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State of Delaware Deferred Compensation 457(b) Plan Financial Statement Audit for CYs 2019 and 2020

Report Details

Submitting OIG: 
State of Delaware Auditor of Accounts
Report Description: 
What Was Performed? A financial statement audit of the State of Delaware Deferred Compensation 457(b) Plan for Calendar Years ended December 31, 2019 and 2020. Why This Engagement? This engagement was conducted in accordance with 29 Del. C. §§ 2906, 6058 and 2722. The 457(b) Plan was established in 1971 and is available to most State of Delaware employees. This plan provides supplemental retirement income for state employees in addition to what they may receive through the state’s pension program and through the Social Security Administration. As of December 31, 2020, the Delaware Deferred Compensation 457(b) Plan had approximately 16,600 active participants and a net position of about $841 million. What Was Found? It is my pleasure to report this audit contained an unmodified opinion.1 The 457(b) Plan Financial Statement Audit for Calendar Years ended December 31, 2019 and 2020, can be found here. Please do not reply to this email. For any questions regarding the attached report, please contact State Auditor Kathleen K. McGuiness at Kathleen.Mcguiness@delaware.gov.
Short / Alternative Report Title: 
Delaware Deferred Compensation 457(b) Plan
Date Issued: 
Monday, January 10, 2022
Agency Reviewed / Investigated: 
State of Delaware
Location: 
Dover, DE
United States
Type of Report: 
Audit
Professional Standard: 
GAO's Yellow Book, Generally Accepted Government Auditing Standards (GAGAS)
Report File Link: 
https://auditor.delaware.gov/wp-content/uploads/sites/40/2022/01/State-of-Delawa…

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