b'LOS ANGELES FIRE AND POLICE PENSION SYSTEM MANAGEMENTS DISCUSSION AND ANALYSIS (Unaudited)Pension Plan (Continued)Changes in Fiduciary Net Position (Continued)the actuarially required contribution. The increase in members contribution was due to an overall increase in active member salaries.Net investment income amounted to $1.92 billion, an increase in net investment income of $3.94 billion, or 195.0%, when compared with $(2.02) billion from fiscal year 2022. Investment income increased in fiscal year 2023 due to the net appreciation in the fair value of investments in fiscal year 2023 relative to fiscal year 2022.Deductions from Fiduciary Net PositionCosts associated with the Pension Plan include benefit payments to members, refunds of contributions due to termination and member death, and administrative expenses.Deductions for the fiscal year ended June 30, 2023, totaled $1.38 billion, an increase of $108.58 million, or 8.6%, over fiscal year 2022. The increase was due primarily to the up to 7.4% cost of living adjustments made to eligible pensions and an increase in the number of service retirements and Deferred Retirement Option Plan (DROP) exits, compared to fiscal year 2022. Health Subsidy PlanA summary of the Health Subsidy Plans net position and changes in net position is presented below:Fiduciary Net PositionCondensed Statement of Fiduciary Net Position($ in Thousands)2024 2023 Change % ChangeCash $715 $800 $ (85) -10.6%Receivables/Prepayments 98,85285,11113,741 16.1%Investments3,382,0723,103,806 278,266 9.0%Capital Assets2,1182,203(85) -3.9%Total Assets3,483,7573,191,920 291,837 9.1%Liabilities 231,890 225,0536,837 3.0%Deferred Inflows of Resources26 52(26) -50.0%Net Position $ 3,251,841 $ 2,966,815 $285,026 9.6% Net position increased by $285.03 million, or 9.6%, to $ 3.25 billion from fiscal year 2023.Total assets increased in value by $ 291.84 million, or 9.1%, when compared with the prior fiscal year 2023, primarily attributable to appreciation of investments due to favorable market conditions. 9 26 LAFPP ANNUAL REPORT 2024'