PHOENIXVILLE, PA — Pennsylvania Auditor General Timothy L. DeFoor has released compliance audits of Phoenixville Borough’s Non-Uniformed Pension Plan and Firefighters Pension Plan, with both reviews concluding the plans were administered in compliance with applicable state laws, regulations, and local policies.
The audits examined whether state aid, employer and employee contributions, and other pension administration requirements complied with Pennsylvania’s Municipal Pension Plan Funding Standard and Recovery Act (Act 205).
The Non-Uniformed Pension Plan audit covered Jan. 1, 2024, through Dec. 31, 2025. Auditors also reviewed whether borough officials had corrected a finding identified in a prior audit. The report concluded that officials resolved the earlier issue involving inaccurate pension data reported on Certification Form AG 385, resulting in compliance with the previous recommendation.
Auditors determined the non-uniformed plan complied with applicable legal and administrative requirements, including the proper determination and deposit of state aid, employer and employee contributions, retirement benefit calculations, and actuarial reporting requirements.
The report noted the plan covered 72 active employees, 13 vested former employees and 50 retirees as of Dec. 31, 2025. Its most recent actuarial valuation, dated Jan. 1, 2025, showed a funded ratio of 99.9%, with actuarial assets of approximately $16.65 million against liabilities of approximately $16.67 million.
The Firefighters Pension Plan audit covered Jan. 1 through Dec. 31, 2025, the plan’s first year of operation following its establishment on Jan. 1, 2025. Auditors concluded the plan was administered in compliance with applicable laws and policies.
The firefighters plan had six active members and no vested former members or retirees as of Dec. 31, 2025. Auditors reported the borough contributed 100% of the plan’s required employer contribution for 2025, while the Jan. 1, 2025 actuarial valuation showed the plan was fully funded with a 100% funded ratio.
The Department of the Auditor General conducts municipal pension audits under Act 205 to evaluate compliance with funding, reporting and administrative requirements for local government pension plans receiving state aid.
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