Borough manager reports pension audit: unpaid MMO, allocation errors and missing records

Borough Manager Hunter L. Ahrens provided a summary of a recent pension audit at the May 8 meeting. He said Mount Penn maintains two pension plans: a defined benefit plan with "Dave as the only active employee" and a defined contribution plan started in 2018. The audit identified several issues, including that "The 2022 Minimum Municipal Obligation (MMO) was not paid," allocations were incorrect, and eligible employees' pay was underestimated, which will prompt the state to provide approximately $15,000 to help correct the situation.