As 2025 wears on, many are asking: where did the long-awaited $1,312 stimulus checks go? Well, it should be noted that these payments are not stimulus checks from the federal government but rather part of the PFD, which is an annual program in Alaska. This yearly initiative is designed to distribute a portion of the state’s oil revenues to its residents, thereby sharing the state’s bountiful natural wealth with its people and providing economic support.
What is the Permanent Fund Dividend (PFD)?
The Permanent Fund Dividend is a unique program specific to Alaska, established in 1976. Its primary goal is to manage and distribute oil profits directly among the state’s inhabitants. Alaska invests income from natural resources, such as oil and gas, in financial markets. The money generated each year is then divided among eligible residents. The PFD was first distributed in 1982 to share the fund’s earnings directly with Alaskans. This annual dividend encourages economic equality, supplements household incomes, and bonds residents with the state’s natural wealth.
How the PFD works
The state of Alaska invests the income obtained through the exploitation of natural resources, typically gas and oil, in financial markets. The dividends obtained on yearly basis are divided among the residents. This initiative makes sure that the financial benefits of the State’s oil and gas income is directly provided to the residents of Alaska. The fund is managed by Alaska Permanent Fund Corporation, which is a stable supply of annual revenue for the recipients.
Eligibility for the PFD
To be eligible for the PFD, applicants must satisfy certain requirements:
- Residency: Applicants must have been residents of Alaska for the entire calendar year before the application. Temporary absences for acceptable reasons (education, military service, medical care) are permitted, but applicants must not abandon their intention to return to Alaska.
- Intent to remain: Residents must have the intention to remain in Alaska indefinitely, as the PFD is for long-term Alaskans.
- Criminal record: Those convicted of certain felonies or imprisoned during the eligibility year may be disqualified.
- Application deadline: The application deadline is March 31 of the payout year. This means, for example, the deadline to apply for the 2025 PFD is March 31, 2025.
- Proof of presence: Individuals applying may also be required to prove that they were present physically in Alaska.
PFD amount and payment schedule
The amount paid in December 2024 was $1,312 to eligible Alaska residents1. On the horizon: roughly 600,000 residents will split an even bigger pie of $1,702. Applications for the 2025 PFD open January 1 to March 31. Payments are usually distributed beginning in October.
Those who apply online with a direct deposit payment method are typically set to receive the PFD in early October, while those who apply online with a check payment method or apply using a paper application may experience a short delay.
Proposed changes and potential amounts for 2025
The amount each Alaskan is eligible to receive from the state’s annual oil-wealth payout has not been fully articulated. The Legislature and Gov. Mike Dunleavy will set that amount during the upcoming legislative session. Dunleavy’s budget proposal calls for paying roughly $3,900 to each Alaskan. That plan likely won’t come to fruition because it would require pulling more than $1.5 billion from the state’s main non-Permanent Fund savings account.
If lawmakers use the informal formula they have used the past few years — 25% of the state’s yearly drawdown from the Alaska Permanent Fund — PFD checks would be more like approximately $1,400.
Economic impact of the PFD
The PFD is a crucial part of Alaska’s economy, both as financial sustenance and an economic stimulus. The annual payout of the funds greatly assists the state in its attempt to fight poverty. The additional spending by PFD recipients on consumption helps the local businesses and further boosts the economy. The PFD enhances economic stability in Alaska because the funds are directly injected into the local economy and benefit a large population.
Staying informed and applying for the PFD
For information on the PFD and its distribution, residents can access the official PFD website. The myPFD portal allows for easy tracking of application status and making necessary updates online. Applications may be submitted online through myAlaska or on paper applications at distribution centers throughout the state.
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