b'There are various measures that can be reviewed to determine the overall health of a retirement plan. One such measure is the plans funded status, which is the ratio of a retirement plans assets to its liabil-ities (i.e., the pension or retiree health benefits we expect to provide to members). For the fiscal year ending June 30, 2024, the combined funded ratio for pension and retiree health benefits increased from 96.8% to 97.0%, while the unfunded liability decreased from $975 million to $955 million. Separately, the funded ratio for pension benefits increased from 99.5% to 99.8% and the health benefits funded ratio increased from 77.7% to 78.2%.This increase in the Plans funded ratio is excellent news and is indicative of the continued strength and stability of the Plan.ACCOMPLISHMENTS Each year staff develops and submits a Business Plan to the Board for approval.The Business Plan is designed to further the goals stipulated in the Three-Year (2022-2024) Strategic Plan and keep the Departments resources focused on the most crucial areas.2022-2024 STRATEGIC PLAN GOALS1.Ensure a Financially Sound Retirement System 2.Manage Risk Throughout the Organization 3.Enhance Customer Care & Stakeholder Relations 4.Pursue Operational Efficiencies 5.Build and Support a Talented Workforce 6.PromoteDiversity,Equity,andInclusion(DEI) ThroughouttheOrganizationIncludingOur Investment Portfolio and Business Partners6 LAFPP ANNUAL REPORT 2024'