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

A compliance audit was conducted on the Souderton Borough Non-Uniformed Pension Plan to assess if it adhered to applicable state laws and regulations. The audit covered the period from January 1, 2024, to December 31, 2024, and evaluated aspects such as state aid distribution, employer and employee contributions, retirement benefit calculations, actuarial reporting, and deferred retirement option provisions. The audit primarily focused on ensuring compliance with the Municipal Pension Plan Funding Standard and Recovery Act (Act 205) and other relevant regulations. The audit found that while the plan met compliance in most areas, there were exceptions. Specifically, incorrect data on Certification Form AG 385 resulted in overpayments of state aid in 2020, 2024, and 2025 due to overstated payroll and ineligibility of a police officer under the Deferred Retirement Option Program. The auditors have discussed their findings with borough officials for resolution. This is an automated summary. Please rely on the contents included in the released audit report.