Company: MSEX
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001174947-25-000318
Chunk: 35

Company: MIDDLESEX WATER CO
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 35
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 |   |     | Total |        |
| Mutual Funds                   |     | $                       | 29,437 |     | $       |      — |     | $       | — |     | $     | 29,437 |
| Money Market Funds             |     |                         |  1,429 |     |         |      — |     |         | — |     |       |  1,429 |
| Agency/US/State/Municipal Debt |     |                         |      — |     |         | 17,486 |     |         | — |     |       | 17,486 |
| Total Investments              |     | $                       | 30,866 |     | $       | 17,486 |     | $       | — |     | $     | 48,352 |

26 Benefit Plans Contributions For the Pension Plan, Middlesex made total cash contributions of $ 2.8million in 2024 and expects to make approximately $ 0.9million of cash contributions in 2025. For the Other Benefits Plan, Middlesex made total cash contributions of $ 0.9million in 2024 and expects to make approximately $ 1.0million of cash contributions in 2025. 401(k) Plan The Company maintains a 401(k) defined contribution plan, which covers substantially all employees (temporary employee needs to complete at least 1,000hours of service to be eligible). Under the terms of the plan, the Company matches 100% of a participant’s contributions, which do not exceed 1% of a participant’s compensation, plus 50% of a participant’s contributions exceeding 1%, but not more than 6%. The Company’s matching contribution was $ 0.8million, $ 0.8million and $ 0.7million for the years ended December 31, 2024, 2023 and 2022, respectively. Employees hired after March 31, 2007 are not eligible to participate in the Pension Plan and are generally eligible to participate in a discretionary profit sharing plan administered through the 401(k) plan. In December each year, the Board of Directors may approve that a stated percentage of eligible compensation be contributed to the account of the employee participant in the first quarter of the following year. For those employees still actively employed on December 31, 2024 or retired during the current year, the Company will fund a discretionary contribution of $ 1.1million before