West Conshohocken Borough Non-Uniformed Pension Plan – Montgomery County – Reduced Period Engagement – Period Ended December 31, 2024

An audit was conducted on the West Conshohocken Borough Non-Uniformed Pension Plan to assess compliance with state laws, regulations, and local ordinances, as required by the Municipal Pension Plan Funding Standard and Recovery Act. The audit covered activities from January 1, 2024, to December 31, 2024, and checked the proper determination and deposition of state aid, employer contributions, retirement benefit calculations, and the accuracy of the actuarial valuation report. The audit concluded that the pension plan was administered in compliance in all significant respects. The actuarial value of assets compared to the accrued liability showed a decline in the funded ratio from 98.9% in 2019 to 86.9% in 2023. This is an automated summary. Please rely on the contents included in the released audit report.