Finding Text
2023-002 Pension
Criteria:
The Housing Authority should have pension plan documentation available to be reviewed.
Condition:
The Housing Authority could not provide us with the current pension plan so we were unable to determine if the pension was correctly funded.
Question Cost:
Unknown
Effect:
We were unable to determine who was covered by the pension plan, the amount the Authority was funding and the amount that the employees should be contributing.
Cause:
Lack of documentation.
Recommendation:
We recommend the Housing Authority obtain a copy of the current pension plan from their pension provider and review payments made by the authority and it’s employs to determine if the pension has been correctly funded.