West Vincent Township Police Pension Plan – Chester County – Reduced Period Engagement – Period Ended December 31, 2024

The compliance audit of the West Vincent Township Police Pension Plan was conducted to ensure adherence to the Municipal Pension Plan Funding Standard and Recovery Act. The audit focused on whether corrective actions were taken from prior reports and if the plan was managed in compliance with state laws, contracts, and policies. The audit identified several significant issues, including failure to pay the minimum municipal obligation, improper determination and payment of obligations, failure to deposit state aid into the pension plan, and incorrect data on certification forms. These findings indicate non-compliance with the legal standards required, which may result in withholding state aid for West Vincent Township. The township is responsible for maintaining compliance, and the audit findings were discussed with officials to address these issues. The audit emphasizes the critical importance of compliance in pension administration to avoid potential financial penalties. This is an automated summary. Please rely on the contents included in the released audit report.