City of Sharon Firemen’s Pension Plan – Mercer County – Audit Period January 1, 2021 to December 31, 2023

The compliance audit of the City of Sharon Firemen’s Pension Plan, covering January 1, 2021 to December 31, 2023, was conducted under Act 205 authority to evaluate compliance with state laws and regulations. The audit checked various aspects, such as the correct calculation and deposit of state aid, employer and employee contributions, calculation of retirement benefits, and timely submission of actuarial reports. The audit found that the pension plan complied with relevant laws and procedures except for one issue regarding incorrect data on a certification form that led to a state aid overpayment. A previous issue of excess contributions due to additional roles of a firefighter was addressed by ensuring no state aid was improperly received. The audit results, discussed with city officials, showed overall compliance, with a recommendation for rectifying the overpayment issue.