Company: MSEX
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001174947-25-000318
Chunk: 29

Company: MIDDLESEX WATER CO
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 29
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 date for all of its employee
benefit plans. The tables below set forth information relating to the Company’s Pension Plan and Other Benefits Plan for 2024 and
2023.

| Change in Projected Benefit Obligation: |     | (In Thousands)           
 Pension Plan             
 Years Ended December 31, 
 2024                     |        |   |     | 2023 |        |   |     | Other Benefits Plan 
 2024                |        |   |     | 2023 |        |   |
|:----------------------------------------|:----|:-------------------------|-------:|:--|:----|:-----|-------:|:--|:----|:--------------------|-------:|:--|:----|:-----|-------:|:--|
| Beginning Balance                       |     | $                        | 91,853 |   |     | $    | 87,788 |   |     | $                   | 28,000 |   |     | $    | 32,909 |   |
| Service Cost                            |     |                          |  1,270 |   |     |      |  1,551 |   |     |                     |    320 |   |     |      |    391 |   |
| Interest Cost                           |     |                          |  4,280 |   |     |      |  4,270 |   |     |                     |  1,313 |   |     |      |  1,608 |   |
| Actuarial (Gain) Loss                   |     |                          | (5,478 | ) |     |      |  1,966 |   |     |                     |   (486 | ) |     |      | (5,968 | ) |
| Benefits Paid                           |     |                          | (4,424 | ) |     |      | (3,722 | ) |     |                     |   (946 | ) |     |      |   (940 | ) |
| Ending Balance                          |     | $                        | 87,501 |   |     | $    | 91,853 |   |     | $                   | 28,201 |   |     | $    | 28,000 |   |

22

| Change in Fair Value of Plan Assets: |     | (In Thousands)           
 Pension Plan             
 Years Ended December 31, 
 2024                     |        |   |     |