Downingtown Borough Non-Uniformed Pension Plan – Chester County – Reduced Period Engagement – Period Ended December 31, 2024

A compliance audit of the Downingtown Borough Non-Uniformed Pension Plan was conducted according to the Municipal Pension Plan Funding Standard and Recovery Act. The audit assessed compliance with state laws, regulations, contracts, administrative procedures, and local ordinances. The audit covered state aid and employer contributions from January 1, 2024, to December 31, 2024. The audit verified the timely deposit of state aid, correct calculation, and deposit of employer contributions, and accurate calculation of lump-sum distributions for separated plan members. No employee contributions were required, and retirement benefits were properly disbursed. The audit confirmed compliance with Act 205 requirements, including the preparation and submission of the actuarial report. The audit concluded that the pension plan was administered in compliance with applicable regulations. The Downingtown Borough expressed appreciation for the cooperation received during the audit process. This is an automated summary. Please rely on the contents included in the released audit report.