Page 145 - Martin Marietta - 2025 Proxy Statement

NOTES TO FINANCIAL STATEMENTS (Continued)
Weighted-average assumptionsusedtodetermine net periodicbenefit cost forthe yearsended December31are:

2024 2023 2022
Discount rate 5.58% 5.88% 3.44%
Rate of increase in future compensation levels 4.50% 4.50% 4.50%
Expected long-term rateofreturnonassets 6.75% 6.75% 6.75%

Theexpectedlong-term rate of return on pension fundassets is basedonthe current assetclass mix of the Company'spension
planassets,current capital marketconditionsand astochastic forecastoffutureconditions.
AsofDecember31, 2024 and 2023, the Company estimatedthe remaininglives of participants in the pension plansusing thePri-
2012 Base tables. The no-collartable wasused for salaried participants andthe blue-collartable wasused for hourly participants;
the tables were adjusted to reflect boththe mortality experienceof the Company’sparticipantsand ageospatial mortalityanalysis.
The Companyusedthe MP-2020 mortality improvementscale for2024 and 2023.

Retirement plan assets are invested inlistedstocks, bonds, realestate, private infrastructureand cash equivalents. Thetarget
allocation for2024 andthe actual pensionplanassetallocation by assetclass areas follows:

Percentage of Plan Assets
2024
Target December 31
Asset Class Allocation 2024 2023
Equity securities 56% 58% 53%
Debt securities 28% 22% 27%
Real estate 10% 10% 12%
Private infrastructure 6% 8% 8%
Cash 0% 2% 0%
Total 100% 100% 100%

The Company’s investment strategy is forequity securities to be invested in mid-sizedtolarge capitalizationU.S. funds, and small
capitalization, internationaland emerging growth funds. Debtsecurities, orfixed income investments, are invested in funds
benchmarkedtothe Barclays U.S. Aggregate Bond Index.

024 Annual Report ♦ Page 37