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

The compliance audit of the Indiana Borough Police Pension Plan, conducted under the Municipal Pension Plan Funding Standard and Recovery Act, ensured compliance with state laws, regulations, and local policies. The audit focused on verifying appropriate administration during the period from January 1, 2023, to December 31, 2023, including proper state aid and contribution deposits. The audit methodology involved checking calculation accuracy and validating deposits against supporting documentation. No benefit calculations were needed for the period, and actuarial valuations were submitted timely. Overall, the audit concluded that the pension plan was administered in compliance with applicable laws and regulations. Results were discussed with Indiana Borough officials, who cooperated fully. The compliance assurance was further supported by supplementary information, which although not audited, aims to provide an additional analysis of the plan’s funding status. This indicates a well-managed pension plan with active participation in the state aid program.