City of Hermitage Non-Uniformed Pension Plan – Mercer County – Audit Period January 1, 2021 to December 31, 2023

The compliance audit for the City of Hermitage Non-Uniformed Pension Plan covered January 1, 2021, to December 31, 2023. It evaluated municipal compliance with the Act 205 of 1984, which mandates audits for municipalities receiving state aid for pension systems. The audit focused on ensuring corrective actions from prior findings were implemented and verifying compliance with laws and policies governing pensions. Key audit procedures included assessing whether state aid was timely deposited, reviewing employer and employee contribution calculations, verifying retirement benefit calculations, and ensuring actuarial valuation reports were submitted on time. The report concluded that the pension plan was administered in compliance with applicable regulations and included unaudited supplementary information for further analysis. Overall, the City of Hermitage effectively managed its Non-Uniformed Pension Plan in accordance with state requirements.