Alaskans are ready to take advantage of the Permanent Fund Dividend (PFD). This is a benefit that, for now, is only available to those who are eligible to receive a boost at the end of 2024. They are those who are still classified as “Eligible-Unpaid.”
The Alaska Permanent Fund was established in 1976 for the purpose of administering the State’s oil revenues. This management is done through the Alaska Permanent Fund Corporation, which then allows the money to be distributed to its residents.
The PFD channels a large part of the profits from natural resources. Recall that it was designed to secure the financial benefits of the state’s oil and gas revenues, which is shared directly with its citizens. However, in order to access the money, residents must meet certain requirements.
All those who meet the requirements will receive a payment of $1,312 through the stimulus program. This series of benefits is intended to encourage spending and investment, and this year, the assistance will increase to $1,702, which will be distributed among some 600,000 residents.
The Alaska Permanent Fund Dividend website states that “2024 (and prior years) dividend applications that are in ‘Eligible-Not Paid’ status on December 11, 2024 will be distributed on December 19, 2024.” Meanwhile, those in “Eligible-Unpaid” status on January 8, 2025, will be distributed on January 16, 2025.
Who is eligible for the Alaska Permanent Fund Dividend stimulus payment?
Anyone who meets certain requirements is considered eligible for the Alaska Permanent Fund Dividend payment. First, individuals must be registered residents of Alaska. In addition, they must have had their home in the state for a minimum of 12 months and have no plans to leave in the near future. The beneficiary also does not have to have applied for residency in another state or nation; and must not have received any benefits as a result of such a proceeding.
Another requirement to collect the $1,312 stimulus is to have a minimum of 72 continuous hours within Alaska in the previous 24 months. In addition, they must not have been incarcerated for a felony within the last year, or for a misdemeanor if they were previously convicted of a felony or two misdemeanors on January 1, 1997.
When do I apply for this benefit?
Applications for the Alaska Permanent Fund Dividend are made each year from January 1 through March 31. This process is carried out through the mail or through its official web page. It is important to remember that it is extremely necessary to submit the application for each member of the family, including children.
And for all those who have not received a PFD payment, the state offers the option to have applications processed according to their “Eligible-Unpaid” status. What does this mean? That if someone meets the requirements, but has not received their payment yet, their status will be updated and the money will be released on one of the two dates mentioned above.
The Permanent Fund Dividend payment is made on an annual basis and is an important source of financial support for many families in Alaska. It also has a strong impact on the economy here, as most residents use this money for their daily living expenses, mostly for basic necessities such as housing, food and transportation.