Tremont Borough Police Pension Plan – Schuylkill County – Audit Period Ended December 31, 2023

A compliance audit of the Tremont Borough Police Pension Plan, conducted under the Municipal Pension Plan Funding Standard and Recovery Act, revealed the plan’s general adherence to state regulations and laws, but with some exceptions. The audit aimed to assess whether past recommendations were followed and if the plan was compliant with relevant legal standards for the period from January 1, 2022, to December 31, 2023. While state aid and employer contributions were properly managed, the audit found issues with incomplete actuarial valuation report submissions and the maintenance of custodial account records. Specifically, Tremont Borough was late in filing the required January 1, 2023, actuarial valuation report and failed to maintain custodial account records, problems that were noted in previous audits. The borough is encouraged to address these issues promptly to ensure full compliance in the future. In summary, the audit highlighted areas of compliance, as well as areas needing improvement for the Tremont Borough Police Pension Plan.