Indiana Borough Non-Uniformed Non-Management Pension Plan – Indiana County – Audit Period Ended December 31, 2023

An audit was conducted of the Indiana Borough Non-Uniformed Non-Management Pension Plan to ensure compliance with state laws and policies as per the Municipal Pension Plan Funding Standard and Recovery Act (Act 205). The audit checked for proper calculation and deposit of state aid, employer and employee contributions, retirement benefits, and the timely preparation of the actuarial valuation report. Conducted from January 1, 2023, to December 31, 2023, the audit found the pension plan compliant with relevant regulations, laws, and procedures. Funded and administered locally via Ordinance No. 2015-02 and collective bargaining, the plan has 22 active members, 4 terminated members with vested benefits, and 19 retirees. Historical data reflects a healthy funding status with a steadily improving funded ratio since January 1, 2019. The Auditor General, Timothy L. DeFoor, expressed no opinion on unaudited financial statements. The findings affirmed proper plan administration under applicable ordin