City of Reading Officers and Employees Pension Plan – Berks County – Audit Period January 1, 2022 to December 31, 2023

The compliance audit of the City of Reading Officers and Employees Pension Plan for the period January 1, 2022, to December 31, 2023, evaluated compliance with state laws and regulations. The audit objectives were to assess whether corrective actions from previous reports were implemented and if the pension plan adhered to applicable regulations and procedures. The audit involved verifying the proper deposit of state aid and contributions, ensuring retirement benefits were appropriately disbursed, and confirming compliance with actuarial reporting requirements. The audit concluded that the pension plan was compliant in all significant respects. Additionally, prior issues, such as overpayment and procedural lapses, were addressed satisfactorily, with corrective measures taken. The City of Reading showed improvement in ensuring the pension plan’s administration aligned with state mandates, demonstrating effective compliance with the relevant standards and recovery act provisions.