Silver Spring Township Police Pension Plan – Cumberland County – Audit Period Ended December 31, 2023

A compliance audit of the Silver Spring Township Police Pension Plan was conducted under the Municipal Pension Plan Funding Standard and Recovery Act, focusing on its administration in line with state laws, contracts, and local policies. The audit covered the period from January 1 to December 31, 2023, analyzing state aid allocation, employer and employee contributions, and the compliance of actuarial valuations and the Deferred Retirement Option Plan (DROP). It was confirmed that the plan was mostly compliant with regulations, but there was a failure to adopt mandatory Act 44 procedures regarding professional services procurement. Despite previous recommendations, the township didn’t implement necessary procedures for transparency in awarding these contracts, potentially jeopardizing the transparency required by Act 205’s standards. Audit responsibilities lie with township officials to ensure compliance through effective internal controls. Overall, the township cooperated with the audit process, but improvements are needed in the plan’s professional service procurement procedures.