b'LOS ANGELES FIRE AND POLICE PENSION SYSTEM NOTES TO FINANCIAL STATEMENTS JUNE 30, 2025 AND 2024NOTE 4FUNDING POLICY AND CONTRIBUTION INFORMATION (Continued)During fiscal year 2024, total contributions of $645.37 million from the employer and $157.19 million from the members were made, with respect to the Pension Plan and Health Subsidy Plan, in accordance with actuarially determined contribution requirements determined through an actuarial valuation performed at June 30, 2022.For the Pension Plan, fiscal year 2024 employer contributions included $322.99 million for entry age normal cost, $137.82 million for the unfunded actuarial accrued liability annual amount, and $20.00 million for pension administrative expense. For the Health Subsidy Plan, fiscal year 2024 employer contributions consisted of $74.85 million for entry age normal cost, $87.95 million for the unfunded actuarial accrued liability annual amount, and $1.76 million for health administrative expense. Surplus Management PolicyOn August 1, 2024, the Board approved a surplus management policy that takes effect upon the Retirement orOPEBPlanbecoming fullyfunded.Oncefully funded,the UnfundedActuarialAccruedLiability (UAAL) contribution rate that was determined in the previous valuation may be phased out linearly to 0.00% over a glide path of a certain number of years, as recommended by the actuary and adopted by the Board. The glide path is designed to maintain stable contribution rates unless the Plans funded status falls below 100%. In such cases, adjustments would be made to ensure adequate funding. The policy also details specific criteria for contribution adjustments and credits based on actuarial projections, including provisions for maintaining smooth contribution levels during the glide path phase-out period.NOTE 5NET PENSION LIABILITYThe components of the Systems net pension liability (NPL) at June 30, 2025 and 2024, were as follows: 2025 2024Total Pension Liability $29,116,456,371 $27,892,689,724Less: Fiduciary Net Position30,495,210,72728,148,045,890Net Pension Liability (Surplus) $( 1,378,754,356) $ (255,356,166)Fiduciary Net Position as a Percentage of the Total Pension Liability 104.74% 100.92% The NPL was measured as of June 30, 2025 and June 30, 2024 and determined based upon plan assets as of each measurement date and upon rolling forward to each measurement date the total pension liability (TPL) from the actuarial valuation as of June 30, 2024 and 2023, respectively.2843SECTION 2FINANCIALS'