City of Chester Officers and Employees Pension Plan – Delaware County – Audit Period January 1, 2023 to December 31, 2024

A compliance audit of the City of Chester Officers and Employees Pension Plan, covering January 1, 2023, to December 31, 2024, was conducted by the Auditor General. The audit aimed to assess if prior recommendations were implemented and if the pension plan adhered to state laws and regulations. Key findings included a failure to meet the minimum municipal obligation, noncompliance with the Third Class City Code, and incorrect data submissions affecting state aid. Despite some corrective actions, the plan remains underfunded, with a distress status of Level III Severe Distress. Additionally, the City of Chester’s collective pension plans are seriously underfunded, and the city is currently in ongoing bankruptcy proceedings. This is an automated summary. Please rely on the contents included in the released audit report.