Lower Providence Township Non-Uniformed Pension Plan – Montgomery County – Reduced Period Engagement – Period Ended December 31, 2024

The compliance audit of the Lower Providence Township Non-Uniformed Pension Plan, conducted per the Municipal Pension Plan Funding Standard and Recovery Act (Act 205), aimed to assess whether the plan adhered to state laws, regulations, contracts, procedures, and local policies. The audit covered January 1 to December 31, 2024, focusing on state aid, employer and employee contributions, and the preparation of the actuarial valuation report. The results showed compliance with relevant requirements during the audit period. The plan, established in 1973, is governed by Ordinance No. 496 and relevant collective bargaining agreements. Audited actuarial data from 2019 to 2023 showed a funded status consistently over 100%, indicating financial strength. Officials must maintain effective controls to ensure compliance, and the audit results were discussed with the township’s officials, who cooperated throughout the process. Overall, the pension plan met its legal and regulatory obligations efficiently. This is an automated summary. Please rely on the contents included in the released audit report.