Company: MSEX
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001174947-25-000318
Chunk: 32

Company: MIDDLESEX WATER CO
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 32
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 capita cost of covered healthcare benefits in 2024 with
the annual rate of increase declining % per year for 2025-2044, resulting in an annual rate of increase in the per capita cost of
covered healthcare benefits of % by year 2045.

A one-percentage point change in assumed healthcare cost trend rates
would have the following effects on the Other Benefits Plan:

|                                                   |     | (In Thousands)     
 1 Percentage Point 
 Increase           |       |     | Decrease |        |   |
|:--------------------------------------------------|:----|:-------------------|------:|:----|:---------|:-------|:--|
| Effect on Current Year Service and Interest Costs |     | $                  |   228 |     | $        | (184   | ) |
| Effect on Projected Benefit Obligation            |     | $                  | 3,434 |     | $        | (2,824 | ) |

The following benefit payments, which reflect expected future service,
are expected to be paid:

| Year      |     | (In Thousands) 
 Pension Plan   |        |     | Other Benefits Plan |        |
|:----------|:----|:---------------|-------:|:----|:--------------------|-------:|
| 2025      |     | $              |  5,412 |     | $                   |  1,303 |
| 2026      |     |                |  5,399 |     |                     |  1,368 |
| 2027      |     |                |  5,479 |     |                     |  1,410 |
| 2028      |     |                |  5,595 |     |                     |  1,444 |
| 2029      |     |                |  5,581 |     |                     |  1,541 |
| 2030-2034 |     |                | 29,746 |     |                     |  8,682 |
| Totals    |     | $              | 57,212 |     | $                   | 15,748 |

24

Benefit Plans Assets

The allocation of plan assets at December 31, 2024 and 2023 by asset
category is as follows:

|                         |     | Pension Plan |        |     |      |        |     |        |     |     | Other Benefits Plan |        |     |      |        |