b'Five-Year Expenditures HistoryExpendituresIn Millions$2,000 Service Pensions$1,800 Service Pensions-DROP DistributionsDisability Pensions$1,600Surviving Spouse/Domestic Partner$1,400 & Minor/Dependent Child Pensions$1,200 Refund of Member ContributionsHealth Insurance Premium Subsidy, Dental $1,000 Insurance Premium Subsidy, Medicare & Health Insurance Premium Reimbursement$800Investment Management Expense$600 Administrative Expense$400$200$02020-21 2021-22 2022-23 2023-24 2024-25DETAIL OFADMINISTRATIVEFive-Year AdministrativeExpense HistoryEXPENSEAdministrative ExpenseIn MillionsAdministrativeExpenseincludesstaffsalariesand$35benefits,andoperatingcosts(includingofficeand technical equipment). $30SALARIES AND RELATED COSTSSalaries and related costs comprised 79.45% of the$25total Administrative Expense in 2024-25, with a total of$22.75millionexpended(anincreaseof$2.49$20millionor+12.30%,from2023-24).Theincreaseis largely attributed to City-negotiated salary increases,$15employee health benefits, and one-time payouts.$10OPERATING COSTSOperating costs comprised 20.55% of the total Admin- $5istrative Expense in 2024-25, with a total of $5.88 million expended (a decrease of $0.62 million or -9.57%, from$02023-24). The decrease in operating costs is a result2020-21 2021-22 2022-23 2023-24 2024-25of reductions in contractual expenses and office and administrative expenses. These were offset by minorBudgetedincreases to medical and election expenses. Actual94 LAFPP ANNUAL REPORT 2025'