Bangor Borough Non-Uniformed Pension Plan – Northampton County – Audit Period January 1, 2020 to December 31, 2023

The compliance audit of Bangor Borough’s Non-Uniformed Pension Plan for January 1, 2020, to December 31, 2023, was conducted to assess whether corrective actions were taken based on prior findings and if the plan complied with state laws, regulations, and policies. Conducted under the authority of Pennsylvania’s Act 205, which mandates auditing municipal pension plans receiving state aid, the audit confirmed compliance with legal and regulatory requirements. It assessed proper deposition of state aid, employer and employee contributions, and actuarial valuation reports’ accuracy. The audit concluded that Bangor Borough adhered to all significant compliance requirements. Key achievements included addressing prior issues like incorrect data reporting and timely actuarial filings. The plan, a defined benefit pension, had four active members, eight retirees, and adhered to contribution mandates and collective bargaining provisions. The audit, while comprehensive, wasn’t conducted under U.S. Government Auditing Standards, but findings indicate proper plan administration.