New Garden Township Police Pension Plan - Chester County - Compliance Audit Report - 12 31 08

NEW GARDEN TOWNSHIP POLICE PENSION PLAN CHESTER COUNTY COMPLIANCE AUDIT REPORT FOR THE PERIOD JANUARY 1, 2006, TO DECEMBER 31, 2007 NEW GARDEN TOWNSHIP POLICE PENSION PLAN CHESTER COUNTY COMPLIANCE AUDIT REPORT FOR THE PERIOD JANUARY 1, 2006, TO DECEMBER 31, 2007 CONTENTS Page Background......................................................................................................................................1 Letter from the Auditor General ......................................................................................................3 Status of Prior Finding.....................................................................................................................5 Supplementary Information .............................................................................................................6 Report Distribution List.................................................................................................................11 ABBREVIATION PMRS - Pennsylvania Municipal Retirement System BACKGROUND On December 18, 1984, the Pennsylvania Legislature adopted the Municipal Pension Plan Funding Standard and Recovery Act (P.L. 1005, No. 205, as amended, 53 P.S. § 895.101 et seq.). The act established mandatory actuarial reporting and funding requirements and a uniform basis for the distribution of state ...