b'LOS ANGELES FIRE AND POLICE PENSION SYSTEM NOTES TO FINANCIAL STATEMENTS JUNE 30, 2024 AND 2023NOTE 6NET OTHER POSTEMPLOYMENT BENEFITS LIABILITY (Continued)Actuarial assumptions for Other Post-employment Benefits (Continued)The following assumptions were adopted by the Board based on the actuarial experience study from July 1, 2019 through June 30, 2022 for the June 30, 2024 and June 30, 2023 actuarial valuations:Actuarial Cost Method Entry age normal, level percent of pay.Adminstrative Expenses Out of the total 1.45% of payroll in administrative expense, 0.13% of payroll payablebiweekly is allocated to the Retiree Health Plan. This is equal to 0.13% of payrollpayable at beginning of the year. Spouse Age Difference Males are assumed to be 3 years older than a female spouse.Participation ServiceParticipation forParticipation forParticipation for RangeFuture RetireesFuture RetireesCurrent Retiree Age(Years) Under 65Over 6555-64 Without Subsidy(Percentage) (Percentage) Upon Attaining Age 65 (Percentage)10-14 35% 55% 30.77%15-19 60% 80% 50.00%20-24 80% 85% 25.00%25 and over 95% 97% 40.00%Medicare Coverage 100% of future retirees are assumed to elect Medicare Parts A and B.Dental Coverage 90% of future retirees are assumed to elect dental coverage.Spousal Coverage Of future retirees receiving a medical subsidy, 80% are assumed to elect coverage formarried and surviving spouse or domestic partners. For those retired on valuation datewith a subsidy, spousal/domestic partner coverage is based on census dataImplicit Subsidy Based on information provided by the health consultant retained by Los AngelesFiremens Relief Association (LAFRA), we understand that retirees under age 65enrolled in the Fire Kaiser Medical Plan are presently underwritten with the activesenrolled in that plan. LAFPP has made a decision to include the implicit subsidy in theemployers contribution rate starting with the June 30, 2019 funding valuation. Noimplicit subsidy needs to be valued for the other medical plans. Other actuarial assumptions on mortality rates, termination rates, retirement rates, net investment return, and future benefit accruals are the same as for Pension Plan benefits. 34 SECTION 2 Financials 51'