THORNBURY TWP, PA — A new state audit has found that Thornbury Township’s Non-Uniformed Pension Plan is in full compliance with Pennsylvania’s municipal pension laws and continues to maintain strong funding levels, reflecting steady financial management and sound oversight by township officials.
The report, released by Pennsylvania Auditor General Timothy L. DeFoor, examined the township’s pension operations for the period ending December 31, 2024. The audit, conducted under the state’s Municipal Pension Plan Funding Standard and Recovery Act, known as Act 205, reviewed compliance with laws governing state aid, employer and employee contributions, retirement benefit calculations, and actuarial reporting.
According to the findings, “in all significant respects, the Thornbury Township Non-Uniformed Pension Plan was administered in compliance with applicable state laws, regulations, contracts, administrative procedures, and local ordinances.” The report included no findings, deficiencies, or recommendations for corrective action — a distinction DeFoor’s office notes is achieved by only a small fraction of Pennsylvania municipalities.
The plan, established in 2008, is a single-employer defined benefit plan managed under township resolution and administered through a custodian agreement. Employees contribute 0.25 percent of their compensation, while the township provides the bulk of the funding. As of the end of 2024, the plan had no active members and two retirees receiving benefits.
Actuarial data show that the plan’s financial health has steadily improved in recent years. Its funded ratio — a measure of assets compared to long-term obligations — rose from 36.6 percent in 2019 to 88.2 percent as of January 1, 2023, signaling a robust recovery and responsible funding practices. Township records also show that the municipality has met or exceeded its required contributions for the past several years, including contributing 125.7 percent of its required amount in 2023.
Officials credited the township’s disciplined budgeting and adherence to state funding guidelines for the plan’s stable performance. The audit further confirmed that state aid was properly deposited, contributions were calculated accurately, and pension benefits were paid to eligible retirees in accordance with plan provisions.
Auditor General DeFoor praised the township’s commitment to transparency and compliance, noting that Thornbury’s adherence to best practices “reflects strong fiscal governance and accountability to taxpayers.”
The full audit report for the Thornbury Township Non-Uniformed Pension Plan is publicly available through the Pennsylvania Department of the Auditor General at PaAuditor.gov .
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.