Cheltenham Township Non-Uniformed Salaried Employees Pension Plan – Montgomery County – Reduced Period Engagement – Period Ended December 31, 2024

A compliance audit was conducted on Cheltenham Township’s Non-Uniformed Salaried Employees Pension Plan to ensure adherence to state laws, regulations, and local policies. The audit verified the management of state aid, employer contributions, employee contributions, and retirement benefits according to legal specifications for the period from January 1, 2024, to December 31, 2024. The audit concluded that the pension plan was generally managed in compliance with applicable standards; however, an issue was identified regarding incorrect data on Certification Form AG 385. This error led to a net overpayment of state aid due to misreporting ineligible employees as active participants. The audit recommended enhancing internal controls and understanding of certification instructions to prevent future errors. Township officials were cooperative throughout the audit process, and a detailed discussion with them incorporated their responses into the report. Overall, the plan largely complied with the necessary requirements for the noted period. This is an automated summary. Please rely on the contents included in the released audit report.