PENNSYLVANIA ACT 44 PENSION DISCLOSURES
Pennsylvania Act 44 was signed into law in 2009. Chapter 7-A of Act 44 requires the disclosure of certain information about professional advisors receiving compensation for services provided to a municipal pension plan. Independent firms providing actuarial services or investment advisory services are required to respond to the disclosure questionnaire.
Act 44 Investment Advisor Selection Process:
Chapter 7-A of Act 44 requires development of procedures, advertising, and certain disclosures relative to soliciting applications and disclosure forms used to submit proposals for professional services for the Borough’s pension plans. On December 12, 2023, the Borough solicited proposals to provide retirement plan services for Royersford Borough’s Non-Uniformed Pension Plan and Royersford Borough’s Police Pension Plan and, on January 30, 2024, awarded the contract for those services as detailed in the notice and summary below: