Alaska residents may soon receive a $1,702 payment from the state’s Permanent Fund Dividend (PFD) program, but how do you know if you qualify, and when will you receive it? This news comes at a critical time, as many families are looking for extra financial support ahead of the colder months and holiday season.
What Is the Permanent Fund Dividend (PFD)?
The PFD is a program that provides eligible Alaska residents with a share of the state’s natural resource earnings.
This year, the payment includes an energy relief bonus of $1,702 to help residents manage rising energy costs and inflation. About 82% of Alaskans are expected to receive this payment, according to the Department of Revenue.
Why Is This Payment Important?
The PFD payment is not just a financial boost for families—it’s also a way for Alaskans to benefit directly from the state’s natural resource investments. The payment comes just in time for the colder months, helping people manage energy bills and prepare for holidays like Thanksgiving and Christmas.
Department of Revenue Commissioner Adam Crum said, “This is the 43rd year Alaskans have received their share of the state’s natural resources and investment earnings. The 2024 PFD will create economic opportunities across all of our local communities.”
Who Is Eligible for the Payment?
To qualify for the PFD, you must be an Alaska resident and meet specific requirements:
- Permanent Residency: You must intend to remain in Alaska forever, as of the application date.
- 2023 Calendar Year: You must have lived in Alaska for the entire year (from January 1 to December 31).
- No Other State Residency: Since December 31, 2022, you cannot have claimed residency in any other state or country or received benefits from them.
- Criminal Record: You must not have been sentenced for a criminal offense in 2023 or imprisoned for a misdemeanor. If you have a felony or two misdemeanors since January 1, 1997, you are not eligible.
- Physical Presence: You must have spent at least 72 hours physically in Alaska in 2022 or 2023. If you were away for more than 180 days, you need to have been authorized to be absent.
Must Read: Missed Your Social Security Payment? Here’s How to Claim It Now?
When Will You Get Your Payment?
Alaskans who applied electronically and chose direct deposit should expect to see the money in their accounts by Thursday, October 3, 2024. If your status is listed as “eligible-not paid” by September 20, 2024, you should still receive your payment on time.
You can check your payment status by logging into the myPFD portal on the State of Alaska Department of Revenue website. Keep in mind that the Department of Revenue will never ask for password changes through emails or messages, so stay alert for scams.
Eliot Pierce is a dedicated writer for ChiefsFocus.com, covering local crime and finance news. With a keen eye for detail and a passion for storytelling, Eliot aims to provide his readers with clear and insightful analysis, helping them navigate the complexities of their financial lives while staying informed about important local events. His commitment to delivering accurate and engaging content makes him a valuable resource for the community.