Marcus Hook Borough Police Pension Plan – Delaware County – Reduced Period Engagement – Period Ended December 31, 2024

A compliance audit of the Marcus Hook Borough Police Pension Plan was conducted under the Municipal Pension Plan Funding Standard and Recovery Act (Act 205 of 1984). The audit aimed to ensure the plan’s compliance with state laws, contracts, and other regulations for a period ending December 31, 2024. Auditors checked the proper calculation and deposit of state aid, employer, and employee contributions in accordance with applicable laws. They also verified compliance with the Deferred Retirement Option Plan (DROP) provisions and reviewed actuarial valuation reports for submission compliance. The audit found the pension plan administered in compliance with legal requirements. However, a prior audit issue regarding an unauthorized nonservice-related disability benefit persists, which could impact funding. The borough continues to provide this benefit, not authorized by Act 600, leading to recommendations for compliance upon renegotiating the collective bargaining agreement. Overall, compliance was largely satisfactory. This is an automated summary. Please rely on the contents included in the released audit report.