b'LOS ANGELES FIRE AND POLICE PENSION SYSTEM REQUIRED SUPPLEMENTARY INFORMATION HEALTH SUBSIDY PLAN SCHEDULEOF CHANGES IN NET OTHER POSTEMPLOYMENT BENEFITS LIABILITY AND RELATED RATIO ($ in Thousands)(Unaudited)June 30, 2025 June 30, 2024 June 30, 2023 June 30, 2022 June 30, 2021Total OPEB Liability: Service Cost $ 86,954 $ 83,191 $ 77,653 $ 79,825 $ 80,618Interest284,713267,221255,593266,036260,018Benefit Payments (175,659) (164,341) (153,918) (147,467) (151,855)Experience Losses (Gains) (1,405)61918,082 (8,923)8,191Assumption Changes137,04964,999 (31,715) (333,313) (113,656)Other(1) - - - - -Net Change331,652251,689165,695 (143,842)83,316Total OPEB Liability at Beginning of Year 4,066,716 3,815,027 3,649,332 3,793,174 3,709,858Total OPEB Liability at End of Year (a) $4,398,368 $4,066,716 $3,815,027 $3,649,332 $3,793,174Fiduciary Net Position: Employer Contributions $ 181,650 $ 164,560 $ 186,418 $ 193,140 $ 200,425Net Investment Income360,987287,508214,764 (209,565)698,434Benefit Payments (175,659) (164,341) (153,918) (147,467) (151,856)Administrative Expenses (2,966) (2,701) (2,571) (2,296) (2,141)Other(1) - - - - -Net Change (Gain)364,012285,026244,693 (166,188)744,862Fiduciary Net Position at Beginning of Year 3,251,378 (3) 2,966,815 2,722,122 2,888,310 2,143,448Fiduciary Net Position at End of Year (b)(2) $3,615,390 $3,251,841 $2,966,815 $2,722,122 $2,888,310Net OPEB Liability/(Asset) (a)-(b) $ 782,978 $ 814,875 $ 848,212 $ 927,210 $ 904,864Plan fiduciary net position as a percentage of the total OPEB liability82.20% 79.96% 77.77% 74.59% 76.14%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 44.85% 50.92% 52.75% 58.00% 56.44% 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 contributions transferred from the Los Angeles City Employees Retirement System (LACERS) for the Airport Police members who elected to join the System in Tier 6. (2)Excludes the transfer of employer and employee contributions referenced in footnote(1)(3) FY2025 Beginning Fiduciary Net Position includes a restatement of $0.46 million related to the 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.65 80 LAFPP ANNUAL REPORT 2025'