b'MESSAGE FR OM THEGeneral Manager INSIDESeasons Greetings from LAFPP!As 2025 comes to an end and we prepare for01 2026 Health and2026, the Los Angeles Fire and Police PensionsDental Subsidy Updates(LAFPP) team and I would like to wish you and your family a prosperous and healthy New Year.02 General ManagersThis year, our City experienced one of the mostMessage devastating wildfires in Los Angeles history. I want to take a moment to recognize and thank04 Medicare Part Bthe courageous first responders who workedPremium Reimbursementaround the clock to protect lives and property. Your service and dedication inspire us all. 06 Tax SeasonForm1099-R InformationIn this edition of our newsletter, youll find important updates to help you planfor2026.IncludedaredetailsaboutthenewmaximumMedicare health subsidy increase effective January 2026, the updated Medicare Part08Tax Exclusion Benefit B monthly premium reimbursement amount, and information about yourfor Retired Membersyear-end 1099-R tax form. We encourage you to read through the newslet-ter to ensure you dont miss any important updates or reminders. 09 2026 Pension Payment ScheduleI am pleased to report that we experienced another increase in the Plans funding status (i.e., the ratio of the Plans assets to its expected liabilities)10Other News & Informationfor pension benefits this year.For the fiscal year ending June 30, 2025, the combined funded ratio for LAFPPs pension and health benefits is 97.6%, up from 97.0% the previous year.Separately, the pension benefit funded ratio11LAFPP Quarterlyis now 100.5%, up from 99.8%, and the retiree health benefits funded ratioMembership Reviewdecreased slightly from 78.2% to 78.1%. The overall increase in the Plans funding status is remarkable and is indicative of the continued strength and12 Board News & Information stability of your retirement plan. 14 Contact InformationThank you for your service to the City of Los Angeles and its residents. We& Moreremain dedicated to supporting you and your pension needs in the coming year. Should you have any questions or comments, please contact us at (213) 279-3000 or via email at [email protected],Joe Salazar, CEBSGeneral Manager2 PENSION PERSPECTIVES'