Company: MSEX
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001174947-25-000318
Chunk: 31

Company: MIDDLESEX WATER CO
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 31
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 Return on Plan Assets |     |              | 7.00% |     |      | 7.00% |     |      | 7.00% |     |                     | 7.00% |     |      | 7.00% |     |      | 7.00% |
| Discount Rate for:             |     |              |       |     |      |       |     |      |       |     |                     |       |     |      |       |     |      |       |
| Benefit Obligation             |     |              | 5.47% |     |      | 4.79% |     |      | 4.98% |     |                     | 5.49% |     |      | 4.79% |     |      | 4.98% |
| Benefit Cost                   |     |              | 4.79% |     |      | 4.98% |     |      | 2.72% |     |                     | 4.79% |     |      | 4.98% |     |      | 2.72% |
| Compensation Increase for:     |     |              |       |     |      |       |     |      |       |     |                     |       |     |      |       |     |      |       |
| Benefit Obligation             |     |              | 3.00% |     |      | 3.00% |     |      | 3.00% |     |                     | 3.00% |     |      | 3.00% |     |      | 3.00% |
| Benefit Cost                   |     |              | 3.00% |     |      | 3.00% |     |      | 3.00% |     |                     | 3.00% |     |      | 3.00% |     |      | 3.00% |

The compensation increase assumption for the Other
Benefits Plan is attributable to life insurance provided to qualifying employees upon their retirement. The insurance coverage will be
determined based on the employee’s base compensation as of their retirement date.

The Company utilizes the Society of Actuaries’
mortality table (Pri-2012) (Mortality Improvement Scale MP2021).

For the 2024 valuation, costs and obligations
for our Other Benefits Plan assumed a % annual rate of increase in the per