South Waverly Borough Non-Uniformed Pension Plan – Bradford County – Reduced Period Engagement – Period Ended December 31, 2024

A compliance audit was conducted for South Waverly Borough’s Non-Uniformed Pension Plan in Bradford County, Pennsylvania, for the period January 1, 2023, to December 31, 2024. The audit was performed under the Municipal Pension Plan Funding Standard and Recovery Act, ensuring the plan complies with state laws and local policies. The objectives included verifying corrective actions from prior findings and assessing plan administration compliance. Evidence showed municipal officials addressed previous findings by improving record-keeping. The pension plan was found compliant with state laws, with state aid properly deposited within required timelines and employer contributions accurately calculated. No employee contributions were required for the audited period, and the actuarial valuation report was properly prepared and submitted. The plan is part of the Pennsylvania Municipal Retirement System, which handles investments and administration for participating municipalities. This is an automated summary. Please rely on the contents included in the released audit report.