Aldan Borough Police Pension Plan – Delaware County – Audit Period Ended December 31, 2023

A compliance audit was conducted on the Aldan Borough Police Pension Plan by the Auditor General, as required by the Municipal Pension Plan Funding Standard and Recovery Act. The audit reviewed administration compliance concerning state laws, regulations, and municipal policies for the period January 1, 2023, to December 31, 2023. The scope involved verification of state aid deposits, employer and employee contributions, actuarial reporting, benefit calculations, and compliance with the Deferred Retirement Option Plan (DROP) provisions. The audit concluded that Aldan Borough Police Pension Plan was compliant in all significant respects with the related requirements. The audit did not evaluate the financial statements, as they are audited separately by an independent firm. The historical funding status of the pension plan indicates varying funded ratios over the years, reflecting the plan’s ongoing financial health. The cooperation of Aldan Borough officials was acknowledged in the audit report.