Every year, Alaska provides a stimulus check to its residents through the Permanent Fund Dividend (PFD). This program is designed to share some of the revenue generated from the state’s resources, such as oil and minerals. However, the exact amount of the stimulus check can vary, and for 2024, two potential figures have been announced: $3,200 and $1,702.
Initially, it was announced that each eligible resident would receive $3,200, an amount that was approved in May. But when people recently checked the official PFD website, many found that the amount had been adjusted to $1,702. This sudden change has left many Alaskans with questions and concerns.
Why did the check amount change?
It’s not uncommon for the amount of the stimulus check in Alaska to fluctuate. The state’s budget heavily relies on income from the oil sector, meaning that any shifts in oil prices can directly impact the Permanent Fund. While a higher payment was initially projected, adjustments in state revenue likely forced a reduction in the final amount to be distributed to residents.
Additionally, factors like public spending and government budget priorities can influence how much is allocated to the PFD. Although $3,200 appeared to be the final amount, the state’s financial needs ultimately led to a reduction to $1,702.
Who qualifies for the stimulus check
To be eligible for the PFD check, residents must meet specific criteria. One of the key requirements is that applicants must have lived in Alaska for the entire year before applying. Another important rule is that prolonged absences without a valid reason may disqualify someone from receiving the payment.
Applications for the 2024 dividend closed in March, so only those who submitted their applications on time will be considered for this year’s payment. If you missed the deadline, you’ll need to wait until next year for another opportunity to participate in the program.
How to check the status of your application
If you’ve already applied for the 2024 stimulus check, it’s a good idea to check the status of your application to ensure everything is in order. The easiest way to do this is through the “myPFD” portal on the Permanent Fund’s official website. From there, you can see if your application has been properly processed and whether your payment has been approved.
If you need to update your address or other personal information, you can also do this via the portal, as long as you signed your application electronically. However, if you submitted your application on paper, you’ll need to fill out a change of address form and mail it to a PFD office in Alaska.
Payment dates for the stimulus check
The state has announced that the 2024 stimulus check payments will be made in two phases. The first round of payments will be issued on October 3, 2024, for those who submitted their application online and opted for direct deposit.
For applicants who chose to receive a paper check or submitted their application by mail, the second wave of payments will be sent out on October 24, 2024. After that, payments will continue on a monthly basis as pending applications are reviewed and approved.
What to do if you don’t receive your payment on time
If the expected date passes and you haven’t received your check or direct deposit, your first step should be to check for any issues with your application in the “myPFD” portal. Sometimes, small errors, like an incorrect address or a mistyped bank account number, can cause delays in payment. If everything appears correct but you still haven’t received your money, it’s best to contact the PFD offices directly to resolve the issue as quickly as possible.