Shippensburg Borough Police Pension Plan – Cumberland County – Reduced Period Engagement – Period Ended December 31, 2024

The compliance audit of Shippensburg Borough Police Pension Plan, conducted under the Municipal Pension Plan Funding Standard and Recovery Act, reviewed the plan’s adherence to state laws and local policies. The audit, spanning January 1 to December 31, 2024, assessed the proper determination and deposit of state aid, employer and employee contributions, and the calculation and disbursement of retirement benefits. The audit also checked the timely preparation and submission of the 2023 actuarial valuation report, all in line with Act 205. The results confirmed that the pension plan was compliant in all significant respects. The report, discussed with Shippensburg Borough officials, requires municipal internal controls to assure ongoing compliance. Historical funding status data indicates fluctuating funded ratios, impacting the plan’s financial strength. This is an automated summary. Please rely on the contents included in the released audit report.