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

The compliance audit of the Knox Borough Non-Uniformed Pension Plan, conducted under the authority of Act 205, assessed whether municipal officials addressed prior recommendations and ensured the plan’s administration aligned with state laws and policies. The audit evaluated if state aid and employer contributions were correctly determined and deposited for 2023-2024, confirmed no employee contributions were needed, and verified the correct calculation and disbursement of retirement benefits. Moreover, it checked if the January 2023 actuarial valuation report met Act 205 requirements. The audit concluded that Knox Borough’s pension plan was administered compliantly in significant respects. This is an automated summary. Please rely on the contents included in the released audit report.