5.
Deferred Charges and Other Assets
Deferred charges and other assets as of December 31, 2021 and 2020 consisted of the
following:
Recovery
Period
(in thousands) 2021 2020 (in years)
Regulatory assets:
Source development charges S 1,016 S$ 1,004 5-25
Miscellaneous studies 1,099 998 2-25
Unrecovered pension and post-retirement
benefits expense 9,560 14,197
Total regulatory assets 11,675 16,199
Supplemental executive retirement plan asset 841 815
Total deferred charges and other assets S 12,516 § 17,014
"We expect to recover these amounts consistent with the anticipated expense recognition of these assets.
Post-Retirement Benefit Plans
Pension Plan and Other Post-Retirement Benefits
The Company has a non-contributory, defined benefit pension plan (the “DB Plan”) that
covers substantially all employees. The benefits are based on years of service and participant
compensation levels. The Company’s funding policy is to contribute annual amounts that
meet the requirements for funding under the U.S. Department of Labor’s Pension Protection
Act. Contributions are intended to provide not only for benefits attributed to service to date,
but also for those expected to be earned in the future.
22
