Capitol Report

Municipal Pension Plans Face Dire Underfunding

The Legal Intelligencer

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Pennsylvania Auditor General Eugene DePasquale released the findings of an audit of the pension plans of several municipalities. Susan Woods, a spokeswoman for the Auditor General's Office, said that the objectives of pension plan audits are to determine whether the municipality complied with any prior audit recommendations and whether the municipal pension plan is in compliance with laws, regulations, contracts, administrative procedures and local ordinances and policies.

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