Published February 3, 2025
About This Audit
A compliance audit was conducted on the Shenango Township Police Pension Plan for 2023, as per the Municipal Pension Plan Funding Standard and Recovery Act. The audit aimed to check the plan’s alignment with state laws, regulations, and local ordinances. The audit verified state aid deposits, employer contributions, benefit calculations, and actuarial valuations, all showing compliance. The plan did not require employee contributions in 2023, and all retirement benefits were appropriately calculated and disbursed. The audit revealed that the pension plan was administered in compliance with applicable laws. The supplementary information, detailing the pension plan’s funding progress, was not audited. The Shenango Township Police Pension Plan, established in 1982, is governed by local ordinances and collective bargaining agreements, with contributions from both the municipality and employees, although employee contributions were waived for the audited year. The audit saw cooperation from township officials.