New Holland Borough Police Pension Plan – Lancaster County – Audit Period Ended December 31, 2023

A compliance audit was conducted on the New Holland Borough Police Pension Plan for 2023, under the Municipal Pension Plan Funding Standard and Recovery Act. The audit aimed to ensure the pension plan adhered to state laws, regulations, and internal policies. Key activities included: verifying timely deposits of state aid, checking employer and employee contribution calculations and deposits, ensuring compliance with pension plan documents, and examining the actuarial valuation report. The audit concluded that the plan was compliant in all significant respects. The pension plan, affected by regulations such as Act 600, is a single-employer defined benefit plan with historical contributions data showing a strong funding status over recent years. The audit report, available to borough officials, confirms the plan’s adherence to state aid requirements and pension regulations.