b'LOS ANGELES FIRE AND POLICE PENSION SYSTEM STATEMENTS OF CHANGES IN FIDUCIARY NET POSITION FOR THE YEAR ENDEDJUNE 30, 2024 (WITH COMPARATIVE TOTALS FOR THE YEAR ENDEDJUNE 30, 2023) Pension Health Subsidy 2024 2023Total 401(h) 115 Trust Total Combined CombinedADDITIONSContributionsEmployer Contributions $ 480,809,810 $$ 164,560,300 $ 164,560,300 $ 645,370,110 $ 668,242,775-Member Contributions 157,191,117 157,191,117151,934,789-Total Contributions 638,000,927 164,560,300 164,560,300 802,561,227820,177,564-Investment Income (Loss)Net (Depreciation) Appreciation in Fair Value of Investments, Including Gain and Losson Sales2,015,135,534210,891,031 15,249,106 226,140,1372,241,275,671 1,582,891,068Interest287,056,28030,041,451 2,172,237 32,213,688 319,269,968228,908,513Dividends 293,791,25230,746,289 2,223,202 32,969,491 326,760,743367,392,204Net Real Estate Income 38,826,6904,063,350293,813 4,357,163 43,183,85348,905,646Income from Alternative Investments 69,798,5637,304,665528,186 7,832,851 77,631,41434,530,459Securities Lending Income 5,787,922 605,72643,799649,525 6,437,4476,080,080Less: Securities Lending Expense (809,460)(84,713) (6,125) (90,838) (900,298)(850,027)Other Income(8,095,957)(847,270) (61,265) (908,535)(9,004,492) 639,082Subtotal2,701,490,824282,720,529 20,442,953 303,163,4823,004,654,306 2,268,497,025Less: Investment Manager Expense(140,135,455) (14,665,669)(1,060,445)(15,726,114)(155,861,569) (133,731,496)Net Investment Income2,561,355,369268,054,860 19,382,508 287,437,3682,848,792,737 2,134,765,529Other IncomeDonations - - - -Miscellaneous626,979 65,6164,74470,360697,339 459,661Total Other Income626,979 65,6164,74470,360697,339 459,661TOTAL ADDITIONS3,199,983,275268,120,476 183,947,552 452,068,0283,652,051,303 2,955,402,754DEDUCTIONSPension Benefits1,456,408,833 -1,456,408,833 1,342,885,283Payment of Health Subsidy149,084,488 149,084,488 149,084,488138,785,074- -Payment of Medicare Reimbursement 15,256,405 15,256,405 15,256,40515,132,846- Refund of Contributions 8,760,384 8,760,3849,579,884Administrative Expenses 24,067,7362,700,900 2,700,900 26,768,63625,565,613-TOTAL DEDUCTIONS1,489,236,953167,041,793 167,041,7931,656,278,746 1,531,948,700-NET(DECREASE) INCREASE1,710,746,322101,078,683 183,947,552 285,026,2351,995,772,557 1,423,454,054NET POSITION HELD IN TRUST FOR PENSIONAND OTHER POST-EMPLOYMENT BENEFITSBeginning of Year26,437,299,567 2,766,756,510 200,058,5962,966,815,10629,404,114,673 27,980,660,619End of Year $ 28,148,045,889 $2,867,835,193 $ 384,006,148 $ 3,251,841,341 $ 31,399,887,230 $ 29,404,114,673The accompanying notes are an integral part of these financial statements. 15 32 LAFPP ANNUAL REPORT 2024'