City of Pittsburgh Comprehensive Municipal Pension Trust Fund – Allegheny County – Audit Period January 1, 2021 to December 31, 2023

The compliance audit of the City of Pittsburgh Comprehensive Municipal Pension Trust Fund, covering January 1, 2021, to December 31, 2023, aimed to assess adherence to applicable laws and corrective actions recommended in prior audits. Conducted under Act 205, the audit checked if state aid and contributions were managed correctly and if retirement benefits were properly disbursed. No opinion was given on separate financial statements by a contracted firm. Two main issues were found: incorrect data on Form AG 385 led to a state aid underpayment, and Form AG 490 errors resulted in excess reimbursement. The city has yet to rectify the first issue, a repeat from previous findings. This audit reveals the city’s pension trust fund remains not fully funded, holding only 41.5% of the required liability as of December 31, 2022, reflecting ongoing challenges in financial compliance.