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

The compliance audit of the Punxsutawney Borough Non-Uniformed Pension Plan, conducted under the Municipal Pension Plan Funding Standard and Recovery Act, reviewed the plan’s administration to December 31, 2024, to ensure compliance with state laws, regulations, contracts, and policies. The audit assessed areas such as state aid deposits, employer contributions, and the accurate calculation and disbursement of retirement benefits. It also verified the timely submission of the actuarial valuation report and compliance with Act 205 requirements. Findings revealed that the pension plan was administered in full compliance with all applicable laws and regulations. The report, discussed with Punxsutawney Borough officials, reflects cooperation during the audit process. This is an automated summary. Please rely on the contents included in the released audit report.