Franklin Township Non-Uniformed Cash Balance Pension Plan – Susquehanna County – Audit Period January 1, 2021 to December 31, 2023

A compliance audit was conducted on the Franklin Township Non-Uniformed Cash Balance Pension Plan for January 1, 2021, to December 31, 2023, to assess adherence to state laws and regulations. Conducted under the Municipal Pension Plan Funding Standard and Recovery Act, the audit sought to ensure that pension plans receiving state aid comply with relevant laws. Key procedures included verifying state aid deposits, ensuring employer contributions aligned with legal requirements, and confirming actuarial valuations were on schedule. The audit found two issues: incorrect data on Certification Form AG 385 led to state aid underpayment, and awarding professional services contracts conflicted with Act 205 provisions. The report acknowledged Franklin Township officials’ cooperation and suggested compliance improvements. Overall, the plan was mainly in compliance, barring the noted exceptions. The township’s timely correction of the plan’s establishment date is crucial for receiving due state aid allocations in the future.