Versailles Borough Non-Uniformed Pension Plan – Allegheny County – Reduced Period Engagement – Period Ended December 31, 2024

A compliance audit was conducted for the Versailles Borough Non-Uniformed Pension Plan regarding its adherence to Pennsylvania’s pension laws and regulations. Governed by the Municipal Pension Plan Funding Standard and Recovery Act, the audit aimed to verify corrective actions taken since a prior report and to ensure administrative compliance with state mandates for pension plans. The audit covered activities for a period ending December 31, 2024, scrutinizing state aid deposits and employer contribution calculations. Officials effectively addressed past findings, maintaining adequate record-keeping, and the pension plan was found compliant with all relevant statutes and policies. The plan, part of the Pennsylvania Municipal Retirement System, demonstrated financial robustness with a funded ratio exceeding 100% in recent years. The audit confirmed that Versailles Borough’s pension plan is financially sound and properly managed. This is an automated summary. Please rely on the contents included in the released audit report.