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

The compliance audit of the Narberth Borough Police Pension Plan, conducted under the Municipal Pension Plan Funding Standard and Recovery Act (Act 205), assessed the pension plan’s adherence to state laws, regulations, and local policies. The audit focused on whether appropriate corrective actions were taken on prior findings and the plan’s administration compliance. Key areas inspected included state aid deposits, employer and employee contributions, and the Deferred Retirement Option Plan’s adherence to provisions of Act 205. Findings included repeated noncompliance issues—such as inconsistencies in pension benefits and the non-adoption of the Deferred Retirement Option Plan by ordinance—alongside incorrect data submissions leading to excess reimbursements. Despite these issues, the Narberth Borough Police Pension Plan generally complied with legal and regulatory requirements, emphasizing the need for improved compliance and plan monitoring to ensure long-term financial stability. This is an automated summary. Please rely on the contents included in the released audit report.