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

The compliance audit of the Redstone Township Non-Uniformed Pension Plan was conducted under the authority of the Municipal Pension Plan Funding Standard and Recovery Act. The audit aimed to assess whether corrective actions from a previous report were implemented and if the pension plan complied with state laws and regulations. It reviewed the handling of state aid, employer contributions, and insurance contracts. The audit found compliance with applicable regulations for the periods of January 1, 2023, to December 31, 2024, verifying proper deposition of state aid and employer contributions. The township resolved previous state aid overpayments by reimbursing the Commonwealth for excess amounts received in prior years. Active plan members are not required to contribute, and the municipality contributes 13.295% of each member’s W-2 compensation. The pension plan, established in 1973, supports nine members, including seven active and two terminated members eligible for future benefits. This is an automated summary. Please rely on the contents included in the released audit report.