging Markets Equity Fund

International International Equity Fund

Real Estate Real Estate Fund

Company Stock Dominion Energy Stock Fund

New Plan Website: DominionEnergy401k.voya.com Beginning the week of May 4, 2020, everything you need to manage your account will be available 24/7 through this website.

Account transaction capabilities include:For active employee participants:• Before-tax and after-tax contribution elections• Catch-up contribution elections (for those age

50 and older)• Automatic contribution escalation on a schedule

you create• Investment elections for current savings

and future contributions• Loan modeling and loan issuance

For all Plan participants: • Automatic account rebalancing • Fund transfers and reallocation

Account management and maintenance capabilities for all Plan participants include:• Beneficiary designations• Statement requests by date range• Details on the investment options• Portfolio performance history• Comprehensive investment and financial planning

educational resources

Voya Customer Service Associates are available now to answer questions about the transition. No PIN is required for this level of information.

New Phone Number: 888-DOM401K (888-366-4015) TDD: 800-579-5708Most of the account transaction and management capabilities that you can perform on the website can also be conducted using the automated telephone system. If you need help with a transaction or have questions about your account, Customer Service Associates will be available weekdays, from 8 a.m. to 10 p.m., ET, excluding stock market holidays.

Manage your account on the goMany account management capabilities are also available through the Voya Retire mobile app, giving you access to your account from any mobile device. Search Voya Retire in your favorite app store. You will need to establish a username and password on the Plan website to use the Voya Retire mobile app.

Go green with eDeliveryWant to eliminate some of the paper delivered to your physical mailbox? Choosing eDelivery is a simple and secure way to get your account statements and correspondence. You’ll never have to worry about documents getting lost in the mail, and you can reduce the need to organize and eventually shred all that extra paper. Account statements for the previous 24-month period are available online 24/7 for you to view at your convenience.

Note: All current work email addresses on file will transfer automatically to Voya. If you want to use a personal email address for eDelivery, please access your account at Voya after May 4th and update your delivery preferences.

Loans, Loan Repayments and ReamortizationActive employees on a leave of absence can request a new loan. Active employees on a leave of absence and terminated employees will now make monthly loan repayments at a reamortized amount. Previously, loan repayments were made bi-weekly.

Elimination of Quarterly Participant Fee Participants will not be charged a quarterly participant fee once the Plan has moved to Voya.

Make sure to read Actions You Should Take on page 8.

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What’s Staying The Same?The Plan will continue to offer these same great features after the transition.

For active employee Plan participants:

Your contributionsYour current contribution elections will transfer automatically. You will continue to have the option of making before-tax and/or after-tax contributions from 1% to 75% of eligible compensation (subject to IRS annual limits and other limits for highly compensated employees). Catch-up contributions for employees age 50 and older will continue to be elected as a dollar value.

Company matching contributionsYou will continue to receive dollar-for-dollar company matching contributions for up to 6% of your pay.

Automatic contribution rate increases If you have a contribution rate escalation schedule in place, your preferences will be maintained after the transition to Voya, and your escalations will continue on the same schedule until you change it. Please note that you won’t be able to set rate escalations for catch-up contributions.

LoansYou will continue to have the option of borrowing from your account with the same limits and requirements as you currently enjoy. You may have a maximum of two loans at any time. If you have two loans and pay one in full, there will be a 12-business-day waiting period when requesting a new loan. Please note: The option for residential loans will be available until December 31, 2020.

For all Plan participants:Automatic account rebalancingIf you have set up automatic account rebalancing, your preferences will NOT transfer to Voya. After the transition is complete, you will need to log in to your account and establish a rebalancing schedule if you want to use this feature.

Beneficiary elections Your current beneficiary designations will transfer over to Voya automatically, but it is a good idea to double check that your beneficiary elections are up to date. If you’ve experienced a major life change recently — such as marriage, the birth of a child, or a divorce — your beneficiary designations may need to be changed. You can make changes on the Plan website after the transition is complete.

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EnclosuresBe sure to read the documents that accompany this Transition Newsletter:

• Schedule of Workshops and Webinars, reverse side of sheet displays investment options and short descriptions.• Important Notice Concerning Your Rights Under the SCANA Corporation 401(k) Retirement Savings Plan

(Blackout Notice)• Retirement Readiness Tools and Resources• Fee Disclosure• Qualified Default Investment Alternatives (QDIA) Notice

Voya Customer Service Associates are available now to answer questions about the transition. No PIN is required for this level of information. Call 888-DOM401K (888-366-4015). Customer Service Associates are available weekdays from 8 a.m. to 10 p.m., ET, excluding stock market holidays.

