As the year winds down and holiday preparations reach their peak, some Alaska residents are set to receive a welcome financial boost. The Alaska Permanent Fund Dividend (PFD) has one final payment scheduled for 2024, ensuring eligible recipients receive their share of the state’s oil and natural resource revenues. Let’s look into the details of this last payment, who qualifies, and how to apply for future benefits.
Alaska PFD
The Alaska Permanent Fund Dividend was established in 1976 to share the state’s resource wealth with its residents. Funded by revenue generated from oil and natural gas, the PFD provides an annual payment to Alaskans who meet specific eligibility criteria.
In 2024, the payout stands at $1,312 for eligible recipients, benefiting approximately 600,000 residents. For 2025, the payout will increase to $1,702, offering significant financial relief amid rising living costs and inflation.
Dates
The PFD program has outlined two remaining payment dates for eligible recipients with “Eligible-Unpaid” status:
- December 19, 2024: Payments for 2024 (and prior years) will be distributed to those in “Eligible-Unpaid” status as of December 11, 2024.
- January 16, 2025: For 2025 payouts, applications with “Eligible-Unpaid” status as of January 8, 2025, will receive their funds.
If you’re unsure about your status, the PFD website provides tools to check your application details.
Who Is Eligible
Eligibility for the PFD requires meeting several residency and behavioral conditions. Here’s a breakdown of the requirements:
- Residency:
- Must have been a registered Alaska resident for at least 12 months.
- Cannot have applied for residency in another state or country during that time.
- Presence in Alaska:
- Must have spent at least 72 continuous hours in Alaska within the past 24 months.
- Criminal Record:
- Cannot have been jailed for a serious crime in the last year.
- Cannot have served jail time for a misdemeanor if previously convicted of a serious crime or two misdemeanors since January 1, 1997.
How to Apply
The application window for the PFD runs annually from January 1 to March 31. Residents can apply by mail or online through the PFD portal. Applications must be submitted separately for each family member, including children.
Matters
Beyond being a source of financial support, the PFD encourages spending and investment within the state. For many families, it serves as a vital tool to offset Alaska’s high cost of living and invest in necessities like housing, education, or small business ventures.
If you’re eligible, don’t miss out on this opportunity. Stay informed about application deadlines and requirements to ensure you receive your share of Alaska’s resource wealth.
FAQs
What is the Alaska PFD?
The Alaska PFD shares oil and resource revenues with residents annually.
How much is the 2024 PFD payment?
The 2024 PFD payment is $1,312, increasing to $1,702 in 2025.
Who is eligible for the Alaska PFD?
Residents with 12 months of residency and no disqualifying factors qualify.
When is the final 2024 payment?
December 19, 2024, for ‘Eligible-Unpaid’ applicants as of December 11.
When can I apply for the PFD?
Applications are accepted yearly from January 1 to March 31.