Auditor General DePasquale Begins Audit of Wilkes-Barre Municipal Pension Plans
Auditor General DePasquale Begins Audit of Wilkes-Barre Municipal Pension Plans
HARRISBURG (Oct. 31, 2018) – Auditor General Eugene DePasquale today said auditors began work Oct. 18 on a compliance audit of the City of Wilkes-Barre’s pension plans.
“The continuing challenges facing the City of Wilkes-Barre’s municipal pension plans demonstrate the growing need for statewide pension reform,” DePasquale said. “Until such legislation is enacted, it is essential that plans take steps to ensure they have the necessary resources to meet future obligations.”
The City of Wilkes-Barre’s aggregated pension trust fund serves the city’s two police, non-uniformed and two firemen’s pension plans.
The audit will examine whether the pension plans are being operated in accordance with all applicable laws and regulations, and also review if officials took appropriate corrective action to address findings from a prior audit report issued in January 2017. The report recommended that the city eliminate its provision allowing unauthorized service buybacks.
The compliance audit will cover Jan. 1, 2016 through Dec. 31, 2017 and is expected to be completed in early 2019.
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