Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 667

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 2
Chunk 667
---
 pension
benefits at December 31, 2024 and 2023 were as follows:

    Schedule of weighted average asset allocation of our pension
benefits 

    December 31, 

    2024  
    2023 
  
    Weighted Average Asset Allocation at Year-End 

    Asset Category 

    Equity securities 
     87%  
     87% 
  
    Debt securities 
     13%  
     13% 
  
    Cash and cash equivalents 
     0%  
     0% 
  
    Total 
     100%  
     100% 

Our investment policies and
strategies for the pension benefits plan utilize a target allocation of 75% equity securities and 25% fixed income securities (excluding
Company stock). Our investment goals are to maximize returns subject to specific risk management policies. We address risk management
and diversification by the use of a professional investment advisor and several sub-advisors which invest in domestic and international
equity securities and domestic fixed income securities. Each sub-advisor focuses its investments within a specific sector of the equity
or fixed income market. For the sub-advisors focused on the equity markets, the sectors are differentiated by the market capitalization,
the relative valuation and the location of the underlying issuer. For the sub-advisors focused on the fixed income markets, the sectors
are differentiated by the credit quality and the maturity of the underlying fixed income investment. The investments made by the sub-advisors
are readily marketable and can be sold to fund benefit payment obligations as they become payable.

    Schedule of estimated future benefit payments 

    Cash Flows 

    Estimated Future Benefit Payments (In thousands) 

    2025 
    $1,206 
  
    2026 
     1,324 
  
    2027 
     1,240 
  
    2028 
     1,129 
  
    2029 
     942 
  
    Years 2030 - 2034 
    5,954 

    Anticipated Contributions in 2025 
    $– 

     F-34 

CONSUMER PORTFOLIO SERVICES, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The fair value
of plan assets at December 31, 2024 and 2023, by asset category,