Kennett Square Borough Police Pension Plan – Chester County – Reduced Period Engagement – Period Ended December 31, 2024

The compliance audit of the Kennett Square Borough Police Pension Plan, conducted under the Municipal Pension Plan Funding Standard and Recovery Act (Act 205), assessed the plan for compliance with state laws and previous audit findings. The audit focused on whether municipal officials took corrective actions for prior findings and if the pension plan adhered to relevant laws and regulations for a period ending December 31, 2024. Evaluations included the allocation and deposit of state aid, calculations of employer and employee contributions, disbursement of retirement benefits, and compliance with the Deferred Retirement Option Plan (DROP). The results showed the plan was mainly managed in compliance with applicable requirements. This is an automated summary. Please rely on the contents included in the released audit report.