Bridgeport Borough Police Pension Plan – Montgomery County – Reduced Period Engagement – Period Ended December 31, 2024

The compliance audit of the Bridgeport Borough Police Pension Plan, conducted under the Municipal Pension Plan Funding Standard and Recovery Act, aimed to assess corrective actions taken following previous findings and ensure compliance with applicable laws and policies. The audit focused on verifying the proper deposit of state aid, accurate calculation of employer and employee contributions, adherence to actuarial reporting timelines, and compliance with provisions related to pension obligation bonds and the Deferred Retirement Option Plan (DROP) during the period from January 1, 2023, to December 31, 2024. The audit confirmed that, overall, the Bridgeport Borough Police Pension Plan was managed in accordance with the relevant regulations and standards. The plan had previously corrected an overpayment issue by reimbursing the Commonwealth. Borough officials cooperated fully, ensuring effective internal controls and compliance with legal requirements. The audit findings were discussed with the officials, and where needed, their responses were incorporated into the report. This is an automated summary. Please rely on the contents included in the released audit report.