Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 1679

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 9B
Chunk 1679
---
(1,113) 
     (954)
  
    Projected benefit obligation, end of year 
    $14,272  
    $15,477 

    Change in Plan Assets 

    Fair value of plan assets, beginning of year 
    $20,048  
    $18,768 
  
    Return on assets 
     2,967  
     2,347 
  
    Employer contribution 
     –  
     – 
  
    Expenses 
     (122) 
     (113)
  
    Settlements 
     –  
     – 
  
    Benefits paid 
     (1,113) 
     (954)
  
    Fair value of plan assets, end of year 
    $21,780  
    $20,048 

    Funded Status at end of year 
    $7,508  
    $4,571 

     F-32 

CONSUMER PORTFOLIO SERVICES, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Additional Information

Weighted average assumptions used to determine
benefit obligations and cost at December 31, 2024 and 2023 were as follows:

    Schedule of weighted average assumptions used to determine
benefit obligations 

    December, 31 

    2024  
    2023 
  
    Weighted average assumptions used to determine benefit obligations 

    Discount rate 
     5.32%  
     4.68% 

    Weighted average assumptions used to determine net periodic benefit cost 

    Discount rate 
     4.68%  
     4.87% 
  
    Expected return on plan assets 
     6.75%  
     7.00% 

Our overall expected long-term
rate of return on assets is 6.75%
per annum as of December 31, 2024. The expected long-term rate of return is based on the weighted average of historical returns on individual
asset categories, which are described in more detail below.

    Schedule of components of net periodic benefit cost 

    December 31, 

    2024  
    2023  
    2022 

    (In thousands) 
  
    Amounts recognized on Consolidated Balance Sheet 

    Other assets 
    $7,508