Sharon Hill Borough Non-Uniformed Union Pension Plan – Delaware County – Reduced Period Engagement – Period Ended December 31, 2024

The compliance audit of the Sharon Hill Borough Police Pension Plan confirms compliance with state laws and procedures, although recurring issues from previous audits remain unresolved. Conducted under the Municipal Pension Plan Funding Standard and Recovery Act, the audit assessed compliance from January 2020 to December 2024. It examined state aid deposits, employer and employee contributions, retirement benefits, and internal controls. Key findings include partial compliance with service increment provisions, unauthorized killed-in-service benefits, and inconsistent pension benefits, reflecting unresolved concerns from a prior report. Despite new corrective actions, unresolved issues affect the borough’s moderate distress status under Act 205, with a funded ratio of 62.6% indicating Level II distress. Sharon Hill Borough officials are urged to address these longstanding issues to secure the plan’s financial future. This is an automated summary. Please rely on the contents included in the released audit report.