Quakertown Borough Police Pension Plan – Bucks County – Reduced Period Engagement – Period Ended December 31, 2024

A compliance audit of the Quakertown Borough Police Pension Plan in Bucks County, Pennsylvania, was conducted to ensure adherence to state laws and regulations as per the Municipal Pension Plan Funding Standard and Recovery Act. The audit, focusing on the period from January 1, 2024, to December 31, 2024, assessed various aspects: timely and accurate state aid deposits, employer and employee contribution calculations, retirement benefit disbursements, and compliance with the Deferred Retirement Option Plan (DROP) provisions. The audit found the pension plan’s administration compliant with applicable laws and regulations. Historical funding progress showed improvement, with assets increasingly covering accrued liabilities. Borough officials cooperated during the audit proceedings, contributing detailed data that facilitated the assessment. Although the audit report includes supplementary information, it was not audited. The Audit indicated the Quakertown Police Pension Plan’s strong financial health and adherence to statutory requirements. This is an automated summary. Please rely on the contents included in the released audit report.