b'LOS ANGELES FIRE AND POLICE PENSION SYSTEM MANAGEMENTS DISCUSSION AND ANALYSIS (Unaudited)Pension Plan (Continued)Changes in Fiduciary Net Position (Continued)Deductions from Fiduciary Net PositionCosts associated with the Pension Plan include benefit payments to members, refunds of contributions due to termination and member death, and administrative expenses.Deductions for the fiscal year ended June 30, 2024, totaled $1.49 billion, an increase of $113.78 million, or 8.3%, over fiscal year 2023. The increase was due primarily to the up to 5.1% cost of living adjustments made to eligible pensions and an increase in the total number of retirees compared to fiscal year 2023. Health Subsidy PlanA summary of the Health Subsidy Plans net position and changes in net position is presented below:Fiduciary Net PositionCondensed Statement of Fiduciary Net Position($ in Thousands)2025 2024 (1) Change % ChangeAs restatedCash $85 $715 $ (630) -88.1%Receivables/Prepayments94,44398,852 (4,409) -4.5%Investments3,769,4763,382,072 387,404 11.5%Capital Assets2,0022,118 ( 116) -5.5%Total Assets3,866,0063,483,757 382,249 11.0%Liabilities 250,616 232,353 18,263 7.9%Deferred Inflows of Resources-26 (26) N/ANet Position $3,615,390 $3,251,378 $364,012 11.2%(1)Liabilities were restated in the fiscal year 2024 as a result of implementation of GASB Statement No.101-Compensated Absences. Net position increased by $364.01 million, or 11.2%, to $ 3.62 billion from fiscal year 2024.Total assets increased in value by $ 382.25 million, or 11.0%, when compared with the prior fiscal year 2024, primarily attributable to appreciation of investments due to favorable market conditions. 10SECTION 2FINANCIALS 25'