Malvern Borough Non-Uniformed Pension Plan – Chester County – Reduced Period Engagement – Period Ended December 31, 2025

A compliance audit of the Malvern Borough Non-Uniformed Pension Plan was conducted under the authority of the Municipal Pension Plan Funding Standard and Recovery Act (Act 205 of 1984). The audit’s objectives were to assess if previous audit recommendations were implemented and if the pension plan complied with applicable laws, regulations, and policies between January 1, 2024, and December 31, 2025. The audit verified the proper use of state aid, accurate calculation of employer and employee contributions, correct administration of retirement benefits, and timely submission of actuarial reports. The results showed that, in all significant respects, the pension plan was administered in compliance with required standards. Additionally, the plan demonstrated a strong funding status, with its assets’ value continuously exceeding the actuarial accrued liability. The audit concluded with acknowledgment of cooperation from borough officials, noting compliance improvements since the last review. This is an automated summary. Please rely on the contents included in the released audit report.