b'LOS ANGELES FIRE AND POLICE PENSION SYSTEM REQUIRED SUPPLEMENTARY INFORMATION PENSION PLAN SCHEDULE OF CHANGES IN NET PENSION LIABILITY AND RELATED RATIO ($ in Thousands)(Unaudited)06/30/25 06/30/24 06/30/23 06/30/22 06/30/21Total Pension Liability: Service Cost $ 469,190 $442,649 $ 452,190 $ 456,446 $ 455,362Interest 1,936,3671,855,769 1,797,828 1,749,640 1,668,212Benefit Payments (1,398,990) (1,465,169) (1,352,465)(1,244,736) (1,186,963)Experience Losses (Gains)217,199 258,521258,373 (214,833)254,452Assumption Changes- -(262,300) Other(1)- Net Change 1,223,7661,091,770893,626746,517 1,191,063Total Pension Liability at Beginning of Year27,892,69026,800,92025,907,294 25,160,77723,969,714Total Pension Liability atEnd of Year (a) $ 29,116,456 $ 27,892,690 $ 26,800,920 $25,907,294 $ 25,160,777Fiduciary Net Position: Employer Contributions $ 486,958 $480,810 $ 481,824 $ 535,450 $ 543,819Member Contributions164,291 157,191151,935149,243157,786Net Investment Income 3,124,7072,561,982 1,920,464(2,021,582) 6,972,104Benefit Payments (1,398,990) (1,465,169) (1,352,465)(1,244,736) (1,186,963)Administrative Expenses (25,671)(24,068) (22,994) (22,146) (21,372)Other(1)- - -Net Change (Gain) 2,351,2951,710,746 1,178,764(2,603,771) 6,465,374Fiduciary Net Position atBeginning of Year 28,143,916 (3)26,437,30025,258,536 27,862,307 21,396,933Fiduciary Net Position atEnd of Year (b) (2) $ 30,495,211 $ 28,148,046 $ 26,437,300 $25,258,536 $ 27,862,307Net Pension Liability/(Asset) (a)-(b) $(1,378,755) $( 255,356) $ 363,620 $ 648,758 $(2,701,530)Plan fiduciary net position104.74% 100.92% 98.64% 97.50% 110.74%as a percentage of the total pension liability Covered employee payroll $1,745,822 $ 1,600,181 $1,608,133 $1,598,685 $1,603,349Plan net position liability as a percentage of covered employee payroll -78.97% -15.96% 22.61% 40.58% -168.49% Notes to Schedule: Fiduciary Net PositionThe fiduciary net position is calculated based on financial information available to the actuary for the presentation of the actuarial valuation and does not include subsequent adjustments.(1)Includes employer and employee contributions transferred from the Los Angeles City Employees Retirement System (LACERS) for the Airport Police Officers who elected to join the System in Tier 6.(2) Excludes the transfer of employer and employee contributions referenced in footnote(1) . (3) FY2025BeginningFiduciaryNetPositionincludesarestatementof$4.13millionrelatedtothe implementation of GASB Statement No. 101, Compensated Absences, adopted prospectively effective July 1, 2024. See Note 14 for further details.See accompanying notes to required schedule and accompanying independent auditors report. 59 74 LAFPP ANNUAL REPORT 2025'