Hamilton Township Non-Uniformed Pension Plan – McKean County – Reduced Period Engagement – Period Ended December 31, 2024

The compliance audit of the Hamilton Township Non-Uniformed Pension Plan, conducted by the Pennsylvania Auditor General, aimed to assess whether the plan adhered to applicable state laws, regulations, contracts, administrative procedures, and local ordinances for the period between January 1, 2024, and December 31, 2024. The audit, required under the Municipal Pension Plan Funding Standard and Recovery Act, focused on verifying the proper determination and deposit of state aid and employer contributions, compliance with insurance contract terms, and timely actuarial reporting. Findings showed that the pension plan complied with all applicable requirements, with no significant issues identified. Key procedures included verifying the deposit of state aid within 30 days of receipt, ensuring employer contributions matched financial requirements, and confirming compliance with actuarial reporting deadlines. The plan is a single-employer defined contribution pension plan, with the municipality contributing ten percent of compensation for its two active members. This is an automated summary. Please rely on the contents included in the released audit report.