Lincoln Township Non-Uniformed Pension Plan – Somerset County – Reduced Period Engagement – Period Ended December 31, 2024

The compliance audit of the Lincoln Township Non-Uniformed Pension Plan, conducted under the authority of the Municipal Pension Plan Funding Standard and Recovery Act, assessed the plan’s adherence to applicable state laws, regulations, contracts, administrative procedures, and local ordinances. The objectives included evaluating corrective actions taken on prior findings and ensuring compliance with state laws for the periods January 1, 2023, to December 31, 2024. The audit confirmed that township officials complied significantly with legal and regulatory requirements. Historical trend analysis showed the plan to be financially strong, with assets consistently exceeding liabilities, enhancing its financial robustness. The engagement also noted that officials adopted Ordinance No. 2021-1, improving plan governance. While the PMRS handles the plan’s fund, financials were not audited for this report. This is an automated summary. Please rely on the contents included in the released audit report.