Pennsbury Township Non-Uniformed Pension Plan – Chester County – Reduced Period Engagement – Period Ended December 31, 2024

The compliance audit of the Pennsbury Township Non-Uniformed Pension Plan, conducted under the Municipal Pension Plan Funding Standard and Recovery Act, aimed to assess whether township officials implemented corrective actions from previous findings and ensured the pension plan’s compliance with state laws, regulations, contracts, and policies from January 1, 2022, to December 31, 2024. Although the audit confirmed compliance in most areas, four significant issues were identified: incomplete state aid deposits, incorrect certification data leading to underpayment of state aid, failure to fully meet the minimum municipal obligation, and inadequate record-keeping. This last issue was noted in prior audits and remains unresolved, prompting the auditor’s recommendation for prompt corrective actions. The Pennsylvania Municipal Retirement System handles investment and administration for the plan. The audit’s results, including these findings and recommendations, were discussed with Pennsbury Township officials, highlighting a need for improved compliance and administration of the pension plan. This is an automated summary. Please rely on the contents included in the released audit report.