Company: MSEX
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001174947-25-000251
Chunk: 575

Company: MIDDLESEX WATER CO
Filing Date: 2025-02-28
Form: 10-K
Item: Item 2
Chunk 575
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    $—  
    $—  
    $92,346 

The following tables present Middlesex’s Other Benefits Plan
assets measured and recorded at fair value within the fair value hierarchy:

    (In Thousands) 

    As of December 31, 2024 

    Level 1  
    Level 2  
    Level 3  
    Total 
  
    Mutual Funds 
    $34,545  
    $—  
    $—  
    $34,545 
  
    Money Market Funds 
     977  
     —  
     —  
     977 
  
    Agency/US/State/Municipal Debt 
     —  
     17,505  
     —  
     17,505 
  
    Total Investments 
    $35,522  
    $17,505  
    $—  
    $53,027 

    (In Thousands) 

    As of December 31, 2023 

    Level 1  
    Level 2  
    Level 3  
    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 

63 

Benefit Plans Contributions

For the Pension Plan, Middlesex made total cash
contributions of $2.8 million in 2024 and expects to make approximately $0.9 million of cash contributions in 2025.

For the Other Benefits Plan, Middlesex made total
cash contributions of $0.9 million in 2024 and expects to make approximately $1.0 million 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 1,000 hours of service to be eligible).
Under the terms of the plan, the Company matches 100% of a participant