Published June 16, 2025
About This Audit
A compliance audit of the Laureldale Borough Police Pension Plan was conducted under the authority of the Municipal Pension Plan Funding Standard and Recovery Act, ensuring accordance with state laws from January 1, 2024, to December 31, 2024. The audit verified correct state aid deposits and employer contributions, finding no required employee contributions or benefit calculations for the period. Reporting was in compliance with Act 205 requirements. The audit concluded that the pension plan was effectively administered, meeting applicable legal and regulatory standards. Supplementary historical information on the pension plan’s funding progress, showing a consistently high funded ratio and full contribution compliance, was provided. The audit report was discussed with town officials, who cooperated fully during the process. The report is publicly available, underscoring a transparent audit process.