Please note that Voya Customer Service Associates will not have access to your personal account information until after the transition is complete.

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1 Advisory Services provided by Voya Retirement Advisors, LLC (VRA). VRA is a member of the Voya Financial (Voya) family of companies. For more information, please read the Voya Retirement Advisors Disclosure Statement, Advisory Services Agreement and your plan’s Fact Sheet. These documents may be viewed online by accessing the advisory services link(s) at DominionEnergy401k.voya.com. You may also request these from a VRA Investment Advisor Representative by calling 888-DOM401K (888-366-4015). Financial Engines Advisors L.L.C. (FEA/Financial Engines) acts as a subadvisor for Voya Retirement Advisors, LLC. Financial Engines Advisors L.L.C. (FEA) is a federally registered investment advisor and wholly owned subsidiary of Edelman Financial Engines, LLC. Neither VRA nor FEA provides tax or legal advice. If you need tax advice, consult your accountant or if you need legal advice consult your lawyer. Future results are not guaranteed by VRA, FEA or any other party and past performance is no guarantee of future results. Financial Engines® is a registered trademark of Edelman Financial Engines, LLC. All other marks are the exclusive property of their respective owners. FEA and Edelman Financial Engines, L.L.C. are not members of the Voya family of companies.

©2019 Edelman Financial Engines, LLC. Used with permission. 2To enroll in Professional Management, you may be required to enter into a services agreement with VRA. Dominion Energy does not review individual participant services agreements. You should consider seeking your own independent legal advice regarding your rights and obligations under the services agreement. Professional Management fees are 0.45% for the first $250,000 and 0.30% for balances over $250,000.

SCANA Corporation 401(k) Retirement Savings Plan This newsletter is a brief, non-technical description of certain provisions of the 401(k) Plan. It is not intended to be a complete statement of Plan provisions. If a description in this newsletter differs from the Plan documents, the Plan documents prevail. For additional information regarding the Plan, please refer to the Summary Plan Description (SPD). Dominion Energy reserves the right to amend the Plan at any time.

©2020 Voya Services Company. All rights reserved.

CN1045811_1221 SCANA 401(k)_Trans_Nltr_02.20

Actions You Should Take Understand the actions in the Important Dates section on page 2 so you can take care of any necessary account transactions before the blackout period restricts access to your account. Read the enclosed blackout notice for details on the blackout period.

Log in to the Special Elections website at SCANA401kelect.com between March 23 and April 24, 2020 to choose how you want to invest your existing account balance and future contributions (active employees only) in the new fund options. If you don’t elect your new funds, your current account balance and future contributions (except for the Dominion Energy Stock Fund) will be invested in a single age-appropriate Target Date Fund.

Attend an onsite workshop or webinar. These sessions will explain the special elections process, answer questions about Voya services and help you to learn more about the new Plan features and benefits. See the enclosed schedule for specific dates and times.

Watch for your new PIN coming in the mail from Voya the week of April 27, 2020. Use your PIN to log in to the new Plan website after May 4, 2020.

• When you log in for the first time, be sure to register your account. Select Register Now and follow the instructions to personalize your account access and set up a strong password. This will make your personal and financial information more secure and help protect your account from cyber threats, hacking and other unauthorized access.

If you have questions about the transition, please call Voya at 888-DOM401K (888-366-4015). Customer Service Associates will be available weekdays from 8 a.m. to 10 p.m., ET, excluding stock market holidays. Please note that Voya Customer Service Associates will not have access to your personal account information until after the transition is complete.

Retirement Readiness Tools and ResourcesCheck out these great tools and resources offered by Voya Financial which will be available to you the week of May 4, 2020.

Voya Retire mobile appThe Voya Retire mobile app is a fast and easy way to access your retirement account, manage your savings and evaluate whether you’re on track toward reaching your goals—on the go! Search Voya Retire in your favorite app store.1

myOrangeMoney web experience2

myOrangeMoney is an educational, interactive online experience that shows you how your current retirement savings may translate into monthly retirement income. It shows you where you stand today, highlights areas that need improvement, and lets you take immediate action to improve your readiness. Orange Money is the money you need to save for retirement, versus green money, which can be spent now. This back-to-basics approach helps you see the steps you need to follow to take control of your financial future.

