b'LOS ANGELES FIRE AND POLICE PENSION SYSTEM MANAGEMENTS DISCUSSION AND ANALYSIS (Unaudited)Health Subsidy Plan (Continued)Changes in Fiduciary Net Position (Continued)Condensed Statement of Changes in Fiduciary Net Position($ in Thousands)2025 2024 Change % ChangeAs restatedAdditionsContributions $ 181,650 $ 164,560 $ 17,090 10.4%Net Investment Income360,949287,43873,511 25.6%Other 38 70(32) -45.7%Total Additions542,637452,06890,569 20.0%DeductionsBenefits Payment175,659164,34111,318 6.9%Administrative Expenses2,9662,701 265 9.8%Total Deductions178,625167,04211,583 6.9%Net Increase 364,012285,02678,986 27.7%Net Position, Beginning of Year,As Restated 3,251,378 2,966,352285,026 9.6%Net Position, End of Year $3,615,390 $3,251,378 $ 364,012 11.2%Additions to Fiduciary Net PositionTotal additions to net position increased by $90.57 million compared to fiscal year 2024. This is due primarily to the net appreciation in the fair value of investments which increased by $73.51 million or 25.6% over fiscal year 2024. For fiscal year 2025, net investment income was $360.95 million compared to $287.44 million in fiscal year 2024. Deductions from Fiduciary Net PositionDeductions represent medical and dental insurance subsidies paid for pensioners and their beneficiaries and administrative expenses. Current year deductions were $178.63 million, $11.58 million or 6.9% more than the total deductions of fiscal year 2024. This is due primarily tothe increase in the maximum retiree health subsidy and Medicare reimbursements in fiscal year 2025. 12SECTION 2FINANCIALS 27'