Company: MSEX
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001174947-25-000251
Chunk: 1228

Company: MIDDLESEX WATER CO
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7A
Chunk 1228
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1,423)

*Service
cost is included in Operations and Maintenance expense on the consolidated statements of income; all other amounts are included in Other
Income, net.

Amounts that are expected to be amortized from Regulatory Assets into
Net Periodic Benefit Cost in 2025 are as follows:

    (In Thousands)

    Pension
 Plan
      
    Other
Benefits 
Plan
  
    Actuarial Loss (Gain) 
    $50  
    $(1,127)

60 

The discount rate and compensation increase rate for determining our
postretirement benefit plans’ benefit obligations and costs as of and for the years ended December 31, 2024, 2023 and 2022, respectively,
are as follows:

    Pension Plan  
    Other Benefits Plan 

    2024  
    2023  
    2022  
    2024  
    2023  
    2022 
  
    Weighted Average Assumptions: 

    Expected 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.