Residents of Alaska can receive up to $1312 from the Permanent Fund Dividend (PFD) for eligible participants. Those who still hold an “Eligible-Not Paid” status will also receive their boost in 2024.
The PFD program began disbursing payments in October 2023, following the conclusion of electronic applications. These payments have continued to roll out as the Department of Revenue aims to stimulate economic activity in the largest state in the U.S. Recipients can expect to receive their dividends via mail or direct deposit.
If your 2023 PFD application holds an “Eligible-Not Paid” status by Wednesday, July 10, 2024, you will receive your payment by Thursday, July 18. Here is a breakdown of the payment schedule:
- For “Eligible-Not Paid” status by July 10, payments will be made on July 18.
- For “Eligible-Not Paid” status by June 20, payments will be distributed on June 20.
- The final category of “Eligible-Not Paid” status by August 7 will receive payments by August 15.
Make sure to check your status and keep track of these important dates to ensure you receive your PFD payment on time.
Staying informed about your application status is crucial, and you can easily check it online by visiting PFD Alaska through the myPFD portal. Make sure to verify that your address is correctly listed on your application. If it isn’t, you can update it digitally or print out a form and submit it to one of Alaska’s government offices.
What is the Permanent Fund Dividend Program?
The Permanent Fund Dividend (PFD) Program is designed to distribute a portion of Alaska’s oil revenues to its residents. According to Genevieve Wojtusik, the director of the Division of Permanent Fund Dividends, the division is committed to “administering the Permanent Fund Dividend program by ensuring that all eligible Alaska residents receive their dividends on time, processing fraud efficiently, and treating all internal and external stakeholders with respect.”
Why is This Stimulus Provided?
In the realm of economics, a stimulus refers to actions taken by governments or central banks to boost economic activity, especially during periods of economic slowdown or recession. The primary goal of these measures is to increase aggregate demand, which is the total demand for goods and services within an economy. By stimulating aggregate demand, these actions aim to:
- Boost production
- Create jobs
- Encourage economic growth
Understanding the importance and mechanisms of these economic stimuli can help residents appreciate the broader impact of programs like the PFD on the state’s economy and their personal finances.
What are the eligibility criteria to receive the Permanent Fund Dividend (PFD) in Alaska?
To get the Permanent Fund Dividend (PFD) in Alaska, you must meet these criteria for receiving payment:
- You must have been an Alaska resident for the whole prior calendar year. You must also intend to remain an Alaska resident indefinitely at the time you apply.
- You must have been in Alaska for at least 72 hours in a row. This must have been at some point in the prior two years.
- You must not have been:
- Sentenced as a result of a felony conviction during the prior year
- Incarcerated at any time during the prior year as the result of a felony conviction
- You were in jail at any time last year for a misdemeanor in Alaska. This is only if you had a prior felony or two or more prior misdemeanors since January 1, 1997.
- If absent from Alaska for more than 180 days in the prior year, the absence must be allowable under the law. Allowable absences include military service and education.
- You must not have claimed residency in any other state or country. Or, you obtained a benefit from claiming residency in another state or country. This must not have happened since December 31 of the year before the dividend year.