People with special needs and their caregivers can also use myOrangeMoney to visualize their retirement goals and progress. myOrangeMoney will take your unique circumstances into account with eligibility for government programs, such as:

• Supplemental Security Income (SSI)

• Social Security Disability Insurance (SSDI)

Financial Wellness experience2

Financial Wellness is about the balance of living for today, saving for tomorrow and building confidence along the way. There are small steps you can take to understand your complete financial situation. To help guide you, Voya is proud to bring you the Financial Wellness experience. Take your personal assessment at voyadelivers.com/fw/ to gain insights that will help you take meaningful actions for your financial future.

Personal financial dashboard2

Try our web-based tool that enables you to organize, integrate, and manage all of your financial information on one comprehensive and intuitive digital platform.

Voya Cares®

Voya Cares is a program at the heart of Voya’s culture, offering people with disabilities and special needs, as well as their caregivers, access to financial wellness and retirement planning solutions. Voya Cares provides you with a variety of resources that are available how and when you need them. The online resource center provides access to educational articles, white papers and informational brochures.

Topics include:• Planning checklist • Understanding government benefit• Key considerations • Filling the financial gap• Creating a letter of intent • Fully integrating employee benefits

Visit voyacares.com for more information.

Voya Financial blog for savings and investing Check out the Voya Financial blog for the latest information to help you with your goal of saving and planning for retirement. Visit blog.voya.com to find out more.

1 App Store is a service mark of Apple Inc. Android is a trademark of Google Inc. Amazon and Kindle are trademarks of Amazon.com, Inc. or its affiliates. 2 IMPORTANT: The illustrations or other information generated by the calculators are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. This information does not serve, either directly or indirectly, as legal, financial or tax advice and you should always consult a qualified professional legal, financial and/or tax advisor when making decisions related to your individual tax situation.

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IMPORTANT NOTICE CONCERNING YOUR RIGHTS UNDER THE SCANA CORPORATION 401(k) RETIREMENT SAVINGS PLAN March 3, 2020 This notice is to inform you of the upcoming changes to the SCANA Corporation 401(k) Retirement Savings Plan (the Plan). On or about May 4, 2020 you can expect the following changes to your Plan:

• The recordkeeper will change from Merrill Lynch to Voya Financial • The trustee will change from Bank of America to Northern Trust • New investment options managed by various investment advisors will be offered. These

fund options, which are listed on page four of the enclosed Transition Newsletter, will replace many of the Plan’s current options.

As a result of these changes, you temporarily will be unable to access your Plan account and conduct transactions such as distribution, loan and withdrawal requests; beneficiary designations or changes; and directing or diversifying investments in your Plan account. The period during which you will be unable to exercise these rights otherwise available under the Plan is called a “blackout period.” Pre-Blackout Limits on Paper-Based Transactions Beginning on April 7, 2020, at 4 p.m., Eastern Time (ET), you will be temporarily unable to submit paper forms for hardship withdrawals from your account under the SCANA Corporation 401(k) Retirement Savings Plan. Beginning on April 21, 2020, at 4 p.m., ET, you will be temporarily unable to submit paper forms for rollover contributions, loan payoffs and beneficiary updates requiring spousal consent for your account under the SCANA Corporation 401(k) Retirement Savings Plan. Automated transactions through the Plan’s website will continue to be accepted until April 23, 2020 at 4 p.m., Eastern Time (ET), the beginning of the blackout period. Blackout Period The blackout period will begin on April 23, 2020, at 4 p.m., ET, and is expected to be completed no later than the week of May 4, 2020. During the blackout period, you will be unable to direct or diversify the investments held in your SCANA Corporation 401(k) Retirement Savings Plan account. For this reason, it is very important that you review and consider the appropriateness of your current investments in light of your inability to direct or diversify those investments during the blackout period. For your long-term retirement security, you should give careful consideration to the importance of a well-balanced and diversified investment portfolio, taking into account all your assets, income and investments. Whether or not you are planning retirement in the near future, we encourage you to carefully consider how this blackout period may affect your retirement planning, as well as your overall financial plan.

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You should also be aware that there is a risk to holding substantial portions of your assets in the securities of any one company, including the Dominion Energy Stock Fund, as individual securities tend to have wider price swings in short periods of time than investments in diversified funds. Stocks that have wide price swings might have a large loss during the blackout period, and you would not be able to direct the sale of such stocks from your Plan account during the blackout period. By May 4, 2020, you can determine whether the blackout period has ended by calling 888-DOM401K (888-366-4015). You can also access the Plan online at DominionEnergy401k.voya.com. You will be asked for your Social Security number and your six-digit PIN (mailed to your home address during the week of April 27). For More Information If you have any questions concerning this notice, please call 888-DOM401K (888-366-4015). Customer Service Associates are available weekdays from 8 a.m. to 10 p.m., ET, excluding stock market holidays.

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