City of Chester Firemen’s Pension Plan – Delaware County – Audit Period January 1, 2023 to December 31, 2024

A compliance audit was conducted for the City of Chester Firemen’s Pension Plan for the period from January 1, 2023, to December 31, 2024, under the Municipal Pension Plan Funding Standard and Recovery Act. The audit examined whether previous audit recommendations were implemented and if the pension plan complied with applicable laws and policies. Despite some compliance, the audit found two main issues: the city failed to fully pay the Minimum Municipal Obligation, and benefits were provided inconsistently with the Third Class City Code. The plan’s funded ratio declined to 55.3% as of January 2023, indicating severe financial distress. This is an automated summary. Please rely on the contents included in the released audit report.