Collingdale Borough Police Pension Plan – Delaware County – Audit Period January 1, 2021 to December 31, 2024

The audit of the Collingdale Borough Police Pension Plan, covering January 1, 2021, to December 31, 2024, aimed to evaluate compliance with applicable state laws and regulations. The audit was conducted under the Municipal Pension Plan Funding Standard and Recovery Act but did not adhere to Government Auditing Standards. The audit assessed state aid deposits, employer and employee contributions, retirement benefits, actuarial valuation reports, ad hoc postretirement reimbursements, and compliance with the Deferred Retirement Option Plan provisions. The audit revealed that, generally, the plan complied with the rules, although two findings were highlighted: inconsistent pension benefits and unauthorized benefits under Act 600. Due to high turnover in management, discrepancies were found between the governing document and the collective bargaining agreement. These findings are discussed in detail within the report, which concludes that aside from these issues, the pension plan was administered in compliance with the relevant legal and regulatory frameworks. This is an automated summary. Please rely on the contents included in the released audit report.