Published November 7, 2023
About This Audit
A compliance audit of the New Eagle Borough Police Pension Plan was conducted by the Auditor General, as mandated by Act 205, to ensure adherence to state laws and regulations. The audit covered a period ending December 31, 2022, focused on the proper determination and timely deposit of state aid, verification of employer contributions, and compliance with actuarial reporting standards. The audit determined that the pension plan was administered in line with applicable laws, contracts, and policies. Notably, there were no active plan members, and therefore, no employee contributions or benefit calculations were required for the period. Additionally, historical actuarial data showed a consistent surplus in assets over liabilities, indicating strong financial health. This is an automated summary. Please rely on the contents included in the released audit report.