Beaver Township Non-Uniformed Pension Plan – Clarion County – Audit Period Ended December 31, 2024

The compliance audit of the Beaver Township Non-Uniformed Pension Plan was conducted for the period from January 1, 2024, to December 31, 2024, to ensure compliance with state laws, regulations, and local policies. The audit, based on Act 205 of 1984, verified proper state aid deposits and employer contributions, assessed compliance with retirement benefits calculations, and ensured the actuarial report’s timely submission. No employee contributions were required, and unallocated insurance contracts were reviewed for compliance. The results indicated the plan was administered in accordance with applicable laws and regulations. Historical funding progress was also reviewed, indicating a funded ratio decrease from 95.8% in 2019 to 80.9% in 2023. Supplementary information for this audit was unaudited and does not include assurance. The audit findings were communicated with township officials, who were thanked for their cooperation. The audit confirms Beaver Township’s pension plan compliance with significant respect.