b'LOS ANGELES FIRE AND POLICE PENSION SYSTEM REQUIRED SUPPLEMENTARY INFORMATION PENSION PLAN SCHEDULE OF CHANGES IN NET PENSION LIABILITY AND RELATED RATIO ($ in Thousands)(Unaudited)06/30/24 06/30/23 06/30/22 06/30/21 06/30/20Total Pension Liability: Service Cost $442,649 $ 452,190 $ 4 56,446 $455,362 $ 4 10,559Interest1,855,769 1,797,8281,749,6401,668,2121,654,964Benefit Payments (1,465,169)(1,352,465)( 1,244,736) (1,186,963) (1,121,252)Experience Losses (Gains)258,521 2 58,373 (214,833)2 54,452 (23,348)Assumption Changes-(262,300)- -48,286Other 1- - - Net Change1,091,770 8 93,626746,5171,191,063969,209Total Pension Liability at Beginning of Year3,800,415 2,906,7892,160,2729 69,209-Total Pension Liability atEnd of Year (a) $ 4,892,185 $3,800,415 $ 2,906,789 $ 2,160,272 $969,209Fiduciary Net Position: Employer Contributions $480,810 $ 481,824 $535,450 $543,819 $ 5 16,638Member Contributions157,191151,935149,2431 57,786153,787Net Investment Income 32,561,982 1,920,464 (2,021,582)6,972,104606,244Benefit Payments (1,465,169)(1,352,465)( 1,244,736) (1,186,963) (1,121,252)Administrative Expenses (24,068)(22,994) (22,146) (21,372) (20,685)Other 1- Net Change (Gain)1,710,746 1,178,764( 2,603,771)6,465,374134,732Fiduciary Net Position atBeginning of Year5,175,099 3,996,3356,600,106 134,732-Fiduciary Net Position atEnd of Year (b) 2 $ 6,885,845 $5,175,099 $ 3,996,335 $ 6,600,106 $ 1 34,732Net Pension Liability/(Asset) (a)-(b) $(1,993,660) $ (1,374,684) $(1,089,546) $(4,439,834) $834,477Plan fiduciary net position as a percentage of100.92% 98.64% 97.50% 110.74% 89.27%the total pension liability Covered employee payroll $ 1,600,181 $1,608,133 $ 1,598,685 $ 1,603,349 $ 1,509,613Plan net position liability as a percentage of-15.96% 22.61% 40.58% -168.49% 170.43%covered employee payrollNotes to Schedule:GASB Statement No.67 requires this information to be reported for 10 years.Fiduciary Net PositionThe fiduciary net position is calculated based on financial information available to the actuary for the presentation of the actuarial valuation and does not include subsequent adjustments.(1)Includes employer and employee contributions transferred from the Los Angeles City Employees Retirement System (LACERS) for the Airport Police Officers who elected to join the System in Tier 6. (2) Excludes the transfer of employer and employee contributions referenced in footnote.(1)(3)Includes a prior year adjustment resulting from recognizing lease revenue according to GASB Statement No. 87, Leases. See accompanying notes to required schedule and accompanying independent auditors report. 57 74 LAFPP ANNUAL REPORT 2024'