Alaska’s Permanent Fund Dividend (PFD) Program will be rolling out $1,702 stimulus payments to beneficiaries whose payment status reflects “Eligible-Not Paid” as of July 9, as per the fund’s official website. The fund is meant to help distribute the state’s earnings from oil reserves and is calculated based on factors such as oil prices and investment performance.
Eligibility criteria
As per PFD’s official website, a user must have the following to be considered eligible to receive the payment:
· Resident of Alaska through all of calendar year 2024
· Intent to remain an Alaska resident indefinitely when applied for the 2025 PFD
· Not claimed residency in any other state or received any benefit as result of making such a claim at any time since December 31, 2023
· Not sentenced as a result of a felony conviction during 2024, incarcerated at any time during 2024 as the result of a felony conviction or incarcerated at any time during 2024 as the result of a misdemeanor conviction in Alaska if convicted of a prior felony or two or more prior misdemeanors since January 1, 1997
· Not absent from Alaska for more than 180 days without an allowable absence
{{/usCountry}}· Not absent from Alaska for more than 180 days without an allowable absence
{{/usCountry}}· Physically present in Alaska for at least 72 consecutive hours at some time during 2023 or 2024
How much can I expect to receive?
“The 2024 Permanent Fund Dividend (PFD) amount is $1,702,” states the official PFD website. Out of this amount, the annual dividend is worth $1,440 while the rest is credited to an energy relief bonus due to elevated oil prices.
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Where do I need to apply to receive the payment?
Applications for the 2024 dividend closed on March 31 this year. Applications for next year will be open from January 1 to March 31, 2026.
When will I receive the payment?
Those whose payment status showed “Eligible- Not Paid” as of July 9 will be receiving their payments on July 17. Another round of payments will be distributed on August 21 for those whose status reflects the same on August 13.
Note: Depending on the method selected by the beneficiary, payments are rolled out either in the form of direct deposits or mailed paper checks.
By Stuti Gupta