Albion Borough Police Pension Plan – Erie County – Reduced Period Engagement – Period Ended December 31, 2024

The compliance audit of the Albion Borough Police Pension Plan was conducted under the authority of the Municipal Pension Plan Funding Standard and Recovery Act to ensure compliance with state laws, regulations, contracts, administrative procedures, and local policies. The audit covered the period from January 1, 2024, to December 31, 2024, focusing on proper state aid and employer contributions and confirming no active members impacted employee contributions and benefit calculations. Furthermore, the actuarial valuation report due by March 31, 2024, complied with Act 205, required for participating in the state aid program. These efforts confirmed compliance in all significant respects, ensuring the proper administration of the Pension Plan. Albion Borough is responsible for maintaining controls to administer the plan according to legal standards. Supplementary information for further analysis is included but was not audited. Albion Borough officials cooperated fully, and the audit’s findings were acknowledged and addressed. This is an automated summary. Please rely on the contents included in the released audit report.