b'LOS ANGELES FIRE AND POLICE PENSION SYSTEM NOTES TO FINANCIAL STATEMENTS JUNE 30, 2025 AND 2024NOTE 5NET PENSION LIABILITY (Continued)Sensitivity AnalysisThe following presents the NPL of the System as of June 30, 2025 and 2024, calculated using the discount rate of 7.00% for 2025 and 2024, as well as what the Systems NPL would be if it were calculated using a discount rate that is 1-percentage-point lower or 1-percentage-point higher than the current rate:1% Decrease Current Discount 1% Increase(6.00%) Rate (7.00%) (8.00%)NPL as of June 30, 2025 $2,581,779,662 $ (1,378,754,356) $ (4,605,238,369)NPL as of June 30, 2024 $ 3,546,617,592 $ (255,356,166) $ (3,352,623,297)NOTE 6NET OTHER POST-EMPLOYMENT BENEFITS LIABILITY The components of the Systems net Other Post-Employment Benefits (OPEB) liability at June 30, 2025 and 2024, were as follows: 2025 2024Total OPEB Liability $4,398,368,516 $ 4,066,715,913Less: Fiduciary Net Position 3,615,390,5493,251,841,341Net OPEB Liability $782,977,967 $ 814,874,572Fiduciary Net Position as a Percentage of the Total OPEB Liability 82.20% 79.96% The Net OPEB Liability (NOL) was measured as of June 30, 2025and June 30, 2024. The Health Subsidys Net Position was valued as of the measurement date, while the Total OPEB Liability (TOL) was determined based upon the results of the funding actuarial valuations as of June 30, 2025 and 2024.Actuarial Assumptions The TOL as of June 30, 2025 and 2024 were determined by the actuarial valuations as of June 30, 2025 and 2024, respectively. The actuarial assumptions used for these valuations were basedon the results of an experience study for the period from July 1, 2019 through June 30, 2022 and the health assumptions letters dated August 27, 2025 and August 28, 2024. 46 LAFPP ANNUAL REPORT 2025 31'