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

A compliance audit was conducted on the Myerstown Borough Non-Uniformed Pension Plan in Lebanon County, Pennsylvania, covering a period ending December 31, 2024. The audit aimed to assess compliance with state laws, regulations, and local ordinances relating to pension management, particularly under Act 205. Key findings included proper determination and timely deposit of state aid and employer contributions as per requirements, while no employee contributions were mandated. However, a significant finding was noted concerning the borough’s failure to allocate forfeitures from terminated employees to the remaining members’ accounts as stipulated in the plan’s documents. Recommendations included rectifying this allocation issue, and borough officials agreed with the finding. Overall, except for the noted issue, the pension plan was administered in compliance with relevant laws and standards. This is an automated summary. Please rely on the contents included in the released audit report.