b'Five-Year Expenditures HistoryExpendituresIn Millions$2,000 Service Pensions$1,800 Service Pensions-DROP DistributionsDisability Pensions$1,600Surviving Spouse/Domestic Partner$1,400 & Minor/Dependent Child Pensions$1,200 Refund of Member ContributionsHealth Insurance Premium Subsidy, Dental $1,000 Insurance Premium Subsidy, Medicare & Health Insurance Premium Reimbursement$800Investment Management Expense$600 Administrative Expense$400$200$02019-20 2020-21 2021-22 2022-23 2023-24DETAIL OFADMINISTRATIVEFive-Year Administrative Expense HistoryEXPENSEAdministrative ExpenseIn MillionsAdministrative Expense includes staff salaries and benefits,andoperatingcosts(includingoffice$30and technical equipment).SALARIES AND RELATED COSTS $25Salariesandrelatedcostscomprised75.69%of the total Administrative Expense in 2023-24, with$20atotalof$20.26millionexpended(anincrease of$0.76millionor+3.88%,from2022-23).The$15increaseislargelyattributedtoCity-negotiated salaryincreases,employeehealthbenefits,and one-time payouts. $10OPERATING COSTS$5Operatingcostscomprised24.31%ofthetotal AdministrativeExpensein2023-24,withatotal of$6.51millionexpended(anincreaseof$0.45$0million or +7.35%, from 2022-23). The increase in2019-20 2020-21 2021-22 2022-23 2023-24operating costs is a result of growing contractualBudgetedexpenses, Board election expenses, and medical services. These were offset with minor decreasesActualto travel and office and administrative expenses.94 LAFPP ANNUAL REPORT 2024'