New Wilmington Borough Police Pension Plan – Lawrence County – Reduced Period Engagement – Period Ended December 31, 2024

The audit of the New Wilmington Borough Police Pension Plan, conducted under the Municipal Pension Plan Funding Standard and Recovery Act, aimed to assess compliance with state laws and regulations governing the plan. The audit objectives included verifying corrective actions from prior audits and ensuring the plan adhered to applicable guidelines. The assessment covered aspects like state aid deposits, employer contributions, retirement benefit calculations, and actuarial valuations. The audit found the plan generally compliant except for a noted issue: an ordinance improperly amended by resolution, which requires rectification. The audit also involved discussions with borough officials, who agreed with the findings. The results suggest that, overall, the police pension plan complies with relevant requirements, with minor exceptions that are set to be evaluated in the next audit. This is an automated summary. Please rely on the contents included in the released audit report.