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

A compliance audit was conducted on the Bangor Borough Police Pension Plan in Northampton County, Pennsylvania, for the period from January 1, 2020, to December 31, 2023, with some evaluations of compliance extending beyond this timeframe. The audit, mandated by Pennsylvania’s Act 205, assessed whether the pension plan adhered to state laws and regulations, local ordinances, and relevant contractual and administrative procedures. The audit verified the proper determination and timely deposit of state aid and checked that both employer and employee contributions complied with legal requirements. It was found that, overall, the plan was managed in compliance with the relevant laws and regulations. The audit also revealed no benefit calculations were prepared during the audit period, and actuarial reports were submitted as required. The audit confirmed that the plan’s funding status showed improvement over time, increasing in funded ratio from 78.3% in 2019 to 91.8% in 2023.