Thousands of people living in Alaska will receive a payment that is part of the Permanent Fund Dividend Program (PFD). This program sends payments every year to residents of the state, using part of the Alaska earnings obtained from its natural resources, especially from oil and gas.
This payment is not a temporary financial aid check, like the ones sent during the pandemic. This is a dividend that has been sent for many years and it’s part of a tradition and policy in the state of Alaska. So, let’s see how this Permanent Fund Dividend Program works.
How is the PFD funded?
The PFD is funded with money the state gets from selling and developing its natural resources, mainly from oil and minerals. Alaska created a special fund to keep and manage those earnings, which is invested and grows over time. Every year,part of those earnings is divided among people living in the state and who meet certain requirements.
This is why you may have heard that residents ‘’share the natural resource’’ of Alaska. It’s a unique program in the U.S., since no other state sends money every year for this reason.
Why $1,000?
This year, the payment was lower than last year ($1,702) because the earnings obtained from the energy industry were lower. However, the goal of the program is still the same: to make sure every eligible person receives their dividend in a fair and transparent way. The director of the PFD Division, Genevieve Wojtusik, explained that the mission is to make sure that everyone who is eligible receives their payment on time, that any fraud is punished, and that everyone involved in the process is treated with respect.
When the payments will be sent
According to the PFD schedule, the payments will be divided into 3 rounds of payment:
- The first round was sent on October 2 to those who were ‘’Eligible-Not-Paid’’ on September 18.
- The second round was sent on October 23 to those who had the same status on October 13.
- The third and last round will be sent on November 20.
Those who could receive this payment could verify their eligibility on November 12. To do this, they must log in to the official PFD portal. If the account status shows “Eligible-Not Paid,” then the $1,000 payment will be automatically sent on November 20.
Who can receive this payment?
The requirements to receive the dividend are the same as the previous years. So, to be eligible you must meet the following:
- Be a legal resident of Alaska and intend to live in the state permanently.
- Have physically lived in Alaska for at least 72 consecutive hours in 2023 and again in 2024.
- Not have claimed residency in any other state during the past two years.
- Not have serious criminal convictions or major felony records.
It’s important to know that the period to apply for the 2025 payment ended on March 31. This means that those who didn’t send their application on time must wait for the next period of applications.
A program with history and meaning for Alaska
The Alaska Permanent Fund was created in 1976 so that the state’s citizens receive part of the benefits coming from its natural resources. With the passage of time, the fund has grown until it has become one of the largest in the world, with a value of more than $80 billion.
Unlike temporary government assistance or special economic stimulus checks, the Permanent Fund Dividend is an annual tradition. It represents the connection between the people of Alaska and the natural resources that support the state’s economy.