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

The compliance audit of the Shippingport Borough Non-Uniformed Pension Plan, conducted under the Municipal Pension Plan Funding Standard and Recovery Act (Act 205), assessed the plan’s adherence to state laws, regulations, and policies during January 1, 2023, to December 31, 2024. The audit aimed to verify proper corrective actions on previous findings and confirm that the pension plan complied with relevant regulations. The audit procedures included verifying the accuracy of state aid deposits and employer contributions, checking the correctness of retirement benefits calculations, and ensuring accurate submissions of actuarial valuation reports. It was found that the Shippingport Borough Pension Plan met compliance requirements in all significant respects. This ensures continued eligibility for state aid, contributing to the effective management of the pension plan. Discussions with borough officials, as well as gratitude for their cooperation, were also noted in the report by Auditor General Timothy L. DeFoor. This is an automated summary. Please rely on the contents included in the released audit report.