b'Expenditures BudgetedActual 2023-24 2023-24Service Pensions 966,000,000 966,588,857Service PensionsDROP Distributions 273,033,000 211,546,327Disability Pensions 113,000,000 112,885,695Surviving Spouse/Domestic Partner Pensions 165,000,000 161,732,846Minor/Dependent Child Pensions 4,100,000 3,655,109Refund of Member Contributions 9,800,000 8,760,384Health Insurance Premium Subsidy 145,000,000 142,496,557Dental Insurance Premium Subsidy 5,300,000 4,874,022Medicare Reimbursement 17,000,000 15,256,405Health Insurance Premium Reimbursement 1,900,000 1,713,908Investment Management Expense 163,294,890 155,861,569Administrative Expense 27,936,900 26,768,636Total Expenditures 1,891,364,790 1,812,140,315Increase (Decrease) in Fund Balance (573,465,882) 913,676,433SUMMARY OF RECEIPTS The Department receives revenue primarily from three sources: Employer Contributions (City, Harbor, and Airports), Member Contributions, and Investment Earnings. In 2023-24, the Department received total revenue of $2.73 billion 1, an increase of $1.11 billion, or +68.41%, from 2022-23. The change was primar-ily due to an increase in Investment Earnings, as well as a moderate increase in member contributions. EMPLOYER CONTRIBUTIONS Employer Contributions are based on the application of the actuarys computed rates for each tier to the budgeted sworn payroll. It is comprised of the Citys General Fund contribution and Special Fund (Harbor and Airports Departments) contributions. In 2023-24, Employer Contributions, excluding funds for the Excess Benefit Plan, totaled $645.37 million, a decrease of $22.87 million, or -3.42%, from 2022-23.MEMBER CONTRIBUTIONS Member Contributions are calculated based on the contribution rate for a members tier. These rates range from 8% to 9% of salaries for members in Tiers 3 through 5, while members in Tier 6 contribute 11% of salary. All remaining active Tier 2 members have completed at least 30 years of service and therefore no longer make pension contributions. In 2023-24, revenue received from Member Contributions was $157.19 million, an increase of $5.26 million, or +3.46%, from 2022-23.1 This does not include Excess Benefit Plan funds.SECTION 3 Department Budget 91'