West Goshen Township Sewer Employees’ Pension Plan – Chester County – Audit Period Ended December 31, 2023

An audit of the West Goshen Township Sewer Employees’ Pension Plan was conducted to ensure compliance with state laws, regulations, and local ordinances, as per the authority of the Municipal Pension Plan Funding Standard and Recovery Act. The audit covered activities from January 1, 2023, to December 31, 2023, focusing on the proper determination and deposition of state aid, employer and employee contributions, retirement benefit calculations, and the submission of an actuarial report. It was found that the pension plan complied with applicable laws and regulations, with necessary documentation and calculations verified for accuracy. The report underscored the importance of establishing effective internal controls to ensure compliance. Township officials were cooperative throughout the audit process. The plan is funded by a mixture of asset smoothing and foreign insurance premiums, and its actuarial status was reviewed for progress in funding relative to its liabilities. The findings assure compliance with all significant pension plan provisions.